AND Global and Kyobo LifePlanet signed MOU to bring AI based lending service to Korea

It is our great pleasure to announce that AND Global and Kyobo Lifeplanet, Korea’s first online life insurance company, has signed Memorandum of Understanding to deliver a digital consumer loan products in Korea.

The partnership aims to deliver digital consumer loan products with AI credit scoring. We hope that it will enhance the digital loan service, while strengthening the company’s position as an insurtech pioneer.

AND Global CEO, Mr. Anar Chinbaatar noted that “As a result of this initiative, we hope to deliver the very best of financial technology to Kyobo Lifeplanet’s customers.” The implementation in Mongolia has won LendMN “The Best Digital Bank” by Asiamoney.

Kyobo Lifeplanet’s, CEO, John Haksang Lee said “we hope to diversify our asset management portfolio while creating synergy with the primary service through increasing service traffic. Also, he emphasized “this will be an opportunity to grow one step ahead, as the insurtech company who is striving for digital transformation”.

Kyobo Lifeplanet’s drive and accomplishments towards digital transformation has been recognized and received “Digital Disruptor” in Korea award from the 3rd “IDC Digital transformation (DX)” by the International Data Corporation in September 2019.

Written by