What is 'Firm Banking'?
Firm Banking Services provide a company with bulk data transfer and its result transmission service using an exclusive line, the internet or VAN (Value-added Network). A large volume of files in a specific format is sent to KEB and KEB will process it and then its result will be delivered to a company.
Firm Banking focuses on the following services
Payment Service
How-it-works :
A company makes payment to suppliers and operating fund in a file format.
KEB receives the data to process it at a pre-determined date and time.
KEB delivers its results to a company.
Who can benefit from this service? :
Insurance company, Department store, Construction company, Manufacturing company, and Service sectors.
What results are expected?:
Simplifying business processes in accounting, Cost-effective, saving manpower and remittance charges
Fund Concentration Service
How-it-works :
A company selects a subsidiary account to collect payments for supplied goods as agreed upon terms and conditions.
A company uses non-bankbook transaction and deposits fund into a child account.
Fund collected will be transferred to the mother account of a company the next business day.
And its results will be transmitted to a company.
¡Ø A company inputs CMS code in the process and a recipient gets to know who is a remitter.
Who can benefit from this service? :
Credit Card Company, Insurance Company, and Distribution Company
What results are expected? :
Enhancing effectiveness in fund management, Preventing financial fraud
Automatic Account Transfer Service
How-it-works :
A company signs up for 'Automatic Account Transfer Service' provided by KEB.
KEB collects payments, including installment payment, insurance premium, and credit card bill payment, from customers.
KEB transfers them into an account of a company and delivers details to a company.
A company collects payment and its details from KEB.
Who can benefit from this service? What business fields are subject to benefit from this service? :
Insurance company, Credit Card company, telecommunication company, Gas Corp.
What results are expected? :
Timely Payment
Streamlining business processes and saving manpower
Transaction Information Transmission
This is the service in which KEB sends a user company its transaction details like deposits, loans and foreign exchange or financial information (interest rate) data.
Bills Receivable Service
How-it-works :
KEB is entrusted by the user company with the bills receivable from a user company's business (branch) office through KEB's branch office network.
KEB clears or collects the notes and deposits to the user company's settlement account after sending the details of trust to the user company.
The result of the transaction will be sent to the user company, as well.
Bills Payable Service
How-it-works :
A user company wants to pay purchases to its supplier by a bill.
KEB receives the bill and trust request statement to note recipient's bills in custody bankbook, and sends the result of the handling to the user company.
Later the bill itself will be sent to the recipient's trading branch office and delivered or retained.
Deposit will be made to the recipient's account through clearing or collecting the note on the settlement date.
Inquiries and Application
Sung Pill, Hong (Phone: 82-2-729-8221) : Manager of e-Business Division
Young Kyung, Jung (Phone:82-2-729-8231) : Manager of e-Business Division
Required Documents: Documents verifying a user's real name, Certificate of registered corporate seal and certified copy of corporation registration
System Compatibility and Test: ¡æ Sung Hwa, Shin, Manager of IT Division (Phone:82-2-729-0615)
Business Hours for Service Application : Weekdays 09:30 ~ 16:30