KB Kookmin Bank is joining hands with Bank of New York Mellon (BNY) to expand cross-border digital payments and overseas remittance services.

KB Kookmin Bank said on Sept. 29 it signed a strategic memorandum of understanding with BNY on innovation in cross-border digital asset payment and remittance services on Sept. 28 Eastern time at the Miami Beach Convention Center in Florida.

The signing ceremony was held at SIBOS 2026, a global financial services event hosted by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

Baek Ki-hyun (백기현), head of KB Kookmin Bank's foreign exchange business division, and Jennifer Barker (Jennifer Barker), head of BNY's global payments and trade finance business, attended, among others.

Under the agreement, the two sides will review ways to improve the convenience of overseas remittance services for foreign customers.

KB Kookmin Bank plans to use BNY's global payments network and Pay to Wallet capabilities to provide tailored overseas remittance services for foreign nationals and international students.

It will also review the possibility of introducing new cross-border payment methods and linking channels by combining the two sides' global networks and foreign exchange and payment service capabilities.

A KB Kookmin Bank official said, "We have built a foundation for cooperation to innovate overseas payments with a trustworthy global partner," adding, "We will expand differentiated financial services in digital payments, digital assets and next-generation financial infrastructure."