Finda "Customers Refinancing 1 Month After Loan Average 3.8%P Interest Rate Reduction"

Raise the limit to 12.96 million won

[Asia Economy Reporter Minwoo Lee] Customers who refinanced their loans through Finda, a fintech company specializing in loan management, lowered their loan interest rates by an average of 3.8 percentage points (P).

Finda announced on the 11th that customers who received refinancing loan diagnosis notifications through its application (app) and refinanced their loans were able to reduce their interest rates by this amount. The refinancing loan diagnosis notification feature, introduced in August last year, recommends customers to check if there are better loan conditions one month after receiving a loan through Finda. According to Finda, 89.9% of users utilized the 'refinancing loan diagnosis' notification feature to see if they could get a refinancing loan. Among them, 57% refinanced under better conditions, lowering their interest rates by an average of 3.8%p and increasing their loan limits by 12.96 million KRW.

Finda analyzed that this was thanks to actively informing customers about refinancing possibilities and recommending customized products with better conditions through its algorithm. In fact, during the same period, the proportion of customers who executed loans on Finda with the purpose of 'refinancing' approached 25%.

Park Hongmin, co-CEO of Finda, said, "Some customers have experienced promotions, asset growth, and credit score improvements, and the number of financial institutions and loan products linked to the Finda platform is rapidly increasing, so we recommend checking at least once a month if there are better loan products available." He added, "We hope more people will use the refinancing loan diagnosis notification service to enjoy its benefits."

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