KakaoBank Expands Open Banking Service to Savings Banks and Securities Firms

[Asia Economy Reporter Kiho Sung] KakaoBank announced on the 11th that it will expand the institutions eligible to use its open banking service to include savings banks and securities companies.

KakaoBank's open banking service allows users to select 'My Account' at the top of the app screen, then check the balance of accounts from other financial companies and register/manage them through the 'Other Banks' menu. Deletion and modification of registered accounts are possible at any time.

With this expansion of the open banking service, the financial companies accessible through KakaoBank will increase from existing banks to include securities companies, savings banks, and mutual finance companies.

KakaoBank has enabled open banking customers to register multiple accounts at once. By selecting accounts retrieved from Account Info, the integrated account information management service of the Korea Financial Telecommunications & Clearings Institute, users can easily register multiple accounts without directly entering individual financial institutions' account numbers. If using Account Info is difficult, direct registration is also possible.

A KakaoBank representative stated, “More customers can now easily and conveniently register the accounts they want and use open banking. KakaoBank plans to continue enhancing services according to customer needs.”

KakaoBank will also hold an event for open banking customers from the 11th of this month to the 10th of next month. Customers who complete 'Import' from two or more accounts under their name during the event period can participate. Participants will be entered into a draw to win iPhones and coffee coupons. Detailed information can be found on the KakaoBank mobile application and website.

This content was produced with the assistance of AI translation services.