| Mobile Web

Search results for BankSalad

Finance

PG firms team up to block fraudulent payments, rate hike fallout in focus

South Korea\'s fintech sector is expanding payment infrastructure while strengthening security and user protection. The Financial Supervisory Service and the Korea Fintech Industry Association launched a consultative body with major payment gateway firms to curb suspicious transactions. The Bank of Korea raised its policy rate to 2.75 percent, the first hike in 3.5 years, prompting tighter household lending management. Authorities also plan higher deposits and trading units for single-stock leveraged ETFs.

Finance

Banksalad, Sogang University study MyData-based alternative credit scoring

Banksalad is working with Sogang University to analyse the relationship between consumer spending patterns and individual credit risk using MyData, and to develop an alternative credit scoring model based on the findings. The study used about 200,000 card payment records and Banksalad\'s consumption category framework. The company plans to develop the \'Banksalad Score\' with HonestAI and Korea Credit Bureau and pursue commercial use in the financial sector.

Fintech

On2U firms, savings banks linked-investment loans top 500 billion won, expand lending to mid-low credit borrowers

Cumulative personal credit loans jointly supplied by online investment-linked finance firms and savings banks have exceeded 500 billion won, with most users classified as mid-to-low credit borrowers and the delinquency rate below 1 percent. The Korea Online Investment-Linked Finance Association put the total at 502.2 billion won as of July 3. It said the average interest rate is 11.95 percent a year and the average borrower credit score is 739.