MegazoneCloud Joins 4th Internet-only Bank Korea SOHO Bank Consortium

## Korea SOHO Bank Accelerates AI-based Digital Financial Innovation with MegazoneCloud Joining AI and cloud leader MegazoneCloud has joined the 'Korea SOHO Bank (KSB) Consortium,' led by Korea Credit Data (KCD) which is pursuing the establishment of the 4th internet-only bank, thereby opening a new chapter in digital financial innovation. This signifies that KSB has secured critical technological capabilities in providing customized financial services for small business owners and small and medium-sized enterprises (SMEs). Centered around KCD, prominent financial and IT companies such as Woori Bank, Woori Card, ITsens, Eugene Investment & Securities, and NH NongHyup Bank have already confirmed their participation. Amidst this, MegazoneCloud's joining is expected to overwhelmingly strengthen the KSB consortium's cloud infrastructure establishment and security technologies, and further, its capabilities in developing customized financial services utilizing generative AI. Notably, MegazoneCloud possesses specialized know-how in cloud construction and operation for the financial industry, and is therefore expected to play a pivotal role in creating the innovative digital financial environment pursued by the KSB Consortium. The core strategy of the KSB Consortium is to implement a cloud-based BaaS (Banking-as-a-Service) platform by combining KCD's nationwide network of 2.3 million businesses with MegazoneCloud's advanced technological capabilities. This not only guarantees the highest level of security in the financial sector but also lays the foundation for providing customized financial services to small business owners and SMEs nationwide through sophisticated AI-based data analysis. Notably, KCD provides its management super app 'Cash Note' to 1.7 million (as of March 2025) small business owners, and has already accumulated vast business data. Cash Note has grown beyond a ledger and sales management app to become a 'super app' encompassing all aspects of small business operations, including business management, financial services, product purchasing, and community. Furthermore, together with community companies such as Korea Payment Networks and I'm U, it has solidified its unique market position by providing integrated services to 2.3 million businesses nationwide. KCD CEO Kim Dong-ho stated that MegazoneCloud's participation will give KSB's cloud-based BaaS strategy 'the highest level of competitiveness in Korea,' and expressed his firm ambition to create 'the first bank for small business owners in Korea' together with all consortium participants. MegazoneCloud CEO Yeom Dong-hoon also emphasized his commitment to 'help small business owners and SMEs use financial services more conveniently and safely in a digital financial environment' through their stable cloud establishment, security, and AI experience, and expressed expectations for synergy with the KSB Consortium.