Woori Bank's 'Wibee Bank' Service Ends After 8 Years

The first mobile banking app launched in 2015 in the financial sector
‘WooriWON Banking’ sees decreased usage as its role grows
Service within the app transferred to WooriWON Banking

Woori Bank's mobile banking application (app) 'Wibee Bank,' which was the first of its kind in the financial sector, will be discontinued after 8 years due to low usage.

According to Woori Bank on the 23rd, the Wibee Bank service is scheduled to end on the 27th of next month. All services within the app, including the simple payment service 'Wibee Pay,' will also be discontinued. However, Woori Bank plans to support continued use of these services through its currently operating app, 'Woori WON Banking.'

Wibee Bank is a first-generation mobile banking app launched in 2015 during the tenure of Woori Bank President Lee Kwang-gu, aiming to secure a lead in the mobile platform business as the first in the domestic financial sector. It supported transfer functions such as simple remittance, QR code remittance, and Dutch pay, and also provided foreign exchange services like 'On-Gukmin Simple Overseas Remittance' and 'Mobile MoneyGram.'

The termination of the Wibee Bank service is due to a significant decline in usage. This is because Woori WON Banking, launched after Wibee Bank, performs most of the core smart banking functions. Woori Bank had already implemented a mobile platform strategy in 2020 that reduced the role of Wibee Bank, so the service termination was anticipated. The mobile messenger 'Wibee Talk,' launched alongside Wibee Bank, also failed to achieve notable success and was discontinued in 2020.

A Woori Bank official stated, "Based on the operational know-how of Wibee Bank, we will strive to enable Woori WON Banking to provide more customer-friendly and hyper-personalized services."

Wibee Bank

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