On August 2, Woori Bank Vietnam Limited (Woori Bank) and Seoul Guarantee Insurance Company (SGI) signed a cooperation agreement (MOU) to jointly develop and launch new credit products in the future.
Representatives of Woori Bank and SGI at the cooperation agreement signing ceremony
Through this agreement, Woori Bank will continue to proactively localize its business by developing new credit products, where the entire process from loan application, approval and guidance is done on the phone. SGI also hopes that this cooperation will meet the needs of expanding its global underwriting business and believes that this will be a milestone marking a positive synergy between the two parties in the future.
Since establishing an official legal entity in Vietnam, Woori Bank has always strived to promote the localization of its products and services. To achieve the goal of “The No.1 Bank in Digital and Retail (Digital, Retail No.1 Bank)”, Woori Bank is focusing entirely on the retail business based on digital platforms. Thereby, it has grown significantly to overcome the limitations of foreign banks and compete with leading local banks in Vietnam.
The upcoming product launched by Woori Bank and SGI in cooperation will be deployed on the basis of loan approval and disbursement without documentation, without field appraisal for employees working for more than 6 months at the good reputation companies.
With this new product, customers who are approved by the credit evaluation model developed by Woori Bank and approved to apply for Seoul Guarantee Insurance will be able to disburse loans of up to VND 500 million in a convenient way. conveniently and easily through financial services on smartphones.