KakaoBank Corp Launches Auto Financing Comparison Service "Strengthening Platform Competitiveness"

[Financial News] KakaoBank Corp strengthens its competitiveness as a loan platform by launching an 'automobile finance comparison service'.
On the 8th, KakaoBank Corp announced the launch of an 'Automotive Finance Comparison Service' that allows users to check the financial products and benefits needed to purchase new or used cars in one place.
Customers purchasing a used car can compare auto loans, used-car installment plans, and credit loans from more than 70 affiliated financial institutions, including KakaoBank Corp's used-car purchase loan, and select the product that best suits them.
New-car buyers can compare cashback benefits and installment terms offered by different credit card companies. By entering the vehicle price, down payment, and installment period, users can check the cashback benefits and detailed installment terms offered by partner card companies.
Customers seeking long-term rentals can use the rental service provided by partner Hyundai Capital Services through the KakaoBank Corp app. They can also check car insurance premiums and various other information needed to purchase a vehicle.
Previously, when purchasing a car, customers had to check loan and installment terms or cashback benefits separately with each financial institution and credit card company. KakaoBank Corp has implemented a service that allows users to compare the financial products and benefits needed to purchase a car in a single app, eliminating the need to switch between multiple channels.
KakaoBank Corp has expanded its comparison service to include auto financing, following credit loans and mortgage loans. It plans to strengthen the competitiveness of its loan platform by continuously expanding the products and partners available for comparison.
"We have prepared a service that allows customers to conveniently compare and use auto financing information in the KakaoBank Corp app, which was previously difficult to compare at a glance," KakaoBank Corp said. "We will continue to expand various products and services needed in our customers' financial lives to provide a more convenient financial experience."
Meanwhile, KakaoBank Corp is making a full-scale entry into the auto installment financing market by acquiring a 100% stake in Maston Capital (5 million shares) last June. Following the acquisition, KakaoBank Corp plans to establish a stable business foundation in the short term and, in the long term, promote the digital transformation of the auto finance market by collaborating with various partners, including automotive distribution platforms.

[email protected] Lee Hyun-jung Reporter