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Finance

Naver Pay links KakaoBank sole proprietor loans, enabling comparisons across three online banks

Naver Pay has added KakaoBank’s sole proprietor credit loan products to its Npay Loan Comparison service, enabling users to compare sole proprietor loans from KakaoBank, K Bank and Toss Bank at once. Naver Pay said the newly linked KakaoBank loan has a minimum annual rate of 3.426 percent as of Sept. 17 and a maximum limit of 300 million won. It also plans to expand use of its Npay Score alternative credit model.

Finance

6 online lending firms call for standards for big conglomerate and large platform entry

Six online investment-linked lending firms that participate in financial institution-linked investments said separate standards are needed as major conglomerates and large financial platforms and institutions prepare to enter the sector. They said conflicts of interest and distorted competition could arise, especially if a powerful group runs both loan comparison and brokerage services and online lending. They also said current caps and approval procedures limit new funding, risking intensified competition for limited resources.

Finance

KPL to cut personal loan rates by 1 percentage point for new mid-to-low credit borrowers

PFCT, operator of the online investment-linked finance platform KPL, is running a promotion offering new personal credit loan users a 1 percentage point interest-rate discount. KPL said on Sept. 2 it will provide a 1 percentage point rate discount coupon to new users through Sept. 30. The promotion applies to new customers who take out loans directly on KPL without using external loan comparison platforms.