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Top fintech stories this week – 4 August 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Kakao Bank attracts 820,000+ clients in four days since launch

800,000+ customers in four days

Kakao Bank, one of South Korea’s first digital only banks, says it has attracted KRW 535 billion ($477 million) worth of business in deposits and loans in just four days since its launch.

Two digital-only banks set to launch in South Korea


South Korea’s banking sector is getting a shake up with two digital-only banks applying for regulatory approval in the second half of this year. According to Financial Services Commission (FSC) chairman Yim Jong-yong; K Bank, led by KT Corporation (formerly Korea Telecom), and Kakao Bank, led by internet company Kakao; plan to apply for approval […]