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Korean banks to test run 'open banking' system

2019-10-29 5 Dailymotion

Starting tomorrow, people in South Korea will be able to manage multiple bank accounts through a single app.<br />The Financial Services Commission says the country's banks are starting a test run of what's called the "open banking system."<br />It enables users to transfer money and check balances without having to open up several apps, and it offers lower commissions.<br />It'll first be joined by 10 banks, including Nonghyup, Shinhan and Kookmin,...with eight others to join later.<br />

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