Jeju Bank Launches DJ Bank Brand, Expands ERP-Based Corporate Finance

Jeju Bank has launched DJ Bank, a digital brand focused on corporate finance, and is moving ahead with enterprise resource planning, or ERP-based, business banking.

Jeju Bank said it unveiled DJ Bank’s first set of solutions on April 2 at Douzone Eulji Tower in central Seoul. Attendees included Shinhan Financial Group Chairman Jin Ok-dong, Jeju Bank CEO Lee Hee-soo and Korea Federation of Banks Chairman Cho Yong-byeong, the bank said.

DJ Bank is a digital corporate-finance brand developed by Jeju Bank in cooperation with Douzone Bizon, a company specializing in business software.

The solutions introduced include an alternative credit-scoring strategic model; “DJ The Ju” corporate parking account; loans to support artificial intelligence transformation, or AX solutions; and ERP-linked accounts receivable secured loans. ERP systems integrate management functions such as accounting, human resources, purchasing, inventory and sales.

Jeju Bank said it aims to reduce paperwork, delays and information gaps in corporate finance, which it described as heavily reliant on in-person processes.

The alternative credit-scoring model combines ERP data with other alternative information to refine standardized credit assessments. The bank said it will use the model to better identify strong customers and potential risks, while expanding productive financial support and strengthening risk management. It also plans to broaden inclusive finance for small business customers, which it said have high closure rates.

With the new offerings, corporate customers can use key financial services within their ERP systems without moving to separate channels, the bank said.

Jeju Bank also outlined a longer-term vision for DJ Bank, including building an autonomous financial system that links forecasting, recommendations and execution through tools such as an AI chief financial officer that combines ERP data and AI.

“ERP banking is a business we have considered for a long time to connect companies’ real work with finance and move beyond the limits of traditional corporate finance that has evaluated today’s companies using past data,” Jin said. He added that he hopes it will become “a starting point for a new corporate finance model” and help the regional bank “make a bigger leap.”

Lee said DJ Bank is “a new starting point where finance works within a company’s workflow.” He said the ERP data-based model will make risk identification more precise and help find strong customers who previously received too little attention, while pursuing both productive and inclusive finance.