K Bank

K Bank (Hangul: 케이뱅크) is an online bank based in South Korea. Its largest owner is the telecommunications company, KT Corporation.[1]

K Bank
TypePrivate company
IndustryFinancial services
FoundedJanuary 17, 2016 (2016-01-17)
HeadquartersJongno, Seoul,
South Korea
ServicesOnline banking
Mobile banking
Loan and deposit
Debit card
Overseas remittance
OwnerKT Corporation
Number of employees
7201 (2017)
Websitewww.kbanknow.com/ib20/mnu/PBKMAN000000

History

K Bank launched in 2017 when both KT and Kakao were given licenses to launch Internet-only banks in Korea.[2] K Bank was the first to launch, becoming the first new bank to launch in two decades.[3] When it first launched, the bank was able to attract 250,000 new customers in its first two weeks.[4]

Services

Since its launch, the bank has offered the same products as traditional banks from offering debit cards to offer small loans to consumers.[5]

References
  1. https://www.bloomberg.com/news/articles/2015-11-29/south-korea-grants-kakao-kt-led-groups-permits-for-online-banks
  2. https://www.straitstimes.com/asia/east-asia/internet-only-banks-should-spur-financial-innovations-the-korea-herald
  3. https://www.rfigroup.com/global-retail-banker/news/asia-first-internet-only-banks-south-korea
  4. http://english.chosun.com/site/data/html_dir/2017/07/31/2017073101570.html
  5. https://www.straitstimes.com/asia/east-asia/internet-only-banks-should-spur-financial-innovations-the-korea-herald
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