Revitalizing Partnership Channels Through Strategic Collaboration
BNK Kyongnam Bank and Toss Bank have joined hands with the aim of fostering growth and development, as well as contributing to strengthening the competitiveness of the banking sector.
BNK Kyongnam Bank announced on June 11 that it had signed an "Agreement for joint product development and mutual innovation" with Toss Bank.
The signing ceremony, held at the Toss Bank headquarters in Yeoksam-dong, Gangnam-gu, Seoul, was attended by President Kim Taehan of BNK Kyongnam Bank, President Lee Eunmi of Toss Bank, and other officials.
Under the agreement, the two banks have agreed to cooperate in the joint development, launch, operation, and management of products, joint marketing of products and services, and partnerships related to services.
The jointly developed product to be launched in the future is a personal credit loan product. When a customer applies for a loan through the Toss Bank app, both banks will conduct their own reviews, after which the loan limit and interest rate will be jointly determined.
The loan can be executed in one step through the Toss Bank app, allowing customers to easily access a variety of loan-related services such as repayment of principal and interest, issuance of various certificates, and customer consultations.
Kim Taehan, President of BNK Kyongnam Bank, said, "It is very meaningful to be able to create a joint loan product as our first collaborative project with Toss Bank, which has been ranked No. 1 in the Korean banking sector by Forbes in the United States for three consecutive years. I expect that BNK Kyongnam Bank and Toss Bank working together will provide even more benefits to our customers."
He added, "As BNK Kyongnam Bank is also considering various directions for further growth, we will create more opportunities for cooperation not only in joint product development but also in diversifying our loan and deposit product portfolios. I hope today's agreement will be meaningful for both banks, and we will continue to work together under our shared vision of 'innovation and inclusion in finance.'"
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