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Finance
KB Kookmin Bank builds ERP-linked embedded finance, expands data-driven B2B finance
KB Kookmin Bank is partnering with iQuest to expand embedded finance services for small and medium-sized firms. The bank said it signed an agreement with iQuest to link SME ERP systems with financial services and broaden inclusive finance. The two plan to build a B2B embedded finance model integrating payments, cash management and financial products. Services will expand in stages, including automated transaction data collection and ERP-based product recommendations.
Finance
KB Kookmin Bank launches KB Kookmin Do-yak Loan for refinancing non-bank lenders
KB Kookmin Bank on Thursday launched the KB Kookmin Do-yak Loan, a refinancing product aimed at borrowers using credit loans from non-bank lenders. The bank said it revamped its Kookmin Hope Loan launched in 2023. Eligible applicants are customers who have used a non-bank credit loan for at least 6 months. The product has no income or tenure requirements and caps the maximum interest rate at 9.5 percent.
Finance
Stablecoin integration accelerates with credit card networks; internet banks target remittances
Efforts to link stablecoins with established card networks are picking up pace, with Visa’s annualised stablecoin settlement volume at $4.5 billion and growing monthly. Korean internet banks are active around overseas remittances. Analysts expect the four biggest financial holding groups to post a combined 18.33 trillion won in annual net profit, up 12 percent. Financial firms also announced AI transformation programmes, fintech partnerships, listings and governance reforms, alongside legal changes for tokenised securities.
