Firm recognized for serving customers with low credit ratings by making loans available to them and improving their convenience thru digitalization
The winners of the 2018 State Industry Grand Awards including Pres. Shin Hong-seob of KB Savings Bank, pose for a photo session at Grand Hilton Hotel Ballroom in Seodaemoon Ward in Seoul, where the event took place on May 17.(Photos: KB Savings Bank)
President Shin Hong-seob of KB Savings Bank.
KB Savings Bank was the recipient of the 2018 State Industry Grand Award in the Customer Satisfaction sector. The KB Group affiliate won high reviews for its financial services, in particular those tailor-made for customers with low credit ratings.
The savings bank set up a system for certification of customers, using blockchain technology. The bank introduced new two products, including the mobile app known as “KB Kind Finance for the General Public,” and a certification service to finalize the setup of an integrated individual borrowing limit check. The system allows individual borrowers to pick out the kind of loans they want after reviewing the interest rates on various loan products on display.
In February, the bank introduced the “Sun Beam Online Loan,” which is provided without borrowers coming to the bank. The procedures are completed on mobile apps, including opening bank accounts, confirmation of the borrower’s identity, submission of papers, and signing loan papers.
This month, the bank is slated to introduce the Kakao certification system, which is a non-face facility that takes care of loans and setting up accounts, in place of the complicated certification procedure, without the customers visiting the bank. The bank is set to expand the non-face system further to electronics loan documentation and issue of various certificates.
They also will introduce the Smartphone AIM Service as part of its digitalization plan of its banking facilities to boost accessibility and comfort for doing banking transactions. for the customers.
The savings bank also captured the 2018 Customer Love Brand Grand Award in the savings bank sector for four years in a row.
The affiliate of the KB Financial Group has been in charge of providing loans to the general public under the management philosophy a kind-hearted finance for the general public with low-credit ratings and the classes of people who have been financially isolated. President Shin Hong-sub said the bank will continue to work for the benefit of its customers, to boost their values and convenience, and take care of their banking transactions under the bank’s mutual survival management strategy.
KB Financial Group, Inc. is a holding company that engages in providing financial services through its subsidiaries. It operates through the following segments: Corporate Banking, Retail Banking, Other Banking Services, Credit Card, Life Insurance, Investment and Securities business.
The Corporate Banking business segment provides services such as loans, overdrafts, deposits, credit facilities and other foreign currency activities. The Retail Banking business segment offers services such as private customer current accounts, savings, deposits, consumer loans and mortgage loans.
The Other Banking business segment provides services relating to banking business besides corporate banking and retail banking services. The Credit Card business segment offers services such as domestic as well as overseas credit and debit card operations. The Investment and Securities business segment provides services such as investment banking and brokerage.
The Life Insurance business segment provides products such as life insurance and wealth management. The company was founded on September 29, 2008 and is headquartered in Seoul.