Douzone Bizon said on the 28th that it signed a strategic memorandum of understanding with Shinhan Bank at the Douzone Eulji Tower in central Seoul to build a Bank-In platform. The companies will work together to target the embedded finance market that combines ERP and financial services.

Douzone Bizon earlier introduced DJ Bank, an ERP banking digital finance brand, with Jeju Bank, a key unit of Shinhan Financial Group. It plans to use the new agreement to strengthen its ERP-based corporate finance ecosystem and expand its customer base and platform competitiveness.

The Bank-In platform links Douzone Bizon’s ERP with Shinhan Bank’s API-based CMS. It aims to create an embedded finance environment where users can handle inquiries, transfers and foreign exchange inside the ERP without using separate banking apps or websites.

Douzone corporate customers will be able to use functions ranging from balance and transaction inquiries to domestic and overseas transfers, payroll transfers, overseas remittances and cash pooling with other banks. When a transaction is executed through an account registered in the ERP ledger, the record is automatically reflected in the ledger to improve cash management efficiency and prevent mismatches in accounting.

Douzone Bizon said the partnership secures an ERP banking foundation that strengthens its ability to provide financial and non-financial services on a single platform. Shinhan Bank aims to secure new corporate customers among Douzone Bizon ERP users and reinforce its position in the BaaS-based corporate finance platform market.