KB Savings Bank Launches Mobile App 'Kiwi Bank'

KB Savings Bank Mobile Application Kiwi Bank

[Asia Economy Reporter Minyoung Kim] KB Savings Bank announced on the 13th that it has launched its own mobile financial platform application (app) called ‘Kiwi Bank’.

Kiwi Bank aims to be a friendly mobile bank that ‘grows’ (키) and ‘supports’ (위) customers’ assets. According to a company official, it has improved usage speed and enhanced mobile accessibility compared to the existing app ‘KB Good Banking,’ thereby increasing user convenience and consumer choice.

Kiwi Bank offers all financial services 24/7, anytime and anywhere, including non-face-to-face account opening, transfers, savings and deposit subscriptions, as well as loan applications and disbursements. This is the result of being the first in the industry to jointly apply with the Korea Federation of Savings Banks for approval of the Ministry of the Interior and Safety’s ‘Non-face-to-face ID Verification Service.’

Additionally, it is the first in the industry to allow product subscriptions without installing a separate app. Users can conveniently access it through the Kiwi Bank mobile web or affiliated channel product subscription pages.

Login methods have also been simplified. By adding the Face ID feature, iPhone users can easily log in using facial recognition only. Also, users can log in using patterns, fingerprints, etc., through the ‘KB Mobile Certificate’ used in KB Kookmin Bank’s app, KB Star Banking. Login via simple passwords and voice authentication is also available.

Unique services targeting young financial consumers in their 20s to 40s stand out. The ‘Shake it’ service allows users to instantly jump to a pre-designated menu by shaking their mobile device. Applied to frequently used menus such as transfers and inquiries, users can immediately move to the desired menu simply by shaking their smartphone while logged in.

The ‘Dutch Pay’ function has also been added, and the ‘Group Account’ service has been significantly improved to match recent trends, offering up to 1.5% annual interest.

Shin Hongseop, CEO of KB Savings Bank, said, “The newly launched Kiwi Bank is a mobile-optimized financial platform without spatial restrictions, available 24 hours a day, 365 days a year.” He added, “As the name Kiwi Bank implies, which ‘grows’ assets and ‘supports’ customers, we will create various products and services that are easy and simple for everyone to use, rather than financial services that feel inconvenient, complicated, and distant.”