SEOUL, Feb. 10 (Korea Bizwire) — South Korea’s major banks are rapidly closing physical branches, citing the rise of digital banking and cost-cutting measures, even as they continue to report record-high interest income. The trend, however, is sparking concerns over reduced financial accessibility for elderly customers and those unfamiliar with mobile banking. KB Kookmin Bank [...]
SEOUL, March 7 (Korea Bizwire) — The number of customers for internet banking in South Korea continued to grow in 2022 as more online services are available and people prefer transactions on the go, central bank data showed Tuesday. Registered customers for mobile banking totaled some 207.04 million at the end of last year, up [...]
SEOUL, Oct. 6 (Korea Bizwire) — South Korea’s internet banking services continued to grow in the first half, with the number of users and daily transactions rising to new highs, central bank data showed Wednesday. The number of internet banking users, including mobile banking, came to 186.5 million as of end-June, up 5.6 percent from [...]
SEOUL, Nov. 11 (Korea Bizwire) — Scenes of people remitting money at bank windows are becoming a relic of the past in South Korea. Excluding mobile banking, the classic types of non-face-to-face transactions such as Internet banking, telebanking and automated teller machine (ATM), are also losing popularity across most age groups. Only elderly people older [...]
SEOUL, Oct. 2 (Korea Bizwire) — The number of automated teller machines (ATMs) installed across South Korea has been shrinking over the past five years. The Financial Services Commission reported that the number of ATMs used by 15 commercial banks shrank by 8,193 machines over five years, standing at 35,208 machines as of July this [...]
SEOUL, Sept. 28 (Korea Bizwire) — South Korea’s internet banking services continued to grow in the first half, with the number of users and daily transactions rising to new highs, central bank data showed Monday. The number of internet banking, including mobile banking, came to 164.8 million as of end-June, up 3.5 percent from six [...]
SEOUL, April 1 (Korea Bizwire) — South Korea’s Internet banking services continued to grow in 2019, with the number of users and daily transactions climbing to new highs, central bank data showed Wednesday. The number of internet and mobile banking users came to about 159.2 million as of end-2019, up 8.6 percent from a year [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korea formally launched an open banking service on Wednesday in the latest move to boost convenience and lower transaction costs for customers. The new system allows bank customers to use any mobile banking application of their choosing to access their bank accounts at any local bank and to [...]
SEOUL, Oct. 1 (Korea Bizwire) — The value of daily transactions of mobile banking services in South Korea surpassed the 6 trillion-won (US$5 billion) mark for the first time, central bank data showed Tuesday. The value of daily transactions of mobile banking services stood at 6.04 trillion won in the first half, up 10.8 percent [...]
SEOUL, Mar. 28 (Korea Bizwire) — South Korea’s Internet banking services grew at a fast clip last year, with the number of daily transactions and their total value reaching record highs, central bank data showed Thursday. The number of online banking service users came to a record 146.56 million as of the end of 2018, [...]