K Bank Launches Internet-Based Firm Banking Service

The First Among Internet-Only Banks
Debuting on a Domestic Secondhand Trading Platform

K Bank announced on the 17th that it will be the first internet-only bank to offer internet-based firm banking services.

Firm banking is a system that connects banks and businesses to provide services such as online deposits and withdrawals, withdrawal approvals, statement notifications, transfer processing result inquiries, and account name inquiries. In particular, internet-based firm banking allows partners to use firm banking services without the burden of building dedicated lines or the costs associated with line usage, enabling savings in time and costs. Partners can quickly use only the amount of firm banking services necessary for implementing their products and services.

K Bank plans to start the service on domestic secondhand trading platforms and expand its partners. Other banking services such as virtual accounts will also be converted to internet-based services, aiming to establish itself as a leading business in 'Banking as a Service (BaaS)'.

A K Bank representative said, “We have implemented firm banking services that strengthen information security despite being internet-based by combining various information protection technologies,” adding, “Through continuous IT innovation, we will provide differentiated BaaS solutions for partners and strengthen our position as a digital financial platform.”

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