Kakao Bank taps MCS Group for Mongolia expansion

Kakao Bank said Thursday it has signed a memorandum of understanding with MCS Group, marking a key step in its entry into the Mongolian financial market and global expansion. The agreement, signed at Kakao Bank’s Pangyo headquarters on April 3, outlines cooperation in strategic investment in M Bank, joint development of alternative credit-scoring models, advisory support on products and user experience, and potential joint ventures in Central Asia.