Shinhan acquires minority stake in local ICT solutions provider

Wednesday 22 September 2021 15:12 CET | News

Shinhan Bank has acquired a minority stake in a local information and communication technology solutions and services provider to improve its partnership for development of a new corporate banking platform.

Shinhan Bank acquired a 1.97% stake worth USD 61.4 million in Douzone Bizon for a strategic partnership, which would allow the lender to utilise the ICT solutions firm’s corporate accounting and ecommerce data.

According to Shinhan, the platform would allow businesses to handle financing and even accounting without visiting a brick-and-mortar branch, making ‘banking as a service’ available for the firms.

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Keywords: acquisition, banks, ecommerce, data
Categories: Banking & Fintech | Payments General
Countries: Korea, Democratic People's Republic of
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Banking & Fintech

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