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.

KakaoBank said it will shift to an \"AI native bank\" model, using AI and global expansion as twin pillars to move beyond deposit-led growth into payments, investments and pensions. It plans new app sections for investments and payments and will roll out new card products in the second half. It will combine app-based data with a finance-focused large language model and expand conversational interfaces. KakaoBank also formalised plans to enter Mongolia and is reviewing issuance and distribution of a won-based stablecoin, subject to legal and regulatory changes.