{
  "id": 13890332,
  "title": "Less paperwork, AI-powered banking: KakaoBank joins race for foreign customers",
  "url": "https://urgent.news/2026/10/12/less-paperwork-ai-powered-banking-kakaobank-joins-race-for-foreign",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T06:27:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/business/banking-finance/20261012/less-paperwork-ai-powered-banking-kakaobank-joins-race-for-foreign-customers"
  },
  "original_language": "en",
  "account": "KakaoBank has introduced a suite of financial services tailored for international residents living in Korea. This move marks the bank's entry into the competition to win over the expanding pool of foreign customers in the country. The new package from the internet-based bank includes traditional checking accounts, debit cards, and the ability to send money abroad. It also features a standout feature: artificial intelligence (AI) technology that enables multilingual customer support.\n\nKakaoBank's head of the Foreign Customer Camp, Bae Jung-ho, highlighted during a press conference in Seoul how banking has become more convenient for domestic customers, yet foreign residents still face certain inconveniences. These challenges include the past experience of needing to visit physical bank branches to open an account. Bae noted that by providing international residents with the same application that their 28 million domestic customers use, KakaoBank managed to roll out over 50 services simultaneously.\n\nKakaoBank's Foreign Resident Account is open to individuals aged 19 and above who possess a valid form of identification and a registered mobile phone. The application process can be completed in just five minutes via a mobile chatbot, as offered by the bank.",
  "summary": "KakaoBank on Monday launched a range of financial services for international residents in Korea, joining local lenders in the race to attract customers from the country's growing foreign population. The new offering from the internet-only lender includes checking accounts, debit cards, overseas remittances and artificial intelligence (AI)-powered multilingual support. \"Even though banking has…",
  "key_points": [
    "KakaoBank launches AI-powered banking services for foreign residents in Korea",
    "Features include AI-driven multilingual customer support and traditional banking services",
    "Application process completed in five minutes via mobile chatbot"
  ],
  "editors_take": "By integrating multilingual AI and mobile-first applications, KakaoBank is removing the physical barriers that traditionally prevented international residents from accessing the same seamless digital banking experience as domestic users.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "Less paperwork, AI-powered banking: KakaoBank joins race for foreign customers",
        "url": "https://urgent.news/2026/10/12/less-paperwork-ai-powered-banking-kakaobank-joins-race-for-foreign-13893521",
        "published": "2026-10-12T06:42:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}