- Company news
April 28, 2020
South Korea-based internet-only bank KakaoBank has partnered with local issuers to offer credit card service.
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Through the credit card service, the bank aims to offer tailored services to customers as it enables it to accumulate customers’ big data without card issuance licence.
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KakaoBank has partnered with local issuers Shinhan, KB Kookmin, Samsung and Citibank that will issue and manage four new credit cards and design perks and rewards as well.
KakaoBank project manager Woo Il-sik said: “We will offer credit card services to meet expectations of our customers on general banking services.”
To apply for the new card, consumers will need to go through a registration process on the Kakao Bank app, which requires simple personal information inputs.
Due to the lack of documental and other review requirements, the bank expects to draw consumers with lower credit ratings such as students, graduates, housewives and freelance workers.
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By GlobalData
Apart from the credit card service, the bank is also adding loan recommendation and stock account opening service to its platform.
It also intends to create a synergy between KakaoBank and KakaoPay with new integrated service.
Earlier this month, KakaoBank announced its plan to launch a fintech lab in the later half of this year for the development of payment technologies.
The bank is preparing to go public in the second half of this year.
Free Whitepaper
Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?
Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions.As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network.Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others.Read our report and gather insights on the following topics:
- Traditional vs zero trust protection
- Key advantages and solution providers
- Major industries and key players
- Drivers and challenges
- Top funded startups and Mergers & Acquisitions
- Implementation challenges
By GlobalData
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