{
  "id": 15562086,
  "title": "Finda to become 1st fintech firm to acquire savings bank",
  "url": "https://urgent.news/2026/10/19/finda-to-become-1st-fintech-firm-to-acquire-savings-bank",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-19T05:12:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/business/banking-finance/20261019/finda-to-become-1st-fintech-firm-to-acquire-savings-bank"
  },
  "original_language": "en",
  "account": "Finda, a Korean loan comparison platform, is poised to become the first fintech firm to acquire a savings bank, according to industry officials. The Financial Services Commission's subcommittee granted Finda's application to acquire Daewon Savings Bank on Friday, with the regulator expected to make a final decision at its regular meeting on Wednesday. In June, Finda signed a deal to purchase all of Daewon Savings Bank's shares for approximately 12 billion won, which is equivalent to $9 million. This acquisition will enable Finda to transition from merely matching borrowers with lenders to offering a broader range of financial services, such as loans and deposits. Upon receiving final approval, Finda plans to appoint a new CEO through board and shareholder meetings. The fintech company aims to transform Daewon Savings Bank into an AI-native bank by leveraging its digital services, digital loan data collected since 2019, and AI technology to expand its online lending business across the nation.",
  "summary": "Finda, a loan comparison platform, is set to acquire a savings bank, in what would be a first for a Korean fintech company, as it looks to build an artificial intelligence (AI)-native bank, industry officials said Monday. The Financial Services Commission's subcommittee approved Finda's application to acquire Daewon Savings Bank on Friday. The regulator is set to make a final decision at its…",
  "key_points": [
    "Finda, a Korean loan comparison platform, seeks to acquire Daewon Savings Bank.",
    "Financial Services Commission grants Finda's application to acquire Daewon Savings Bank.",
    "Acquisition enables Finda to offer loans, deposits, and expand online lending business."
  ],
  "editors_take": "This acquisition signals a shift for fintech platforms as they move beyond simple matchmaking to become direct service providers by integrating digital data and artificial intelligence into traditional banking.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "Finda to become 1st fintech firm to acquire savings bank",
        "url": "https://urgent.news/2026/10/19/finda-to-become-1st-fintech-firm-to-acquire-savings-bank-15565335",
        "published": "2026-10-19T05:42:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}