Finda, a fintech company, is set to become the first in South Korea's fintech industry to enter the savings bank sector. The company plans to expand its operations beyond loan comparison and brokerage to directly design and supply financial products.
On October 21, the Financial Services Commission approved Finda's acquisition of Daewon Savings Bank during its regular meeting.
This marks the first time a domestic fintech company has acquired a savings bank. Established in 1998, Daewon Savings Bank is headquartered in Gyeongju, North Gyeongsang Province.
The total acquisition amount is 12 billion won, with Finda securing a 60% stake to become the largest shareholder. The remaining 40% is held by JB Financial Group through Jeonbuk Bank.
The two companies aim to enhance the competitiveness of the savings bank by combining Finda's financial data and information technology capabilities with Jeonbuk Bank's operational experience in the financial sector.
Finda plans to implement 'AI Native Banking' by leveraging its accumulated financial data and artificial intelligence (AI) capabilities. The company will also introduce AI agents across its operations to improve productivity and operational efficiency, offering optimized financial products tailored to customers' financial situations.
JB Financial Group will support risk and credit soundness management, internal controls, and regulatory compliance based on Jeonbuk Bank's banking expertise.
As part of this acquisition, the two companies plan to launch their own financial products, including deposit accounts and mid-interest credit loans. They intend to design products that cater to individual customers' financial situations using accumulated financial data and AI technology, while also enhancing operational efficiency through the integration of AI agents.
Lee Hye-min, CEO of Finda, stated, "Through this acquisition, we will evolve from merely comparing and brokering financial products to directly designing and providing the financial services that consumers need. We aim to create tangible changes that consumers can feel by utilizing financial data and AI technology."
Founded in 2015, Finda began offering online loan comparison and brokerage services in 2019 and has since surpassed 15 trillion won in cumulative loan brokerage amounts. The company currently partners with 98 financial institutions to broker over 300 loan products.
On October 21, the Financial Services Commission approved Finda's acquisition of Daewon Savings Bank during its regular meeting.
This marks the first time a domestic fintech company has acquired a savings bank. Established in 1998, Daewon Savings Bank is headquartered in Gyeongju, North Gyeongsang Province.
The total acquisition amount is 12 billion won, with Finda securing a 60% stake to become the largest shareholder. The remaining 40% is held by JB Financial Group through Jeonbuk Bank.
The two companies aim to enhance the competitiveness of the savings bank by combining Finda's financial data and information technology capabilities with Jeonbuk Bank's operational experience in the financial sector.
Finda plans to implement 'AI Native Banking' by leveraging its accumulated financial data and artificial intelligence (AI) capabilities. The company will also introduce AI agents across its operations to improve productivity and operational efficiency, offering optimized financial products tailored to customers' financial situations.
JB Financial Group will support risk and credit soundness management, internal controls, and regulatory compliance based on Jeonbuk Bank's banking expertise.
As part of this acquisition, the two companies plan to launch their own financial products, including deposit accounts and mid-interest credit loans. They intend to design products that cater to individual customers' financial situations using accumulated financial data and AI technology, while also enhancing operational efficiency through the integration of AI agents.
Lee Hye-min, CEO of Finda, stated, "Through this acquisition, we will evolve from merely comparing and brokering financial products to directly designing and providing the financial services that consumers need. We aim to create tangible changes that consumers can feel by utilizing financial data and AI technology."
Founded in 2015, Finda began offering online loan comparison and brokerage services in 2019 and has since surpassed 15 trillion won in cumulative loan brokerage amounts. The company currently partners with 98 financial institutions to broker over 300 loan products.
* This article has been translated by AI.
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