Woori Bank to participate in an Internet banking consortium led by Korea Credit Data.

[“\n[E Daily Kim Hyun-ah Reporter] Woori Bank has expressed its intention to participate in the Internet-specialized bank consortium being pursued by Korea Credit Data (KCD).”,
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, “Korea Credit Data announced on the 14th that Woori Bank has conveyed its intention to invest in the KCD consortium. It is the first time that a domestic commercial bank has officially conveyed its intention to invest in the fourth Internet-specialized bank consortium.”,
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, “Kim Dong-ho, CEO of KCD, said, ‘Korea Credit Data aims to create the first bank for small business owners through the Internet-specialized bank license with Woori Bank. The KCD consortium will create innovative financial services that allow small business owners and individual companies to receive fair evaluations based on three-dimensional data and obtain funds in a timely manner.'”,
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, “Long-standing Relationship with Woori Bank“,
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, “KCD was selected as a beneficiary of Woori Bank’s startup support program, Wee FinTech Lab (formerly Woori Financial Dino Lab), shortly after its founding in 2016 and received support from Woori Bank. “,
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, “In 2020, KCD signed a business agreement with Woori Bank to launch non-face-to-face financial services for small business owners. As Korea Credit Data, which received initial support from Woori Bank, grew into a unicorn company, it has now become a partner with Woori Bank to create the first bank for small business owners in Korea.”,
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, “Aiming for Specialized Financial Services for Small Business Owners“,
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, “Leading the consortium, KCD emphasizes its status as a business entity that provides stable financial services for small business owners. KCD has been providing specialized services for small business owners through its management service ‘Cash Note’ to 1.4 million small business owners nationwide.”,
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, “Starting as a ledger and sales management app, Cash Note has now grown into a super app that takes responsibility for all aspects of small business operations, including management, financial services, item purchase, and community interactions.”,
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, “KCD has provided customized financial and information services for small business owners, and received great responses through innovative financial services such as ‘Fast Settlement’ and ‘Non-face-to-face Credit Review’ provided in collaboration with the Small Business Market Development Agency and Seoul Credit Guarantee Foundation. In 2022, it established Korea Evaluation Information, the first full-time individual business credit evaluation agency in Korea, along with Kakao Bank, SGI Seoul Guarantee, and KB Kookmin Bank.”,
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, “According to the company, the biggest competitive advantage of the KCD consortium is its ability to independently provide credit evaluation services for individual business owners of small business owners. “,
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, “Until now, loans for small business owners have been processed as loans for high-credit individual business owners from the first financial sector, but Korea Evaluation Information, established by KCD, has already provided credit evaluation models to numerous financial institutions based on operating information of individual business owners.”,
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, “Korea Credit Data“,
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, “The company’s management service ‘Cash Note’ has been introduced to approximately 1.4 million businesses (as of May 2024) and has virtually become the standard for the digital data infrastructure of small business owners. Its subsidiaries include Korea Payment Networks (VAN/PG), Korea Evaluation Information (individual business owner credit evaluation), Korea Biz Connect (small business owner education), and I’m You (POS).”,
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]