JB Financial Group, one of largest retail financial group in South Korea, has provided to customers diverse financial solutions through its affiliates.
The origins of two banking affiliates, Jeonbuk Bank and Kwangju Bank, lie in mainly the Southwest provinces of South Korea on the purpose of helping customers and businesses to thrive and economies to prosper. The affiliates continue to expand their footprints beyond their regions through innovation, advancement and a unique range of offers and services. The Group also has an affiliate, named Phnom Penh Commercial Bank, in Cambodia which is expected to be a bridge of the Group for an expansion in South East Asia.
The Group also has one of top-tier auto-financing companies in South Korea, JB Woori Capital. The multi-financing affiliate seeks to diversify its revenue pipeline through innovative product development as well as to simultaneously rationalise its business portfolio to secure the company’s growth potential.
The Group launched JB Open Bank platform which will create a global banking alliance across countries as well as bring a new cooperation model with financial institutions. The Group also expects the platform to be able to help financial institutions by newly engaging customers from Fintechs, and Fintechs by mitigating considerable amounts of efforts that Fintech start-ups are usually spending in current regulations. The Group has successfully implemented the platform in its home country and been discussing the implementation of the platform with several banks and Fintechs across regions.