KakaoBank said on Monday it has launched a “hidden account finder” service that allows users to check and organize accounts scattered across multiple financial companies. The service lets users view accounts opened at 26 financial firms, including banks and mutual finance institutions, from within the KakaoBank app. Users can identify inactive accounts, select accounts to close and have remaining balances deposited into an account in their name or donated.

Geopolitical risk from the Middle East is shaking monetary and financial policy, with the Bank of Korea holding its policy rate at 2.50 percent for a seventh straight meeting. Governor Rhee Chang-yong warned stagflation cannot be ruled out depending on developments. Financial authorities are expanding support by 26.8 trillion won and boosting contributions and small loans for vulnerable groups. Banks are testing new credit-scoring models for small merchants and firms are widening AI- and platform-based services.