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Korean banks to test run 'open banking' system Updated: 2019-10-29 16:53:45 KST

Starting tomorrow, people in South Korea will be able to manage multiple bank accounts through a single app.
The Financial Services Commission says the country's banks are starting a test run of what's called the "open banking system."
It enables users to transfer money and check balances without having to open up several apps, and it offers lower commissions.
It'll first be joined by 10 banks, including Nonghyup, Shinhan and Kookmin,with eight others to join later.
KOGL : Korea Open Government License
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