KakaoPay applied its alternative credit scoring model, KakaoPay Score, to the Korea Housing Finance Corp’s screening for jeonse loan guarantees. The company plans to use AI-based credit assessment leveraging mydata and payment data to improve financial access for thin-file customers and sole proprietors with limited credit histories. KakaoPay said it introduced the model, jointly developed with Korea Credit Bureau, into the guarantee process.

Toss Bank said on Tuesday it has introduced the telecommunications authentication solution SurPASS to strengthen prevention of non-face-to-face financial fraud. The solution, provided by KCB through partnerships with mobile carriers, analyses risk signals during remote transactions to help financial firms assess transaction risk more precisely. Toss Bank said it will prioritise suspected fraud such as voice phishing for checks and run additional verification linked to its internal fraud detection system.