Shinbo-Kyungin Bank Join Hands to Promote Non-Face-to-Face and Digital Finance

[Asia Economy Reporter Kwangho Lee] The Korea Credit Guarantee Fund (KODIT) announced on the 21st that it has signed a "Business Agreement for the Activation of Non-face-to-face and Digital Finance" with IBK Industrial Bank of Korea to prepare for the post-COVID-19 era and support the government's Digital New Deal policy.

According to the agreement, the two institutions plan to introduce a non-face-to-face system by the first half of next year that links KODIT's Easy-One guarantee system with IBK's non-face-to-face channels, allowing customers to apply for guarantees and loans simultaneously.

As a result, customers will be able to handle tasks such as guarantee and loan applications, document submissions, and electronic contracts through the IBK mobile app without visiting a branch.

Easy-One guarantee is an online-exclusive guarantee product launched by KODIT in May last year. It is an example of public service innovation utilizing digital new technologies and was selected as a key task in the government's "Korean New Deal."

Additionally, the two institutions plan to strengthen mutual cooperation to activate commercial credit indices and expand corporate data exchange.

KODIT will be the first financial institution to open commercial credit indices to IBK and cooperate in preparing preferential financial products. At the same time, it will promote the expansion of corporate data exchange so that companies can easily submit documents required for financial transactions online and share them between institutions.

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