IBK Industrial Bank-Daou Technology Launch BaaS-Based 'One-Stop Service'

Integration of Financial APIs with Non-Financial Platforms

IBK Industrial Bank announced on the 23rd that it will launch a BaaS (Banking as a Service)-based service on Dowoo Technology's all-in-one work platform, Dowoo Office.

In March last year, IBK Industrial Bank signed a strategic business agreement (MOU) with Dowoo Technology to support digital management services for small and medium-sized enterprises. Through linking IBK's financial APIs with Dowoo Office, they have been promoting a one-stop financial service that allows customers to handle financial tasks within Dowoo Office.

With the launch of this service, customers who consent to information provision through IBK Industrial Bank's corporate internet banking can check their accounts and exchange rates in real time within Dowoo Office's accounting service.

Additionally, by switching from the existing scraping method to financial APIs, customers can use the real-time inquiry service free of charge within Dowoo Office without any additional cost.

An IBK Industrial Bank official said, "This service is significant as IBK's BaaS service that helps the digital transformation of small and medium-sized enterprises," adding, "We will do our best to expand BaaS so that IBK customers can enjoy convenient financial life even on non-bank platforms."