Shinhan Bank Signs Business Agreement with Abley for Win-Win Cooperation with Online Sellers

[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 6th that it has signed a business agreement with Abley, the largest style commerce platform in Korea, to promote mutual cooperation with online sellers.

Through this agreement, both parties will jointly pursue ▲supporting customized financial and non-financial solutions according to the business cycle of online sellers ▲creating mutual marketing opportunities by revitalizing online platforms ▲supporting non-face-to-face services through linkage of both platforms.

Shinhan Bank plans to provide liquidity funds through Shinhan Quick Settlement Loans by advancing online sales settlements for Abley’s registered sellers, and also offer customized non-financial solutions such as early-stage business consulting and educational support according to the business cycle of online sellers.

Shinhan Quick Settlement Loan is a product launched by Shinhan Bank to shorten the sales settlement period for platform-registered sellers such as online shopping malls. Since July, through joint cooperation with OnlyOne, which operates SellerBot Cash, an integrated sales settlement management service for online sellers, and Korea Credit Bureau (KCB), the target platforms have been expanded to 23 places including Abley, 11st, Gmarket, Auction, and Lotte Home Shopping, strengthening financial support for small business owners.

A Shinhan Bank official said, "This business agreement is significant in that it presents a virtuous cycle leading to mutual cooperation through the bank’s practice of social responsibility and revitalization of the online platform market." He added, "Shinhan Bank plans to expand ESG (Environmental, Social, and Governance) management practices and social value creation activities through mutual support for small business owners."

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