Yello Mobile, which claims to be Korea's fastest growing mobile internet company, has signed a MoU with SBI Holdings, Japan's largest internet financial group, and Yello Financial Group, a Korean accelerator for financial technology companies to leverage SBI Holdings' global business network and resources to support its business development efforts in Japan and Southeast Asia.
Also, Yello Mobile will work in collaboration with Yello Financial Group to support SBI Holdings' recently launched financial technology business in Korea. SBI Holdings will leverage Yello Mobile's strong market position and digital marketing capabilities, as well as Yello Financial Group's extensive network of financial technology companies, to enhance both its product offering and marketing strategies and more effectively reach Korea's attractive mobile market.
Yello Financial Group has a portfolio of more than 30 growth companies and provides mobile-based, personalized financial services and products. These include payments platforms, peer-to-peer lending services, asset management products and other financial services providers. It operates independent of Yello Mobile.
SBI Holdings provides a wide range of financial services including securities, banking and insurance and claims to be the world's first Internet-based financial conglomerate. It has recently diversified its business portfolio to include pharmaceuticals, health food and cosmetics.