KB Star Banking App Ranks 1st in 'Mobile Conversion Rate' Among 15 Banks

KB Kookmin Bank's banking application 'KB Star Banking' has been ranked first in 'mobile conversion rate' among 15 banks.

As stock-linked securities (ELS) based on the Hong Kong H-Index are expected to incur losses amounting to trillions of won in the first half of this year alone, financial authorities have begun on-site inspections targeting major sellers. Photo taken on the 8th at KB Kookmin Bank, Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@

According to KB Kookmin Bank on the 31st, Consumer Insight, a market research firm, conducted a financial platform planning survey last month targeting 2,075 adults aged 20 to 69 nationwide. The survey found that 62.3% of respondents reported transacting with KB Kookmin Bank. This showed the highest transaction rate, with a gap of more than 10 percentage points compared to the second-ranked bank.

Additionally, KB Kookmin Bank achieved first place with a mobile conversion rate of 58.4%, far exceeding the banking sector average of 38.9%. The mobile conversion rate refers to the proportion of customers who regularly or essentially use the bank’s financial app among the bank’s transaction customers.

Furthermore, KB Star Banking rose one rank compared to the previous month in the confirmed customer ratio, which is the proportion of customers who regularly or essentially use each financial app, ranking second among all financial apps including internet banks. The 'confirmed customer ratio' is a perceptual indicator reflecting the behavioral characteristics of financial consumers, signifying the customers’ continuous intention to use the service.

A KB Kookmin Bank official stated, “Going forward, as the hub platform of KB Financial Group, we will continue to expand various financial and non-financial services within KB Star Banking to provide convenience and a satisfying experience to financial consumers.”