Regional Banks and Internet-Only Banks Spark Marketing 'Big Bang'... BNK Busan Bank and K Bank to Launch Joint Loan Product
by Kim Yongu
Published 23 Jan.2025 09:57(KST)
Updated 01 Aug.2025 14:21(KST)
Strategic Marketing Partnership Signed on January 22
Regional and Internet-Only Banks Join Forces for Joint Loan Products and Innovation
Regional banks and internet-only banks are joining forces to launch new joint loan products and pursue innovative marketing strategies together.
BNK Busan Bank (President: Bang Seongbin) announced on January 23 that it held a 'strategic marketing partnership' agreement ceremony with K Bank (President: Choi Woohyeong) at the Busan Bank headquarters on January 22 to drive innovation in financial services.
This partnership aims to maximize win-win synergy through a variety of digital collaboration projects and to provide better services to non-face-to-face customers.
As their first project, the two banks plan to launch a joint loan product in the second half of this year that leverages the strengths of both institutions. A joint loan is a product jointly offered by two or more financial institutions working together. This represents a new business model that utilizes the advantages of each institution.
Busan Bank brings over half a century of expertise in financial services and risk management, while K Bank offers excellent digital customer acquisition capabilities and a superior mobile user experience. Through the upcoming joint loan product, the two banks aim to provide greater financial benefits to customers.
The two banks plan to collaborate not only on personal loans but also on business loans for small business owners and self-employed customers as they work toward launching new products.
Bang Seongbin, President of Busan Bank, stated, "Based on the strategic cooperation between internet-only and regional banks, we plan to continuously develop new business models and pursue joint marketing efforts," adding, "We will focus our efforts on becoming a bank that delivers tangible benefits to customers by always putting them first."
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