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Finance
Toss, Woori Finance Savings Bank launch Soho Score loan for sole proprietors
Viva Republica, operator of Toss, will have its alternative credit scoring model for sole proprietors, Soho Score, applied to Woori Finance Savings Bank’s screening for unsecured credit loans to individual business owners. Toss said it launched a sole proprietor-only unsecured credit loan, VitaWON BIZ, using the model. Soho Score was jointly developed by Toss and Korea Credit Data. The companies aim to widen financial access for mid- to low-credit sole proprietors.
Finance
Toss, Koryo Savings Bank and PFCT to upgrade loan screening for mid-to-low credit borrowers using Toss Score
Viva Republica, operator of Toss, is partnering with Koryo Savings Bank and PFCT to enhance loan screening for mid-to-low credit customers using alternative credit assessment data. The three companies will develop a credit scoring model tailored to Koryo Savings Bank and embed it in PFCT’s real-time lending strategy solution. Koryo Savings Bank plans to introduce Toss Score in phases from the second half of this year and expand its use.
Finance
Toss launches credit loan for sole proprietors with IBK Savings Bank
Viva Republica, operator of Toss, said on Monday it will launch a credit loan for sole proprietors with IBK Savings Bank using Toss Soho Score. The companies signed a memorandum of understanding to cooperate on advancing data-based credit assessment for sole proprietors. The new loan applies the Soho Score model, developed with Korea Credit Data, to an external financial institution for the first time, combining it with IBK Savings Bank’s existing credit scoring system.
