Woori Bank will provide professional consultations on individual retirement pension plans (IRPs) for Naver Pay users, allowing them to receive remote advice and proceed to sign up. The bank said it began the service from July 22 under a partnership with Naver Pay. It said it is the only commercial bank to work with Naver Pay in IRP consultations. The service is available through Naver Pay’s new pension home.

Fintech and Big Tech firms are expanding financial services beyond payments and transfers into identity verification, offline payments, venture capital and corporate finance. Toss, Kakao Pay and Naver Pay can use a government network to verify resident registration cards, strengthening non-face-to-face checks and fraud prevention. Naver Pay launched Npay Startup with the Financial Supervisory Service. Kakao Pay Securities secured an investment dealing licence. Financial groups are revamping second-half strategies as household lending rises and regulators review IT controls and network separation rules.