Finda Savings Bank names Park Yeon-hyun, ex-Toss Bank executive, as inaugural CEO

Finda has appointed Park Yeon-hyun, former head of corporate products at Toss Bank, as the inaugural CEO of Daewon Savings Bank, which Finda recently acquired. Park led the launch of "Hamkke Daechul" ("Together Loan"), Korea's first co-lending product, and will now spearhead the fintech firm's push to build a digital savings bank powered by its financial data.

Finda announced Friday that it had named Park as the first CEO of what will be rebranded as Finda Savings Bank.

Born in 1989, Park graduated from Korea University with degrees in business administration and statistics before working as a financial strategy consultant at Deloitte Consulting. He joined Toss Bank as a founding member in 2020, where he helped establish the bank and shape its business strategy while driving new ventures.

At Toss Bank, he served as project owner of the co-lending squad, overseeing the entire process — from conception and product design to launch — of the co-lending product. He went on to serve as head of strategy development and later head of corporate products, advancing new financial businesses including co-lending and corporate banking.

Finda valued Park's expertise in lending and his hands-on experience building a bank from the ground up. "Park was a founding member of Toss Bank and has a deep understanding of overall bank operations that Finda has not had firsthand experience with," a Finda official said. "Given that Finda Savings Bank will not have a large staff, swift decision-making will be critical. We expect him to fill that role."

On Wednesday, Finda received approval from the Financial Services Commission to change the major shareholder of Daewon Savings Bank as part of the acquisition — the first time a domestic fintech company has taken over a savings bank. The total acquisition price is 12 billion won ($9.05 million), with Finda securing a 60 percent stake and Jeonbuk Bank, an affiliate of JB Financial Group, holding the remaining 40 percent.

Finda plans to combine Park's experience in financial product development with its own data and AI technology to strengthen the savings bank's lending competitiveness. The company intends to analyze customer financial needs using data accumulated through its existing loan comparison and brokerage platform, then apply those insights to credit screening and product design.

Park's co-lending background also raises the prospect of his introducing a new lending model rarely seen in the savings bank sector. Ahead of the planned January launch, he is expected to oversee all preparations — including relocating the head office, changing the corporate name, creating a logo, promoting the brand and opening pre-registrations for new products.

"The competitiveness of a financial product depends on how accurately you understand the customer's situation and needs," Park said. "Drawing on the data and customer insights Finda has built up, I will design products that genuinely meet the needs of financial consumers and work to create a new banking model driven by data and technology."