BNK Busan Bank Joins Korea SOHO Bank Consortium

BNK Busan Bank Joins Korea SOHO Bank Consortium… Accelerating Financial Innovation for Small Business Owners BNK Busan Bank has officially joined the 'Korea SOHO Bank Consortium,' led by Korea Credit Data (KCD), opening a new chapter in financial innovation for small business owners. With this latest addition, the consortium now includes four banks—Woori Bank, NH Nonghyup Bank, OK Savings Bank, and BNK Busan Bank—along with financial institutions such as Eugene Investment & Securities and Woori Card, and IT companies like Megazone Cloud and IT-Sen, forming an even stronger financial network. Busan Bank's participation is expected to be a significant turning point, strengthening community-focused financial support while driving nationwide financial service innovation for small business owners. KCD, which leads the consortium, operates 'Cashnote,' a super-app for small business owners used by 2.3 million businesses. It serves as a core platform encompassing overall business operations, including business management, financial services, product purchasing, and community features. BNK Busan Bank plans to develop customized, innovative financial products for small business owners in the Busan region, linking with Cashnote's extensive data-driven services. Furthermore, by combining KCD's advanced fintech technology with Busan Bank's accumulated digital financial service expertise, they plan to introduce more sophisticated and differentiated financial solutions for individual business owners. An official from Busan Bank stated, "The main purpose of participating in this consortium is to pioneer new markets based on digital technology and promote win-win financial cooperation with local small business owners, under the active support of our financial holding company." They emphasized that various banking services would be provided by combining Cashnote data with the bank's financial expertise. Kim Dong-ho, CEO of KCD, expressed his ambition, stating, "With Busan Bank's joining, the Korea SOHO Bank Consortium has built an even stronger financial ecosystem. We will do our best to create an environment where small business owners can access finance more easily through our nationwide network and community-based services, and to build 'the first bank for small business owners.'" This is expected to be an important step that will inject new vitality into financial support for small business owners.