IBK Industrial Bank of Korea has entered competition in group account services by launching its "IBK Group Service" to help manage funds for families, clubs and other groups more transparently and conveniently.
The bank said on Tuesday it introduced the "IBK Group Service" on the i-ONE Bank (personal) app, allowing users to link an existing account or open a new group account.
When a group leader sets up a group, members can join via a mobile website without installing a separate application, improving access and ease of use.
Key features include real-time sharing of group account transaction history, detailed reports that show how dues are used, inquiries on dues payment status and requests for unpaid dues, and management of dues rules.
To improve continuity in group operations, the service supports changes of the group leader and the group account, and allows different dues rules to be set for each member. The bank also introduced a dedicated "IBK Group Check Card".
An IBK official said, "We plan to continue expanding comprehensive financial services that connect customers' everyday activities with finance, focusing on non-face-to-face channels."
Ji-young Lee
ljy@d-today.co.kr