South Korea's first online-only bank, K bank, has expanded into insurance by selling bancassurance products. The bank has released 20 savings and protection policies through a mobile app, including products from four domestic life insurance firms and four non-life insurers. The service offers customers round-the-clock consultations through phone calls, mobile messaging and email. K bank, Kakao Bank strives to expand, stimulate banking industryBy Nam Hyun-wooK bank, Korea's first online-only bank, started selling bancassurance products Monday, expanding its around-the-clock accessibility to another business. In the U.S., online banking is becoming more popular as well.
South Korea's first online-only bank, K bank, has expanded into insurance by selling bancassurance products. The bank has released 20 savings and protection policies through a mobile app, including products from four domestic life insurance firms and four non-life insurers. The service offers customers round-the-clock consultations through phone calls, mobile messaging and email. In the U.S., online banking is becoming more popular as well.