Refer Report
Kakao Bank announced on the 27th that it signed a financial consulting (advisory) contract with Indonesian digital bank ‘Superbank’.
Kakao Bank made a 10% equity investment in Superbank in September last year as part of its partnership with Grab for business cooperation in Southeast Asia. This is Kakao Bank’s first equity investment.
Superbank is showing rapid growth, securing 2.5 million customers within 5 months of its official launch based on its partnership with Grab and differentiated products and services.
This is fast compared to the 6 months to 1 year it took for other digital banks in Indonesia to reach 1 million customers.
Superbank is characterized by increasing convenience and financial accessibility by utilizing the ecosystem of Grab, a major shareholder.
Not only can you open a Superbank account right away through the Grab app, but you can also connect your Superbank account as a payment method for Grab’s various services such as Grab Food and Grab Bike.
Since acquiring a stake in Superbank, Kakao Bank has been closely cooperating in various fields, including products and services, and UI/UX advisory, to launch Superbank.
Through this consulting contract, we will provide advice for the launch of new financial products by Superbank.
Kakao Bank will utilize Kakao Bank’s unique mobile banking know-how and service planning capabilities to support Superbank in introducing innovative financial services in the Indonesian market.
Superbank will introduce a new financial service containing Kakao Bank’s ideas to the Indonesian market in the first half of next year.
The company expects that this will be an opportunity to test new business models that can be applied when collaborating with overseas financial companies in the future, in addition to expanding investment returns by improving Superbank’s own competitiveness.
A Kakao Bank official said, “It will be an opportunity to increase the influence of the Kakao Bank brand in the global market and promote the technological prowess of Korean finance.”
Reporter Kim Ye-won yen88@wowtv.co.kr
Source: Korean