BankSalad Achieves BEP in November... "Record Highest Performance Every Quarter"

BankSalad, a fintech (finance + technology) company specializing in MyData, announced on the 23rd that it has achieved the monthly break-even point (BEP). This marks the first profitable turnaround since the official introduction of MyData in 2022.

In November, BankSalad recorded operating profit and net income in the black as its revenue increased by 197% compared to the same month last year. The company has consistently posted record-breaking quarterly results since last year by achieving balanced growth across business areas such as loans, cards, and insurance. In particular, the health data-based insurance diagnosis service, launched earlier this year as the industry's first, contributed to November insurance sales growing approximately sevenfold compared to January.

BankSalad explained that cost efficiency was also a factor in securing financial stability. While significantly reducing customer acquisition and retention costs through its in-house data utilization capabilities, the monthly active users (MAU) actually increased. As of November, MAU more than doubled compared to last year, while marketing expenses for acquiring new customers remained at the same level during the same period.

BankSalad plans to achieve continuous quantitative growth next year by discovering new business models and expanding its financial product brokerage business.

A BankSalad representative said, "In the fierce competition of MyData, BankSalad has shown record growth in customer acquisition and profitability over the past two years through its unique creativity, technological capabilities, and commitment to innovation. Next year, we will further advance by proving the scalability of our digital financial platform based on BankSalad’s growth know-how and strengthened corporate culture."

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