KakaoBank, exclusively online, has launched a task force to expand its lending services to customers with low and medium credit scores, the company said Thursday.

The bank plans to roll out various loan services this year, reduce interest rates for loans and increase lines of credit, offering up to 70 million won ($ 62,927) to customers with ratings of. low and medium credit.

In addition, its new credit scoring model will take into account both financial and non-financial information, such as data on customers’ mobile subscriptions, to better assess creditworthiness.

The bank, a subsidiary of mobile messaging giant Kakao, plans to offer 3.2 trillion won in unsecured loans this year, up 1.76 trillion won from the previous year. The average monthly increase in unsecured loans is expected to be 250 billion won from June to December. By the end of 2023, the bank aims to increase the proportion of customers with low and medium credit scores to 30% of the total.

The working group will be chaired by Kim Gwang-ok, vice president of KakaoBank. Lee Hyung-joo, the bank’s commercial director, and Koh Jeong-hee, its services director, will also join the team.

“KakaoBank will try to offer a variety of loan services to customers with low and medium credit scores, one of the company’s top priorities for this year,” said the task force leader, promising to accelerate the launch of new loan services and carry out promotional actions. events.

From June 10 to July 9, the bank is hosting an event and will cut interest rates for people who borrow money through some of its services.

By Kim Young-won ([email protected])