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Fintech

  • CRDP

    CRDP

    In 2016, KT commercialized credit reporting delivery platform (CRDP) which provides optimized functions and information required for credit rating, leveraging KT’s massive telecom service user base and big data. KT CRDP helps to improve credit risk assessment for the thin and no filers who do not have enough credit/financial histories and therefore have been underserved by the financial firms. Using Telco Score with the traditional Credit Bureau (CB) rating, financial benefits can be expanded to the previously credit-underserved people with finely segmented credit ratings.
    1. Applicants. Loan Application, Agreement on Privacy Uasage 2. Financial Institutions (Banks, Cards, etc). CB & Telco Information Requirement 3. CB. Telco Information Requirement. 4. KT. Telco Information Feedback 5. CB. New Credit Information(CB + Telco) 6. Financial Institutions. Additional Financial Benefits. CB only. CB : Credit Bureau. Thick Filer : CB rating, Approved, Refer, Reject. CB + CRDP : CB rating, Telco credit rating, Approved, Refer, Reject

    References

    K bank (South Korea)
    Bank. Credit Scoring System. Telco DB - KT. Phone Bill info, Usage level, Payment history. Telcom Behaviors', Traffic(Stable housing), Roaming(Overseas trip). Payment DB. Othe share-holder DB. Financial DB - Conventional CSS with financial DB only.
    photo of K bank building
    K bank, which is the first internet-only bank in Korea, has used CRDP to maximize credibility of credit scoring from 2017. It offers mid credit loan to the right customer with telco big data analysis.
    In 2018, KT implemented CRDP into an internet-only bank in one of the developing Asian countries which has a prepaid-dominant telecommunication market. The bank provides competitive and easily accessible loan services with credit rating based on telco big data.

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    K-Telco Score Introduction
  • Internet Only Bank

    Internet Only Bank

    Internet-only bank is regarded as the next-generation bank using ICT technology. KT has tried to provide innovative services that didn’t exist before in the Korean banking industry. In 2017, K bank was established as the first step of internet-only bank and has offered customer-friendly services without any branch. In the future, K bank will play important roles for ICT innovation and will lead banking industry as the first internet-only bank in Korea.
    Mission. Digital Based Bank creating new standard to financial life. Vision. NO.1 Mobile Bank. Distinct Value. Customization - Customized offering. Simple-Most Convenient Subscription/Utilization. Always - Open channel 24H x 365D. Price - Competitive Interest & Fee. Key Competency. Venture Culture. IT+Finance Fusion Manpower. Partnership Network. Customized Marketing Capability. Lean & Open IT system.
    Traditional Incumbent Bank. Bank Centric (off-line channel) : Mobile/web - ATM - Call Center Internet-Only Bank. Customer Centric(digital channel) : Mobile/web - ATM - Call Center

    References

    K bank (South Korea)
    photo of K bank building
    photo of K bank office
    photo of K bank open ceremony
    K bank was established in 2017 as the first internet-only bank in Korea. K bank designed 100% non-facial process without document required and provide one-step banking service in one app. Through K bank, KT provides digital bank creating new standards for financial services through converging finance and ICT.

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    K, bank Introduction