3 years ago

Life & Info: Korea to launch open banking services in December

Arirang News
Arirang News
Korea will launch open banking services starting in December, …allowing customers to use a single application to access their accounts at different banks and make payments.
A senior official at the Korea Financial Telecommunications and Clearings Institute says computer systems will be built and tested between May and October, …and fintech firms will be able to access the system from December.
Under the new system,... fees are forecast to drop to around four cents per transaction-- one-tenth the current level.

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