KakaoBank Credit Management Service Reaches 10 Million Customers

KakaoBank's innovative personal credit management service, 'My Credit Information Service,' has finally surpassed 10 million users, setting a new milestone in the financial market! Since its launch in October 2018, customers have been able to conveniently check all their credit information, including credit scores, card spending, loan status, and delinquency history, at a glance with just the KakaoBank app. In particular, the 'Boost Credit Score' feature has helped approximately 2 million customers experience an actual increase in their credit scores. Simply submitting proof of economic activity documents, such as health insurance payment history, positively impacted credit evaluations, providing practical assistance for many to improve their credit. Furthermore, since the end of last year, KakaoBank has been actively supporting customers' smart credit management by providing personalized 'Credit Analysis Reports' that include factors affecting monthly credit score changes and comparisons with peer averages. Beyond credit management, KakaoBank is also striving to provide necessary information throughout the customer's 'loan journey.' In the past six months, 2.4 million people have viewed 'Compare Loans,' with a quarter of these customers proceeding to actual loan applications, demonstrating high utilization. Customers can easily obtain essential information before applying for a loan, such as checking their expected loan limit and DSR in advance through 'My DSR Information,' and understanding total interest and monthly repayments with the 'Interest Calculator.' Practical services like 'Smart Jeonse Management' and 'Jeonse vs. Wolse Calculator' are also available for jeonse (lump-sum deposit) and wolse (monthly rent) customers, contributing to their housing stability. Thanks to these convenient and useful loan-related services, KakaoBank's loan-related services' Monthly Active Users (MAU) surpassed 4 million last month. KakaoBank stated its ambition: "Based on the trust of 10 million customers, we will continue to discover essential services to help customers manage their assets efficiently and provide a better financial experience." KakaoBank's next steps, as it creates new trends with customer-centric, innovative financial services, are garnering even more attention.