Hana Bank Introduces Industry’s First Non-Face-to-Face Guaranteed Loan One-Stop Service

President Lee Ho-sung of Hana Bank. (Photos: Hana Bank)

Hana Bank announced on Sept. 1 that it has signed a business agreement for the promotion of non-face-to-face guaranteed loans with the Korea Federation of Credit Guarantee Foundations (KOREG).

By doing so, the bank will introduce a non-face-to-face loan one-stop service to enhance financial accessibility for small business owners and self-employed people.

This agreement aims to build a digital financial environment where the entire process, from guarantee application to loan execution, can be handled in a one-stop manner through the KOREG’s Guarantee Dream App by introducing Hana Bank’s Banking as a Service (BaaS) for the first time in the Korean banking industry.

The Non-Face-to-Face Guaranteed Loan One-Stop Service is scheduled to be introduced this coming September, allowing self-employed people in need of a loan to easily process it through Guarantee Dream App without having to visit a branch.

This is expected to provide practical financial convenience to small business owners busy with their livelihoods by significantly reducing time required for loans and simplifying complex procedures.

Seo Yoo-seok (left), vice president of Hana Bank’s Industrial Group, poses for a photo with Lee Sang-cheon, an executive director of the KOREG.

When a customer applies for a guarantee or loan through Guarantee Dream App, the necessary documents are automatically transmitted to Hana Bank via public MyData.

Loan agreements or execution can also be processed through Guarantee Dream App which is linked to Hana Bank’s system.

Hana Bank will continue providing strong support for inclusive finance such as subsidizing guarantee fees for customers who apply for guarantees or loans through this service in order to alleviate actual financial burdens on small business owners struggling with high interest rates and inflation.

“Through this agreement, we expect that busy self-employed people will be able to use financial services more easily and conveniently,” said Seo Yoo-seok, vice president of Hana Bank’s Industrial Group.

“Hana Bank will continue to cooperate closely with the KOREG to enhance financial accessibility for small business owners and continuously expand inclusive finance that can be felt in the field.”

Meanwhile, Hana Bank is practicing inclusive finance through which the bank grows together with small business owners and self-employed people by selling One and Only Business Loan which provides up to 10 million won to businesses at traditional markets and mom and pop stores with a limit of 300 billion won, and by expanding One More Hana Soho Success Ladder Loan for self-employed people who have faithfully repaid their loans to more than one trillion won.

Raising 107.4 Million Won in Donation with McDonald’s Korea

Hana Bank announced that it has raised a total of 107.4 million won in donations through Lucky Donation Run Savings, an ESG-specialized financial product launched in collaboration with McDonald’s Korea to promote a culture of giving.

Lucky Donation Run Savings is a customer-participatory ESG financial product launched and sold based on a business agreement signed between Hana Bank and McDonald’s Korea last November.

It was designed so that a certain amount selected by the customer is linked to a donation upon maturity, allowing anyone to easily and naturally participate in charitable activities.

In addition, Hana Bank has implemented a model that spreads positive influence and co-creates social value with customers by accumulating an additional donation of 1,000 won per account whenever a customer signs up for the savings account.

Thanks to customers’ big interest and active participation, all Lucky Donation Run Savings Accounts matured at the end of July, raising a total of 107.4 million won in donations.

The entire amount of the donation will be delivered to Ronald McDonald House Charities Korea (RMHC Korea), a non-profit foundation that supports severely ill children requiring long-term treatment and their families.

“This fundraising effort is significant in that it demonstrates the value of sharing through the financial activity of saving, together with our customers,” said a Hana Bank official.

“Hana Bank thank all the customers who participated in the donation, and will continue to expand events that allow customers to easily and conveniently participate in creating social value in their daily lives through various partnerships and financial products.”