Designated as an 'Innovative Financial Service' by the FSC
Personal credit loan to be launched in the second half of the year
The joint personal credit loan product introduced by BNK Busan Bank in partnership with K Bank has been designated as an 'Innovative Financial Service' by the financial authorities.
On July 10, Busan Bank (President Bang Seongbin) announced that the personal credit loan product it is jointly preparing with K Bank has been newly designated as an Innovative Financial Service by the Financial Services Commission. The two banks signed a strategic marketing partnership agreement in January, and this designation is considered a major achievement of that agreement.
The two banks plan to launch the personal credit loan product, with both sharing the loan funds, in the second half of this year. Applications for the loan can be made through the K Bank app, and once a customer request is received, both banks will conduct their own credit evaluations and reviews, after which they will jointly determine the loan limit and interest rate.
The loan amount disbursed will be shared equally between Busan Bank and K Bank at a 5:5 ratio, and the entire process?from application to disbursement to post-management?will be handled seamlessly through the K Bank app.
Busan Bank expects that by combining its accumulated credit scoring model (CSS) and financial management know-how with K Bank's digital platform technology, it will be able to offer a highly competitive product.
Shin Sik, Head of Busan Bank's Personal Customer Group, emphasized, "This joint credit loan marks the first step toward mutual growth between a regional financial institution and an internet-only bank," adding, "We will take the lead in revitalizing the regional economy and enhancing the convenience of financial consumers through various collaborations."
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