By Kim Jae-won
Staff Reporter
Smartphone banking has been gaining popularity here, with local lenders churning out a number of new services based on the new gadgets loaded with various applications, which has changed the business culture in the banking industry.
Since Apple launched the iPhone service here in November, smartphone banking users are increasing dramatically, forcing lenders to develop new products to deal with such demand.
The Industrial Bank of Korea (IBK) is leading the trend. The state-run lender has been providing various services for iPhone customers, such as phone banking, foreign currency rates and event information since January. The lender plans to extend its services to other products, such as Omnia and Motoroi.
So far, 93,500 users have downloaded the bank's application, and among them 15,400 users registered for the services.
Office worker Kim, who identified herself only by her family name, is one. She downloaded an application from IBK recently and said she uses the service quite often.
"It is useful. I check the currency exchange service because my husband gets paid in British pounds,’’ Kim, in her 20s, said. "It is convenient. I can check it anytime and everywhere, I usually use the service while taking subway.’’
The Gwacheon, Gyeonggi Province resident said that she hopes the service will be expanded to other lenders.
"My main bank is Kookmin Bank (KB), so I hope they will also provide such a service,’’ she added.
Kim may get her wish soon. KB is preparing financial plans for smartphone users, and will launch them in a month.
"We have been preparing the service, and will start it from late March or early April,’’ said Kim Ki-yeop, head of public relations team of the lender.
Shinhan Bank also kicked off such packages from earlier this month. So far, 70,000 users have downloaded the application, and about 17,000 users are enjoying the service a day.
Shinhan’s services are available for all smartphones, such as the iPhone, Omnia and Motoroi. The lender provides plans for recommended products, tips for asset management, interest rates, foreign currency rates and gold prices.
Hana Bank has also provided a financial scheme titled "Hana N Bank’’ from December for smartphone users. So far 58,000 people have downloaded the application. The lender also is running a financial statement service called "N Money,’’ which 84,100 people have downloaded.
Analysts said that people have different sentiments about the new technology compared to existing mobile banking.
"Customers say that it is different from mobile banking. They say that it is easy to check all the information at one-stop and convenient to find information,’’ Heo Jae-young, senior manager at IBK, said.
Others said that the fact that the service was free also contributed to such a dramatic increase in numbers of users.
"Mobile banking charges about 1,000 won per month, but the smartphone service does not carry a fee. That also attracts customers,’’ a local bank representative said.