KB Kookmin Bank said on Thursday it has expanded eligibility for its MyData service by lowering the minimum sign-up age to 14 from 19.
The move reflects legal revisions made under the Financial Services Commission's 추진 tasks for "MyData 2.0."
The bank will apply guidelines to prevent excessive use of teenagers' financial information. It will collect and provide only necessary data on a limited basis. As a result, the service will reflect only some asset information, including bank and card data.
KB Kookmin Bank also created a teen-only "Spending Home" page in its KB Star Banking app in line with the expansion. The feature lets users view MyData-based spending records at a glance and manage allowances through weekly statistics.
It also plans to add customised spending management functions later.
A KB Kookmin Bank official said the bank prepared the service so teenagers can experience finance in a safe environment and develop healthy spending habits. The official added it plans to raise financial access and convenience by expanding inclusive finance.
Ji-young Lee (이지영)
ljy@d-today.co.kr