Major banks and other financial companies are rolling out AI-based services one after another. The industry is watching what moves come next and whether the services can deliver effects that consumers can feel.

Shinhan Bank launched an AI screening service for purchasing export bills of exchange that applies an OpenAI GPT model. The service was introduced after it was designated an innovative financial service by the Financial Services Commission in April 2025 and completed a security review by the Financial Security Institute in November. It is the first case in South Korea to apply a generative AI model in earnest to international trade finance screening work.

Shinhan Bank starts the financial sector's first OpenAI GPT-based export document screening service.

KakaoBank will launch KakaoBank AI, integrating all conversational AI services. It will provide in a single chat window AI services that were previously operated separately, including AI search, an AI financial calculator, AI transfers and a counselling chatbot. KakaoBank's Financial Technology Research Institute also presented research results at the recently held CIKM 2025 and ICAIF 2025 on an acceleration methodology for explainable AI (XAI) computation and on building a finance-specialised Korean-language information retrieval benchmark dataset.

Toss Bank was designated for 4 innovative financial services that can apply generative AI to banking and finance. They include code review, marketing and legal review, management and financial analysis, and text-to-SQL.

KakaoBank to launch integrated AI service KakaoBank AI. KakaoBank has consecutive papers accepted at a global AI academic conference. Toss Bank designated for 4 innovative financial services to introduce generative AI.

NH Nonghyup Bank fully upgraded NH Hanaro Branch, an integrated cash management platform for corporate customers, significantly expanding generative AI-based functions and newly adding a one-stop sign-up function for financial products such as deposits and funds.

NH Nonghyup Bank fully upgrades Hanaro Branch, expanding generative AI functions.

Shinhan Securities launched its AI Credit Provision Guardian service. The service is designed for AI to learn key risk assessment criteria that Shinhan Securities has used in its actual credit provision management process, including period returns, volatility, sector and market capitalisation.

Shinhan Securities launches its AI Credit Provision Guardian service.

The Export-Import Bank of Korea built a cooperation system with key companies related to the government's AI transformation policy. It plans to invest 20 trillion won over the next 5 years to actively support South Korean AI companies' expansion into global markets.

Export-Import Bank to invest 20 trillion won in AI over 5 years, signing support agreements with 3 companies including LS Electric.

Overseas, the buy now, pay later (BNPL) market is also growing during the year-end shopping season, allowing consumers to pay in instalments. According to Adobe Analytics, U.S. BNPL payments totalled $10.1 billion from Nov. 1 to Dec. 1. That was up 9 percent from a year earlier and the highest figure Adobe has measured for that period. Over the same period, overall year-end consumer spending rose 7.1 percent. Adobe forecast BNPL payments in November and December would be about $20.2 billion, up 11 percent from a year earlier.

U.S. year-end BNPL transaction value hits record high; Adobe forecasts 11 percent increase.

The U.S. retail industry is also increasingly relying on BNPL payment options amid high interest rates and concerns over weakening consumption. The average order value for merchants that adopted PayPal BNPL rose 91 percent, it said.

U.S. retail industry grows more dependent on BNPL.

Competition among companies is also spreading. Major services such as Afterpay, Affirm, Klarna, Zip, Splitit and Sezzle, as well as PayPal, are leading the market, and major card companies are also expanding similar options.

Other key moves in the finance and fintech industry are summarised below.

KB Kookmin Bank and NH Nonghyup Bank each launched a preferential savings product for employees at small and medium-sized enterprises. Eligible subscribers are SME workers whose eligibility has been verified by the Korea SMEs and Startups Agency.

KB Kookmin Bank launches KB Preferential Savings for SME Employees. NH Nonghyup Bank launches NH Preferential Savings for SME Employees.

KB Kookmin Bank will expand the overseas remittance service of KB Star Banking's KB Quick Send from foreign residents to South Korean nationals. The expansion aligns with a government overhaul of the no-documentation overseas remittance limit system taking effect on Jan. 1, allowing South Korean residents to use the service for up to $5,000 per transaction.

KB Kookmin Bank expands overseas remittance service to South Korean nationals.

