BNK Kyongnam Bank Becomes First Regional Bank to Launch "Yellow Umbrella Mutual Aid" on Mobile Banking App

A Mobile Banking Enrollment Process Established
for Sole Proprietors to Easily Use the Yellow Umbrella Mutual Aid Program

BNK Kyongnam Bank has launched a service that allows customers to easily use the Yellow Umbrella Mutual Aid program via mobile without visiting a branch.

BNK Kyongnam Bank became the first regional bank to offer the Yellow Umbrella Mutual Aid program on its mobile banking app, and has been running a customer event since August 1.

The Yellow Umbrella Mutual Aid program is an insurance system operated by the Korea Federation of SMEs to support the livelihood stability of small businesses and self-employed individuals. It offers a variety of benefits, including an income tax deduction of up to 6 million won, annual compound interest payments, and local government incentive subsidies for those who wish to receive them.

BNK Kyongnam Bank has established a process within its mobile banking app that allows sole proprietors to easily use the Yellow Umbrella Mutual Aid program. This includes paperless enrollment through MyData, automatic application form completion, and real-time subscription.

To use the service, customers simply need to access the "Product Management" menu in the BNK Kyongnam Bank mobile banking app and select "Yellow Umbrella."

Subscription and modification services are available from 9:00 a.m. to 5:30 p.m., while withdrawals can be made from 9:00 a.m. to 3:30 p.m.

To commemorate the launch of the Yellow Umbrella Mutual Aid program on mobile banking, BNK Kyongnam Bank is holding a customer event until September 30.

During the event period, the first 300 customers who enroll in the program with a contribution of at least 100,000 won will receive a 20,000 won cashback on a first-come, first-served basis.

The event will end early if all prizes are claimed, and customers who withdraw their subscription will be excluded from the event.

Lee Kangwon, Head of the Corporate Customer Department, stated, "The Yellow Umbrella Mutual Aid program offers various benefits that help small business owners achieve financial stability, including preparing for retirement benefits. We have launched it on mobile banking so that customers can conveniently use the service without visiting a branch. BNK Kyongnam Bank will continue to strive to enhance our services to meet the diverse needs of our customers."

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