KakaoBank discussed ways to cooperate on digital finance with Mongolia\'s central bank and MCS Group, the company said. KakaoBank introduced its digital banking technology, customer-focused UX and UI strengths, and data-based risk management and credit scoring know-how. It also shared progress in cooperation with MCS Group and M Bank and discussed expanding digital financial services suited to Mongolia. KakaoBank plans to develop an alternative credit scoring model with MCS Group.

KakaoBank said on April 9 it signed a business agreement with Mongolia\'s largest company, MCS Group, to accelerate its entry into the Mongolian financial market. The two companies agreed to cooperate on a strategic equity investment in M Bank, upgrades to credit scoring models and joint development of alternative credit scoring, advice on products, services and UX and UI, and joint entry into Central Asia. KakaoBank plans to apply its credit assessment and risk management capabilities in Mongolia.