IBK and Shinbo Sign Business Agreement to Promote 'Non-face-to-face and Digital Finance'

[Asia Economy Reporter Jin-ho Kim] IBK Industrial Bank of Korea announced on the 21st that it has signed a comprehensive business agreement with the Korea Credit Guarantee Fund to promote non-face-to-face and digital finance.

Through the agreement, the two institutions plan to closely cooperate on ▲ joint development of non-face-to-face guarantee and loan financial products ▲ activation of commercial credit indices and expansion of exchanges ▲ exchange of corporate data and network establishment between the parties to the agreement.

In particular, the bank plans to introduce the 'non-face-to-face guaranteed loan' process, which allows the entire process from guarantee application to loan execution to be handled non-face-to-face without visiting a branch, for the first time in the banking sector by the first half of next year.

The target is individual business owners who have not previously used guarantees from the Korea Credit Guarantee Fund or the Korea Technology Finance Corporation. The target will be expanded to corporate companies in the future. It can be processed through the IBK mobile banking app 'i-ONE Bank Corporate' or 'Boxpos'.

Yoon Jong-won, the bank president, said, “Through this agreement, small and medium-sized enterprises can conveniently receive guaranteed loans,” and added, “We plan to expand the scope of cooperation to digital innovation projects that can improve financial accessibility for SMEs in the future.”

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