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Biz News Korea(Eng)

Hana to launch mobile-only banking service together with SK Telecom

Collected: 2017.08.26

Distributed: 2017.08.29

Source: Go Direct

South Korea’s Hana Financial Group Inc. has teamed up with top wireless carrier SK Telecom Co. to launch a mobile banking platform that can be as consumer-alluring as the around-the-clock online-only players Kakao Bank and K-Bank.

According to the financial industry on Friday, the two companies formed a joint-venture cyber entity called Finnq where Hana invested 51 percent and SK 49 percent. The app service will be launched on Sept. 4.

Their competitive edge against the online banks that offer around-the-clock service and more favorable rates than the banks with brick-and-mortar presence is its robotic analytic service that will advise consumers on wiser credit spending, the companies said.

With the app, service with Hana Bank and other financial units will become simpler. Money transfer also will become possible.

By Chung Ji-sung

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