A customer experiences KakaoBank’s AI providers on the firm’s sales space through the 2025 Korea Fintech Week at aT Middle in Seoul, Nov. 26. Yonhap
KakaoBank, Korea’s largest internet-only financial institution, goals to speed up its world growth by deepening its partnership with Superbank, an Indonesian digital financial institution through which it made its first abroad fairness funding, the corporate mentioned Sunday.
KakaoBank acquired a ten % stake in Superbank in 2023 as a part of a partnership with Seize, laying the groundwork for the Korean lender’s push into abroad markets. For the reason that funding, KakaoBank has labored intently with Superbank throughout a variety of areas, together with the financial institution’s launch, product and repair planning, and advisory assist on person interface and person expertise design, steadily constructing its worldwide capabilities.
Most not too long ago, KakaoBank helped launch Superbank’s new monetary product, Kartu Untung, which was developed by way of greater than a yr of joint work primarily based on KakaoBank’s idea. The financial institution was concerned all through the method, from product planning to cellular service design.
Kartu Untung, which means “fortunate card,” presents each day lottery-style cashback rewards to prospects who deposit 50,000 rupiah. The gamified financial savings product shortly gained reputation, attracting over 100,000 customers inside simply two weeks of its launch.
For KakaoBank, direct involvement within the product planning and growth processes of an abroad monetary establishment has been notably significant, because it has deepened the financial institution’s understanding of Southeast Asian markets and prospects whereas offering a possibility to establish and check new enterprise fashions that might be utilized in future collaborations with world monetary companions.
Superbank, in the meantime, is rising quickly, having constructed a buyer base of about 5 million by leveraging the ecosystems of its main shareholders. Practically 60 % of its customers are acquired by way of Seize and the digital pockets service OVO, underscoring the sturdy synergies created with its shareholders.
Superbank’s speedy development can also be anticipated to spice up returns on KakaoBank’s funding. After reaching a quarterly revenue simply 9 months after its launch, Superbank is transferring forward with plans for an preliminary public providing, backed by stable efficiency and development potential, and is scheduled to listing on the Indonesia Inventory Alternate later this month.
Constructing on its profitable partnership with Superbank, KakaoBank plans to additional broaden its world enterprise. In Thailand, the place the Korean agency secured regulatory approval in June and is getting ready to launch a digital financial institution, it should take the lead in each product and repair growth in addition to cellular app creation.
The corporate additionally plans to deepen cooperation with Seize, its accomplice for Southeast Asian operations, to discover extra alternatives for synergy.
“Cooperation with Superbank has supplied a possibility to strengthen our model presence in Southeast Asia whereas showcasing the technological capabilities of Korea’s monetary trade,” a KakaoBank official mentioned. “We plan to pursue new ventures by way of consortium partnerships with main world gamers and broaden our worldwide enterprise by constructing on the expertise and networks we have now collected.”
