“Credit score went up, but...” Banksalad finds favorable loan terms
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- 2026-10-29 10:14:17
- Updated
- 2026-10-29 10:14:17
According to financial industry sources on the 29th, the Financial Services Commission newly designated the ‘Low-Interest Loan Proxy Inquiry (Agent) Using MyData’ service developed by Banksalad as an innovative financial service (sandbox) at its regular meeting on the 21st.
The service can apply for a preliminary loan assessment on a customer’s behalf and notify them of the result when their creditworthiness changes, for example, because of a change in their credit score or income. This allows customers to identify products with more favorable interest rates and loan limits without repeatedly checking loan terms themselves.
Loan interest rates and limits change frequently based not only on personal factors such as credit scores, changes in income or employment, card issuance, and loan disbursement history, but also on external conditions such as interest rates and the screening criteria of individual financial institutions. The core of this service is to provide customers with convenient information by taking all these variables into account.
With a single authorization, customers can avoid the hassle of checking loan terms one by one or applying for assessments. They can revoke the authorization at any time if they wish.
Banksalad expects the service to help address the ‘interest-rate cliff’ faced by borrowers with medium to low credit scores, a key challenge for inclusive finance. Because even small changes can significantly affect their loan terms, these borrowers spend relatively more time and money exploring suitable options.
A Banksalad representative said, “We designed this service for customers who find it difficult to keep checking for changes in loan terms amid their busy daily lives. We will use MyData and AI agent technology to create a financial platform environment where anyone can make sound decisions.”
[email protected] Kim Tae-il Reporter