IBK Industrial Bank of Korea has launched its \"IBK Group Service\" and entered competition in group account services, aiming to help families, clubs and other groups manage funds more transparently and conveniently. The bank said the service is available through the i-ONE Bank (personal) app by linking an existing account or opening a new group account. It offers real-time sharing of transaction history, detailed reports and tools to manage dues.

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.