World News: 14:52 GMT Monday 27th May 2019. [Yahoo Business News Feed via SPi World News]
Korea’s oldest bank, Shinhan Bank, has launched a blockchain-enabled lending platform to speed up the loan process, South Korean news agency Yonhap reports on May 27. Shinhan Bank’s blockchain-powered loan system intends to boost cost and time efficiencies in the lending process, reportedly enabling the public to apply for loans online and get their credits without face-to-face interaction. According to the report, the new system is the first initiative of its kind introduced in South Korea.
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