Open Banking South Korea

South Korea: Let the app wars begin (Morgan Davis, euromoney.com)

South Koreans can start deleting some of the banking apps that clutter up their mobile phone screens.  Under the country’s new open banking system, customers no longer need a plethora of icons representing different banks and payment systems, but can access their accounts with a single tap. Thanks to new open-banking regulations, customers can monitor […]

Open Banking South Korea

South Korea FinTech Gets Initial Approval For Online Bank (pymnts.com)

South Korean FinTech startup Viva Republica, creator of the financial services platform Toss, was granted preliminary approval for a digital banking license from the Financial Services Commission of Korea, a Monday (Dec. 16) press release indicated. “Toss has already become the leading financial super app in Korea. With a digital bank license, we will be able to […]

Open Banking South Korea

South Korea to formally launch open banking service this month (koreaherald.com)

Commercial banks in South Korea plan to formally launch an open banking service later this month, in a move to boost convenience and lower transaction costs for their customers, the country’s financial watchdog said Sunday.The service, which enables bank customers to use virtually all banking services of any bank here with just one smartphone application, […]