앱 하나로 모든 계좌 관리...'오픈뱅킹' 열린다<br /><br />Getting rid of all those cumbersome, power-sapping and often barely -- if ever -- used apps on our phones. <br />Sound good right? Well in South Korea, we may be entering a new era.<br />That's because beta testing for a new banking service launches in South Korea today. <br />The so called 'open banking' service allows for users to use ONE single bank app to do ALL their banking.<br />Lee Seung-jae has more on how the service works. <br />Mobile banking saves us the trouble of having to actually go to a brick and mortar bank to transfer money or access our account. <br />Having multiple accounts used to mean having to install apps for every bank you have an account with.<br />However, thanks to the latest 'open banking' service being launched in South Korea on Wednesday,... bank account holders will only need one app to access all their different bank accounts.<br />So how does it work?<br />Say you have a checking account with Shinhan Bank,... but a savings account with Woori Bank. <br />Just the Shinhan Bank app alone will allow you to access your Woori Bank account, as well.<br />Along with Shinhan and Woori,... a total of ten banking institutions will take part in the beta test.<br />However, when the service goes live on December 18th,... other internet banks, such as K-Bank and Kakao Bank will utilize the service,... as well as fintech companies such as Toss and Naver Pay.<br />Not only will the new service be more convenient,... but users will be exempt from transaction fees and receive other benefits.<br />" It offers consumers higher deposit rates and lower loan rates, and when combined with fintech, they can offer a wide range of financial products combined with other technical features."<br />And with concerns of hacking,... the new service has also strengthened security and consumer protection.<br />"Only organizations that have been approved can participate in the open banking system, and only those that have undergone security checks."<br />Those in the industry are also looking into the possiblility of allowing similar services at physical banks for users who have difficulty using mobile banking.<br />Lee Seung-jae, Arirang News. <br />
