Hyundai Motor Securities Launches Open Banking Service

Photo by Asia Economy DB

[Asia Economy Reporter Ji-hwan Park] Hyundai Motor Securities announced on the 31st that it will launch an open banking service through its mobile trading service (MTS) ‘The H Mobile’.

Open banking is a service that allows users to view accounts and make transfer transactions from other financial companies in a one-stop manner with a single app. Until now, open banking services were only available in the primary financial sector and fintech companies, but since December last year, open banking services have also become available in the secondary financial sector, including securities companies.

Hyundai Motor Securities customers can register accounts held at other financial institutions on the MTS ‘The H Mobile’ or Hyundai Motor Securities’ website and make transfer transactions without fees. Transfers between accounts of other financial companies, not Hyundai Motor Securities accounts, are also exempt from fees.

Without having to use multiple apps, users can instantly transfer funds and proceed with stock purchases, fund subscriptions, and other related tasks quickly using just ‘The H Mobile’ app.

A Hyundai Motor Securities official said, "We launched the open banking service to enhance customer accessibility and convenience in financial services," adding, "We will continue to make efforts to strengthen customer service in the future."

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