Viva Republica, operator of Toss, said on Thursday that a delegation made up of officials from the Philippines central bank and the World Bank visited Toss on April 22 to review its digital financial services operations.

The visit was part of an invitation training programme on payment and settlement systems hosted by the Korea Financial Telecommunications and Clearings Institute. The delegation selected Toss among domestic fintech companies and reviewed South Korea's payment and settlement system and digital finance cases.

The delegation heard an explanation of Toss' service structure and operating methods and checked how platform-based financial services are implemented in practice. It showed strong interest in the one-app structure that integrates payment, remittance and banking functions, and in the user-oriented design approach.

Toss introduced its super app-based financial service operating structure, along with risk management methods such as a transaction monitoring system and an AI-based fraud detection system model. Toss provides financial services such as payments, remittances and investments on a single platform based on about 30 million cumulative sign-ups.

The session also included questions and answers on the policy environment and risk management methods during the spread of digital finance. Toss also introduced its consumer protection system, including real-time monitoring based on its fraud detection system, a three-step verification process for remittances and a compensation policy when financial fraud damage occurs.

A delegation official said, "We were able to see how platform-based financial services are implemented in a real-world environment." The official added, "It was impressive that user experience and the risk management system were considered together." The official also said, "This kind of operating method could be a reference in reviewing the introduction of digital finance."

A Toss official said, "This was an opportunity to share an operating method in which platform-based financial services secure stability and convenience at the same time." The official added, "We expect related experience and technology can be used in overseas policy environments as well."