Finda, the operator of a loan comparison platform, is on the verge of becoming the first fintech company to acquire a savings bank.

According to the financial sector on the 19th, the Financial Services Commission (FSC)'s agenda subcommittee approved the application for a change of controlling shareholder regarding Finda's acquisition of Daewon Savings Bank on the 16th.

The FSC plans to table the agenda at its regular meeting on the 23rd for final resolution.

Assuming no exceptional issues arise, the FSC's resolution will conclude the financial authorities' licensing procedures for Finda's acquisition of Daewon Savings Bank. Having grown through loan product brokerage services, Finda launched its acquisition bid in June to leap forward as a direct financial institution equipped with both deposit and lending capabilities.

Finda entered into a stock purchase agreement (SPA) to acquire a 100% stake in Daewon Savings Bank for approximately 12 billion won. Subsequent measures are expected to proceed sequentially following the financial authorities' final approval.

As soon as the acquisition is finalized, Finda plans to hold a board of directors meeting and a shareholders' meeting to appoint a new CEO, followed by relocating its headquarters, which is currently located in Gyeongju, North Gyeongsang Province. Having already applied for trademarks such as "Finda Savings Bank (tentative name)," the company plans to announce major public disclosures, including the name change, in alignment with the relocation.

Finda envisions transitioning from the traditional savings bank structure—which relies heavily on offline branches and face-to-face operations—into a non-face-to-face, "AI-native bank." By combining its loan comparison and brokerage data accumulated since 2019 with its AI technology capabilities, the company intends to focus on nationwide digital operations.

Additionally, expectations are high for strengthening financial products specialized for mid-to-low-credit borrowers based on synergies with its second-largest shareholder, JB Financial Group.

However, several challenges remain to be addressed following the acquisition. Amid weakened soundness across the savings bank industry driven by real estate project financing (PF) defaults and rising funding costs, Finda must prove its capabilities in securing stable capital and managing risks. Furthermore, a key challenge involves balancing nationwide digital operations while simultaneously meeting mandatory lending ratio regulations within its regional operational territory.

Meanwhile, Daewon Savings Bank is a small savings bank operating within the Daegu, North Gyeongsang, and Gangwon regions. Its operations have effectively been suspended since 2015 when its former shareholder, Dae-ah Savings Bank, pursued a sale. As of the first half of this year, its total assets stood at 3.1 billion won, with total loans recorded at virtually zero.

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