KB Kookmin Bank, SAP Korea expand push for next-generation corporate finance
Summary
KB Kookmin Bank and SAP Korea signed an MOU on Friday to develop SaaS products and next-generation corporate banking services. The partnership aims to embed banking into ERP systems through white-label offerings, invisible banking, and joint go-to-market efforts. The companies said they want to build an embedded finance ecosystem for corporate customers using SAP technology and KB Kookmin Bank’s corporate finance expertise.
Key Facts
- The collaboration focuses on three areas: developing SaaS products on SAP Business Technology Platform, connecting ERP systems with banking services, and pursuing joint sales strategies.
- SAP Korea said the arrangement includes integrating third-party solutions into white-label products.
- The companies said ERP banking integrates payments and cash management directly into corporate ERP systems.
- SAP Korea said it passed the Financial Security Institute’s cloud service provider safety assessment for a second consecutive year in November 2025.
- KB Kookmin Bank has also been strengthening its corporate finance platform by establishing an ERP business division.
KB Kookmin Bank President Lee Hwan-ju, left, and SAP Korea CEO Shin Eun-young pose during a signing ceremony for a partnership on software-as-a-service products and next-generation corporate banking services at KB Kookmin Bank’s Yeouido headquarters, Friday. Courtesy of SAP Korea
KB Kookmin Bank and SAP Korea are joining forces to weave banking services directly into corporate software, betting that businesses will increasingly handle payments and cash management without leaving their enterprise systems.
SAP Korea said Monday that it signed a memorandum of understanding with KB Kookmin Bank on Friday to develop software-as-a-service (SaaS) products and next-generation corporate banking services.
The partnership will focus on three areas, including developing new SaaS products based on SAP Business Technology Platform by integrating third-party solutions and offering them under white-label arrangements.
The companies also plan to connect enterprise resource planning systems with banking services so corporate customers can access financial services without separate procedures, an approach known as “invisible banking.”
They will also pursue joint go-to-market strategies, using their infrastructure and sales networks to identify corporate customers and expand their services.
SAP Korea and KB Kookmin Bank said they intend to build an embedded finance ecosystem that connects enterprise resource planning (ERP) systems with banking services, combining SAP’s technology with KB Kookmin Bank’s corporate finance expertise.
The partnership comes as ERP banking, in which financial services such as payments and cash management are integrated directly into corporate ERP systems, emerges as a new area of competition in financial services.
KB Kookmin Bank has also been strengthening its corporate finance platform, including by establishing an ERP business division.
SAP Korea said it passed the Financial Security Institute’s cloud service provider safety assessment for a second consecutive year in November 2025, meeting security and regulatory requirements for Korea’s financial industry.
SAP Korea CEO Shin Eun-young said the company would continue working closely with KB Kookmin Bank to provide corporate customers with more convenient and secure financial services within ERP environments.
KB Kookmin Bank President Lee Hwan-ju said the partnership would combine SAP’s ERP capabilities with the bank’s financial expertise to expand embedded finance services for companies using ERP systems.
This article was published with the assistance of generative AI and edited by The Korea Times.
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