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.

Shinhan Bank marked its 44th anniversary on Tuesday with a ceremony at its headquarters in central Seoul. Chief executive Jeong Sang-hyeok said the bank has prioritised customer satisfaction and urged staff not to forget the meaning of customers and to remember the mindset and urgency of its founding. The bank is also running customer appreciation events through its Shinhan Super SOL app and holding an employee participation running and plogging campaign with donations.