Search results for Financial Telecommunications and Clearings Institute
Finance
Overseas Koreans to digitise financial power of attorney, process directly at banks without international mail
Inconvenience for overseas Koreans who had to send powers of attorney by international mail to handle banking in South Korea is expected to ease. The Overseas Koreans Agency, the Financial Services Commission and the Korea Financial Telecommunications and Clearings Institute signed an MOU with eight financial companies to launch a digital consular-certified financial power of attorney service. The service will transmit certified documents electronically to banks and use a blockchain-based system to verify authenticity.
Finance
Jeju Bank services to be available at post offices nationwide from May
Jeju Bank customers will be able to use banking services at post office counters without paying additional fees. Korea’s Postal Service said it signed an agreement with Jeju Bank and the Korea Financial Telecommunications and Clearings Institute on the joint use of the post office counter network. Services will start at post offices in Jeju from May and expand to post offices nationwide from September.
Finance
Toss shares digital finance operations with Philippines central bank, World Bank
Viva Republica, operator of South Korean fintech app Toss, said a delegation made up of officials from the Philippines central bank and the World Bank visited Toss on April 22 to review its digital financial services operations. The visit was part of a payment system training programme hosted by the Korea Financial Telecommunications and Clearings Institute. The delegation examined Toss’ one-app structure and risk management, including transaction monitoring and an AI-based fraud detection model.
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Finance
KB Kookmin Bank launches Korea-Indonesia QR payment service
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Telecommunications & Media
KT overhauls organisation, cuts executive ranks about 30 percent to focus on renewal and efficiency
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Finance
Naver Pay opens credit loan refinancing service for sole proprietors
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Finance
Banks, fintech brace for battle over refinancing for sole proprietors
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Finance
Online loan refinancing for sole proprietors to open, internet banks race to dominate
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AI & Enterprise
Upstage unveils in-house LLM Solar Open 100B as open source
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Finance
Fintech hot issue: AI services spread across finance as BNPL market expands