[DigitalToday reporter Ji-young Lee] Woori Bank has teamed up with Samsung Financial Networks to launch three financial products available exclusively on Samsung's integrated finance app Monimo. The checking account offers an interest rate of up to 4.0 percent a year on balances up to 3 million won. The savings and deposit products apply rates of up to 8.5 percent and 4.0 percent a year, respectively.

Woori Bank said on Wednesday it introduced a package of checking, savings and deposit products that can be opened only on the Monimo app.

The 'Monimo Woori Daily Interest Account', designated as an innovative financial service by the Financial Services Commission, offers up to 4.0 percent a year on balances up to 3 million won. Customers who link automatic transfers for Samsung Life Insurance, Samsung Fire & Marine Insurance or Samsung Card can also receive Monimo coupons called 'Jelly' that can be exchanged for Monimoney.

The 'Monimo Woori Starlight Savings', launched alongside it, allows deposits of up to 200,000 won per week and offers up to 8.5 percent a year. The 'Monimo Woori Galaxy Deposit' applies an interest rate of up to 4.0 percent a year with a limit of 10 million won.

The bank is also running a launch event. It will provide Monimoney worth up to 20,000 won if customers meet conditions such as signing up for the three products and depositing at least 1 million won into the daily interest account.

Jeong Ui-cheol (정의철), head of Woori Bank's Digital Sales Group, said, "This product is the first package-type partnership product in the banking sector to be offered on the Monimo app." He said it combined Woori Bank's banking-as-a-service capabilities and Samsung Financial Networks' platform competitiveness. "We will continue to provide differentiated benefits and services," he said.