WebCash and NH Nonghyup Bank Launch Cloud Branch, Korea’s First Cloud-Based Corporate Financial Management Service


WebCash (CEO Yoon Wan-soo) and NH Nonghyup Bank announced that it will provide cloud-based corporate finance management service (CMS), named ‘Cloud Branch’, to companies for the first time in Korea. This service is available through the NH FinTech cloud service zone.

Leveraging core financial solutions technologies, Cloud Branch provides domestic financial transaction service in the cloud environment. Since all financial transactions can be easily accessed from one place, companies can enjoy not only basic financial services but also specialized services such as differential payment, without needing to visit a bank.

Cloud Branch reconfigures the services suitable for the cloud and provides companies with enterprise-specific financial services such as deposit, withdrawal, inquiry, product registration, salary transfer and corporate card management at half the price of existing specialized financial services. Although this service is similar to other Internet banking services in that it provides financial services without having a physical bank, it can also handle enterprise-level financial tasks by linking with a company’s enterprise resource management (ERP) system that contains information such as HR, salary and inventory management. In addition, Cloud Branch is known for strong security management and internal system authorization capabilities.

“With Cloud-based CMS, companies will be able to handle their business easily without any cumbersome and complicated server configuration and management process. We will work together with NH Nonghyup Bank to expand our cloud-based FinTech offerings.” stated Yoon Wan-soo, CEO of WebCash.

“Cloud Branch is a service that responds to the Government’s cloud-friendly policy. We will continue to develop a variety of services tailored to the cloud environment, making the financial-related work of enterprise customers more efficient.” said a representative from NH Nonghyup Bank.

Image Source: NewsWire

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