Kakao Bank Exports 'K-Digital Finance' to Mongolia via AI Credit Evaluation and Equity Investment

Kakao Bank is sharing South Korea's digital finance innovation model with Mongolia and advancing strategic investments and technology collaboration with local digital banks. Leveraging its internet banking expertise and proprietary alternative credit evaluation model, the bank is accelerating its overseas financial market expansion. During the Korea-Mongolia Business Forum, Kakao Bank's CEO Yun Ho-young presented case studies on technology-driven financial inclusion, including its AI-based credit evaluation system that serves customers with limited financial histories. The bank is also formalizing cooperation with Mongolia's largest business group, MCS Group, to co-develop alternative credit models and expand AI-based financial services. A strategic equity investment agreement with MCS Group's digital bank, M Bank, was signed, with Kakao Bank planning to finalize the investment within the year. This collaboration marks Kakao Bank's first export of its domestic internet banking model and AI financial technology to international markets.