Toss Bank Joins Korea Federation of Banks as 23rd Full Member

[Asia Economy Reporter Kiho Sung] The Korea Federation of Banks announced on the 14th that Toss Bank has completed the membership procedures, including the general meeting resolution, and has become a full member of the Federation. Accordingly, Toss Bank became the 23rd full member of the Federation, following Kakao Bank, which joined in May 2017.

Toss Bank, which obtained its official license this year, plans to provide easy and convenient banking services through the Toss platform. It will introduce non-face-to-face credit loan products utilizing Toss app data, deposit products based on competitive interest rates and various rules, and a check card that offers multiple seasonal benefits with a single card.

Additionally, services targeting small and medium-sized enterprises and small business owners are being prepared in collaboration with various shareholders such as Hana Bank, Korea Standard Chartered Bank, and the Korea Federation of SMEs.

The Korea Federation of Banks stated, "We will actively support Toss Bank, the third internet-only bank, to successfully start operations and contribute to strengthening competitiveness and creating new value through the digital transformation of the banking industry."

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