Woori Financial Group built a partnership with SGI Seoul Guarantee Insurance to introduce and operate the Thank You Token platform. Thank You Token is Woori Financial's in-house communication platform developed to let members freely exchange messages of gratitude, praise and encouragement. New subscribers to Woori Bank's Samsung Wallet Money and Points service, launched in partnership with Samsung Electronics, surpassed 1 million.

Woori Financial supports SGI Seoul Guarantee Insurance in spreading communication culture with Thank You Token. Woori Bank's Samsung Wallet Money and Points subscribers surpass 1 million.

KakaoBank will accelerate cooperation with Superbank, an Indonesian digital bank and its first equity investment target. KakaoBank provided consulting to Superbank for launching new financial products. Toss Bank's Mokdon Gullyeogi service recorded cumulative linked sales of 22 trillion won in the 3 years since its launch.

KakaoBank expands cooperation with Indonesia's Superbank, stepping up global expansion. Toss Bank's Mokdon Gullyeogi tops 22 trillion won in cumulative linked sales.

Banks are also busy trying to attract foreign customers. That is because the foreign population, including international students, workers and long-term residents, is steadily increasing and financial demand is expanding quickly. Banks are rolling out so-called lifestyle-oriented services that combine financial access with daily convenience, targeting foreigners.

From financial access to daily convenience, banks go all-out to attract foreign customers.

Stronger household debt management by financial authorities and banks' responses to total loan caps have curbed lending, but both banks and consumers are feeling the strain. Banks face worsening profitability and heavier regulatory burdens, and consumers are having difficulty raising funds they actually need, the article said.

Household loans fell, but both banks and consumers feel the strain. Banks' household loans rise 1.9 trillion won in November, with slower growth.

A revised banking law that limits the inclusion of legal costs in bank lending rates passed the National Assembly plenary session. It will in principle prohibit adding various legal costs to additional rate components in the process of calculating bank lending rates.

Revised banking law banning inclusion of legal costs in bank loan rates passes parliament.

KB Asset Management will launch the RISE Donghak Ant ETF, a strategic exchange-traded fund that combines individual investor flows and price momentum. It is the first domestic ETF to directly use the term Donghak Ant in its product name. Korea Investment & Securities, a unit of Korea Financial Group, said its Indonesian unit PT Korea Investment And Sekuritas Indonesia (KISI) issued sustainability-linked bonds locally on the 11th. Hanwha Investment & Securities signed a memorandum of understanding with digital wallet platform company Kresus to build digital asset infrastructure. Kakao Pay Securities will work with U.S. financial group Siebert Financial Group to provide South Korean investors with market analysis content from U.S.-based experts.

KB Asset Management debuts RISE Donghak Ant ETF, a domestic first. Korea Investment & Securities' Indonesian unit lists sustainability-linked bonds on a local exchange. Hanwha Investment & Securities cooperates with U.S. Kresus to build digital asset infrastructure. Kakao Pay Securities partners with U.S. Siebert on market analysis content.

Naver Pay will work with Jeju Special Self-Governing Province to expand Jeju's digital tourism certificate, Nowda, and to build a digital tourism ecosystem. Naver Pay also signed a business agreement with the Korea Financial Telecommunications and Clearings Institute for a recurring payment service to promote the subscription economy. Viva Republica, the operator of Toss, will launch Toss Alba, a job search and recruitment brokerage service. Toss Alba lets users browse job postings and apply within the Toss app.

Naver Pay cooperates with Jeju on a digital tourism ecosystem. Naver Pay signs agreement with the Korea Financial Telecommunications and Clearings Institute on a recurring payment service to promote the subscription economy. Toss launches Toss Alba job brokerage service.

Regulations related to payment gateway (PG) companies also appear to be spreading. Authorities have forecast a series of applications of the Electronic Financial Transactions Act and the Credit Business Act. The measures are meant to update regulations as the electronic finance market expands, but the burden on PG companies is rising sharply, making changes across next year's ecosystem appear inevitable.

Regulations pour into the PG market, with major ecosystem changes forecast next year.