KB Kookmin Bank, SAP Korea expand push for next-generation corporate finance

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