A big change is coming to South Korea's banking industry.
Hot on the heels of the launch of Korea Telecom's internet K Bank, another online-only bank is about to be launched by Kakao Talk, the country's biggest messenger app.
Both banks allow customers to bank just from their smartphones, from opening accounts to applying for loans.
The digital-only banks won't have any actual bank branches, but of course users can stop at real-world ATMs to get cash.
K Bank, which launched this week, saw over 60,000 sign-ups in the first two days of operation alone, reports Yonhap. It's backed by a group that includes Alibaba's Ant Financial. Read more...
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