Yoon Ja-young is in charge of articles translated by a generative AI system and edited by The Korea Times. She is interested in improving the newspaper through AI.
IBK awarded for best banking app
Industrial Bank of Korea (IBK) headquarters in Seoul / Courtesy of IBK
By Yoon Ja-young
The banking app of the Industrial Bank of Korea (IBK) was awarded as the best financial mobile app at a global fintech event, the bank announced Thursday.
According to IBK, its app i-ONE Bank won in the category of the Best Financial Mobile App at the 2024 Finovate Awards held in New York, Tuesday.
The Finovate Awards are a prestigious global fintech competition where financial institutions and fintech companies from around the world demonstrate and exhibit the latest technologies and products in the field of fintech.
It has been awarding companies that have achieved outstanding results in around 20 categories each year.
The honor is particularly significant for IBK this year as it became the first Korean bank to win in the mobile banking category, beating strong finalists such as BNP Paribas, JP Morgan AWM, Finom, Payactiv and Quicken.
IBK's app was highly evaluated for continuously improving its functions, design, security and usability ever since launching in May 2019. The bank also expanded services using fintech technologies such as open banking and MyData, creating an excellent customer experience.
“The management strategy of our CEO Kim Sung-tae, who has stressed digital competitiveness, is internationally recognized,” an official at the bank said. “We will continue to reflect the feedback of the customers.”