Finda Completes Acquisition of Daewon Savings Bank; Gets Final Approval from FSC

On the 21st, Finda received approval from the Financial Services Commission for a change in Daewon Savings Bank’s major shareholder as part of the acquisition. Founded in 1998, Daewon Savings Bank is headquartered in Gyeongju, North Gyeongsang Province.

The acquisition price is 12 billion won in total. Finda secured a 60% stake to become the largest shareholder, while JB Financial Group holds the remaining 40% through THE JEONBUK BANK LTD.

Through the acquisition, Finda and JB Financial Group have established a complementary partnership. Finda will lead technological innovation and the operation of “AI-native banking,” while JB Financial Group will handle risk management, loan soundness management, internal controls and regulatory compliance, drawing on THE JEONBUK BANK LTD.’s banking expertise.

Founded in 2015, Finda has recorded a cumulative loan brokerage volume of 15 trillion won since its online loan comparison and brokerage service was first designated an innovative financial service by the Financial Services Commission in May 2019. It currently partners with 98 financial institutions, one of the highest numbers in the industry, and brokers more than 300 loan products.

The acquisition will enable Finda to offer financial products tailored to customers and designed in-house. It plans to launch deposit and lending products that meet consumer demand, including checking accounts and mid-interest-rate personal loans.

In particular, Finda plans to combine the financial data it has accumulated with its IT and AI capabilities to implement AI-native banking. It will introduce AI agents across its operations.

Finda CEO Lee Hye-min said, “We will evolve beyond comparing and brokering financial products into a company that directly designs and provides the financial services consumers need,” adding, “We will actively respond to customers’ diverse financial needs by drawing on the financial data and AI technology we have accumulated over more than a decade.”