Hyundai Commercial "Corporate clients can apply for loans remotely without submitting documents"

Implementation of 'Digital Financial Services' for Corporate Clients
Loans Executed Within 30 Minutes Without Paperwork for Corporations with Transactions

[Asia Economy Reporter Ki Ha-young] Hyundai Commercial announced on the 28th that it will launch a digital financial service that allows corporate customers purchasing commercial vehicles to execute loans non-face-to-face without submitting documents.

By expanding external data partnerships and utilizing internal databases, it provides a corporate customer loan service that does not require physical documents. Hyundai Commercial implemented a digital-based non-face-to-face financial service through the development of various services such as automation of corporate registration certificate and vehicle registration inquiry, electronic shareholder registry service, and financial statement data construction.

In addition, the loan limit evaluation method for corporate customers was revamped to shorten the time required for limit inquiries. Typically, the loan limit for corporations purchasing commercial vehicles is heavily influenced by the credit of the corporate representative. For corporate customers with frequent transactions, the corporate representative had to repeatedly consent to credit checks, causing inconvenience. Accordingly, Hyundai Commercial introduced a 'pre-limit evaluation system' for corporations with existing transaction history, developing a 'corporate customer limit calculation system' that allows immediate limit inquiries without the corporate representative's credit check consent or sales document verification.

The documents required for corporate loans were also simplified. Compared to personal loans, corporate loans require verification of many items such as financial status, sales, shareholder equity, and representative credit, typically needing more than six types of documents, causing loan execution to take more than a day. By using the newly introduced Hyundai Commercial digital financial service for corporate customers, loans for corporations with existing transactions can be executed within 30 minutes without any documents.

A Hyundai Commercial official said, "We have promoted digital innovation so that corporate customers, who are relatively in the blind spot of digital financial services compared to individual customers, can use financial services quickly and conveniently."

This content was produced with the assistance of AI translation services.