KakaoBank said on Jan. 26 that cumulative users of its deposit products linking parents and children, the 'Our Child Account' and 'Our Child Savings', exceeded 500,000 four months after launch.

Users hit 100,000 in the first month after launch and 300,000 in three months. They surpassed 500,000 in four months. Growth in the most recent month was steeper than in the first month after launch.

Among parent customers who opened the accounts, 47 percent were in their 30s or younger, 48 percent were in their 40s and 5 percent were 50 or older. A survey found 7 out of 10 customers had mothers managing the children's accounts. Child customers were evenly spread from infants and toddlers to elementary and middle school students.

A key driver of popularity was cited as a feature that lets both parents manage the account at the same time. For example, if a father opens an Our Child Account and sends an invitation link to the mother, each parent can manage the child's account on their own phone. If the child has a phone in their own name, the child can directly check account details.

KakaoBank also said customer satisfaction was boosted by the ability to open the account easily through its conversational interface chatbot without submitting complicated documents.

KakaoBank said, "As positive reviews and word of mouth continue, we are seeing faster growth than in the early stage after launch." It added, "We will continue to expand financial services linking parents and children to strengthen customer convenience and benefits."