Banksalad
“Can a MyData aggregator monetize Korea's open-banking rails by becoming the default marketplace for loans, cards, and insurance?”
HQSeoul, South Korea
IndustryFintech / Personal finance (MyData)
The story
Banksalad is a Korean MyData-licensed personal finance app that started as an expense tracker and credit score / financial product recommendation engine. Under Korea's MyData framework it pulls user-authorized data from banks, cards, insurers and brokerages via the Korea Financial Telecommunications & Clearings Institute (KFTC) Open Banking system and CB bureaus (KCB), and monetizes through embedded loan, card, insurance and refinancing product marketplaces. Recent moves expand from consumer to sole-proprietor (SMB) lending using its own credit-scoring model.
Product timeline
2023
Joined Korea's refinancing loan infrastructure (대환대출 인프라).· lending
2026
Launched business loan refinancing service for sole proprietors leveraging MyData-based credit scoring.· lending
Regulated entities
2
regulatory licences held by Banksalad
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in Banksalad’s embedded-finance stack
Payments / PSP
뱅샐머니 (Banksalad Money, self-operated prepaid e-money / wallet)
Lending
in the full report
Open banking
in the full report
Accounting gap: none
7 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.