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Finance

P2P lenders gain momentum as rules ease; financial CEO appointments gather pace

Korea\'s online investment-linked finance industry is accelerating mid-rate lending to mid-to-low credit borrowers and sole proprietors after regulatory improvements. The Financial Services Commission plans to raise self-funding investment limits and financial-company linked investment caps, and expand limits for general investors. Major financial institutions are also stepping up CEO selection processes, while regulators tighten oversight of bank asset quality, governance and internal controls. Payment and digital-asset businesses widen partnerships and services.

Finance

Bizplay, Woori Card team up to expand corporate business trip management services

Bizplay, a Webcash affiliate, is partnering with Woori Card to expand business trip management and card-related services for corporate customers. The companies signed a memorandum of understanding on Sept. 18 to improve convenience for corporate travel and card tasks, Bizplay said on Monday. Bizplay will broaden access to its bzp trip management and non-face-to-face card reporting services, while Woori Card plans to market to companies and widen channels to recruit new corporate clients.

Finance

Bizplay builds electronic receipt system for Catholic Medical Center, integrating 10 institutions

Bizplay, a Webcash affiliate, has built an electronic documentation system to integrate expense evidence processing for The Catholic University of Korea Catholic Medical Center and a total of 10 affiliated institutions, including hospitals. The company said on Sept. 9 it completed the project, its first electronic receipt build for a domestic “Big 5” hospital. The system standardises procedures by linking internal systems and applies AI optical character recognition to paper receipts and invoices.