Banks in South Korea will be able to add a wide range of non-financial services to their mobile apps, including food ordering and delivery, following changes to the country’s financial regulatory system due to be introduced by the Financial Services Commission (FSC) in July 2021, according to NFC World.
The FSC also plans to allow more commercial banks, local savings banks, credit card networks and other financial entities to offer open banking services and enable customers to manage multiple accounts from a single mobile app.
“We should continue to move forward with digital innovation in our financial industry while looking for sustainable ways to maintain soundness and generate profit,” FSC vice-chairman Doh Kyu-sang told a teleconference meeting to discuss innovation in the financial industry.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
