Comparing Only Refinancing Products... Fink Launches 'Daehwan Loan Service'

Simplifying the Refinancing Process Through MyData

[Asia Economy Reporter Minwoo Lee] Fintech (finance + technology) company Fink is launching a service that allows users to compare refinancing products.

Fink announced on the 27th that it will launch this "refinancing loan service." It is a dedicated refinancing loan service that enables users to quickly proceed from checking existing loan details to applying for refinancing.

Fink has linked this service with MyData (personal credit information management). Based on Fink MyData, which is connected to 275 financial institutions, users can check their existing loan details and then find optimized refinancing conditions by entering simple personal information. Once a product is selected, users are connected to partner financial institutions to proceed with the remaining processes such as final screening and repayment. Previously, refinancing required visiting multiple branches to find better loan conditions and going through various paperwork necessary for screening and repayment.

Currently, Fink's refinancing loan service allows comparison of products from four first and second-tier financial institutions: Hana Bank, Smart Savings Bank, JT Chin-ae Savings Bank, and Korea Savings Bank. The company plans to continuously add products from commercial and savings banks and further enhance the service.

Kwon Young-tak, CEO of Fink, said, "In a situation where rapid interest rate hikes are compounded by inflation threats, we proactively launched our self-developed 'refinancing loan service' to reduce consumers' interest burdens." He added, "We hope that the newly launched refinancing loan service will help resolve information asymmetry regarding consumers' loans and accelerate the activation of related systems."

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