Kia eyes expansion to mobility solutions with 10 billion won investment in Bank Salad

South Korean carmaker Kia will invest 10 billion won into local fintech company Bank Salad to reshuffle its business into providing innovative mobility solutions.

The companies will develop mobility industry technology such as open data platforms for cars and connected cars.

They will also offer insurance services combining consumer’s purchase data from Kia and personal finance data from Bank Salad, and MyData, a government-led project to collect and analyze finance data.

Bank Salad obtained a license as a MyData service provider last month from the country‘s financial regulator, the Financial Services Commission.

As of July, Bank Salad had tracked as much as 410 trillion won worth of personal asset spending and budgeting.

Bank Salad‘s app has been downloaded over 8.8 million times.