Toss Bank won the Digital Finance Grand Prize after being recognised for its achievements in advancing mobile-based financial experiences. It was cited for improving convenience and access in financial services and for stepping up safety measures, in what was described as recognition as a digital finance innovation company.

Toss Bank said on June 26 it received the Digital Finance Grand Prize at the seventh Digital Finance Forum held on June 25 at Grand Josun Busan in Haeundae district, Busan.

The Digital Finance Forum is hosted by the Korea Information Systems Society and the Korea Intelligent Information Systems Society.

Toss Bank was recognised for reducing inconvenience in the financial-use process from a customer perspective and for expanding easy and safe mobile-based financial experiences.

Since its launch, Toss Bank has expanded mobile-focused banking services. Examples include "Receive interest now", foreign currency accounts and "Together Loans", a collaboration model between an internet-only bank and a regional bank.

It is also expanding the range of services. As balancing customer convenience and safety becomes more important in non-face-to-face financial services, it is also strengthening measures to inform customers of and prevent suspicious transactions and the risk of financial fraud.

A Toss Bank official said, "This is the result of recognition of Toss Bank’s efforts to solve financial inconvenience from a customer perspective and create an easier and safer digital finance experience." The official added, "We will create a new standard for digital finance that customers can feel in their daily lives."