Finda Wins Approval to Acquire Daewon Savings Bank, First in Korean Fintech Industry

Expanding into checking accounts and mid-interest-rate credit loans

Loan comparison and brokerage company Finda has received approval from financial authorities to acquire Daewon Savings Bank. In addition to comparing and connecting customers with loan products from other financial companies, Finda will now offer deposit and loan products through a savings bank.

Finda CEO Lee Hyemin is being interviewed at the company’s office in Gangnam-gu, Seoul, on the 13th. Photo by Kang Jinhyeong aymsdream@

Finda said on the 21st that it had received approval from the Financial Services Commission for a change in the largest shareholder in connection with its acquisition of Daewon Savings Bank. This is the first time a Korean fintech company has acquired a savings bank.

The total acquisition price is approximately 12 billion won. Finda will secure a 60% stake and become the largest shareholder, while JB Financial Group's Jeonbuk Bank will hold 40%.

Founded in 1998, Daewon Savings Bank is a small savings bank based in Gyeongju, North Gyeongsang Province. Its business area covers Daegu, North Gyeongsang Province, and Gangwon Province.

Founded in 2015, Finda currently brokers more than 300 loan products from 98 financial institutions. Its cumulative loan brokerage volume has surpassed 15 trillion won. It plans to launch checking accounts and mid-interest-rate credit loans, among other products.

Finda plans to use financial data and artificial intelligence (AI) in product design and business operations. It aims to boost productivity and operational efficiency by introducing AI agents across its operations, and to offer financial products tailored to customers' financial circumstances.

Jeonbuk Bank will support risk and credit quality management, internal controls, and regulatory compliance.

Lee Hyemin, CEO of Finda, said, "Through this acquisition, we will evolve beyond brokering comparisons of financial products into a company that directly designs and provides the financial services consumers need."

This content was produced with the assistance of AI translation services.