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New entrants and increased competition brought about by challenger banks could result in revenue losses of up to 30 percent among legacy banks over the next 10 years. While digitalization can lower costs for incumbent banks by 30 to 50 percent, new…
Naver said Monday that it has no plans to launch an internet-only bank, shutting down rumors that the IT giant might open the country’s third such bank after K bank and Kakao Bank. “Although we have reviewed [joining] the internet-only bank business, we…
The country’s Financial Services Commission said Sunday it awarded a preliminary license to Kakao for a business to be named Kakao Bank. “An Internet bank is meant to give non-financial players, including IT firms, chances to enter the banking sector if they…
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