Recognized for high inclusivity towards mid-to-low credit and small business owners,
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, ‘[Edaily Jung Du-ri Reporter] Toss Bank announced on the 9th that it has obtained B Corp certification by B Lab, an international nonprofit organization. ‘,
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, ‘B Corp is a certification granted by B Lab, a U.S. nonprofit organization established in 2006, after undergoing strict verification procedures. It targets companies that balance financial and social values. It comprehensively verifies transparency, social accountability, social and environmental performance, and certifies them as B Corps. According to B Lab, every year, about 3,000 companies worldwide apply for certification, but only 40% actually become part of B Corp.’,
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, ‘As of April this year, 7,900 companies from 161 industries in 93 countries worldwide have obtained B Corp certification. Patagonia, a clothing company that famously promotes environmentalism with the slogan “Don’t buy this jacket,” is a representative B Corp company. Global companies such as Nespresso, Ben & Jerry’s, Aesop, and Aveda, known for their natural skincare products, are also prominent members of B Corp.’,
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, ‘Toss Bank obtained a high certification score of 95.6 points. To obtain certification, a score of 80 or higher is required. Considering that the average score of most certified companies is in the early 80s, Toss Bank received a high score in comparison to its growth scale.’,
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, ‘B Lab particularly viewed Toss Bank as a bank that creates change through products and services tailored to customers. It praised Toss Bank for reducing financial blind spots for mid-to-low credit users and small business owners, as well as increasing accessibility for people with disabilities and foreigners, thereby lowering the threshold for banking services. Toss Bank’s various welfare programs for employees and its governance structure based on a horizontal culture were also highly evaluated.’,
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, ‘As a result, Toss Bank became the first bank in South Korea and the second in Asia to receive B Corp certification. There are a total of 59 banks worldwide that are part of B Corp, located in countries such as the U.S., U.K., Australia, and Canada.’,
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, ‘A Toss Bank official stated, “Through rigorous verification procedures that took over a year, Toss Bank has proven its innovation and inclusivity, and been rightfully recognized.” They also mentioned that Toss Bank will continue to uphold these values and take the lead in creating an inclusive, fair, and sustainable economic system.’,
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