Enterprise solutions company Younglimwon SoftLab said on Monday it signed a memorandum of understanding with KB Kookmin Bank to link ERP and financial services, focusing on improving corporate customers' cash management efficiency.

Based on the agreement, the two companies plan to connect financial application programming interfaces and cash management service solutions within ERP. They aim to enable corporate customers to handle real-time cash management and financial tasks on ERP screens without moving to a separate finance app.

They plan to increase connectivity between corporate ERP work and financial work. They also aim to reduce the workload that arises during cash management, raising work efficiency and improving convenience in using financial services.

The companies agreed to continue identifying various cooperation models linking ERP and financial services by using their technology, infrastructure and customer networks. They also agreed to expand touchpoints with corporate customers through joint marketing.

A KB Kookmin Bank official said, "We will bring together the capabilities of both companies to create an environment in which corporate customers can use financial services more conveniently." The official added, "We will continue to expand innovative embedded finance services for corporate customers based on collaboration with various companies."

Kwon Young-bum (권영범), CEO of Younglimwon SoftLab, said, "This agreement will serve as an opportunity to raise convenience and efficiency for customers by organically connecting ERP, a core corporate work system, with financial services." He added, "Based on cooperation with KB Kookmin Bank, we will actively identify new services that can respond to diverse financial needs of corporate customers and increase the value of using ERP."