Standard Chartered Bank Korea has partnered with Israeli fintech PayKey to launch the first mobile keyboard solution featuring open banking.
The two companies aim to use the solution to integrate financial services into customers’ daily mobile interactions.
Through the keyboard, customers will be able to manage all of their bank accounts in any mobile app, including KakaoTalk, WhatsApp, Naver, among others.
Joseph Hyung Ki Cho, head of digital and personal banking at Standard Chartered Bank Korea, said: “Over the past year, the Standard Chartered Bank Korea digital team has worked tirelessly in creating an all new mobile banking experience with new technology.
“The new keyboard banking solution is an example of how an institution can create a superior bank-branded mobile experience within some of the most popular and often-used smartphone apps.”
The platform will allow customers to access account balances and transact from multiple checking accounts of different Korean banks, all from the keyboard’s interface.
According to Standard Chartered, the solution may extend access to investment accounts, trading apps, and non-banking financial services in the future.
New era of banking
The announcement comes as recent regulatory changes have emerged in South Korea, comparable to the EU’s PSD2. Sheila Kagan, PayKey’s CEO, argued that this new era of banking has caused customers to want more personalised services.
She said: “The launch of Standard Chartered’s new keyboard solution marks a significant leap forward in delivering an embedded banking experience that puts the customer’s preferences at the core.
“Nowadays banks must weave their services into customers’ digital lives, and provide the financial services customers need when and where it’s most convenient for them.
“We are thrilled to see that Standard Chartered is pioneering a new banking experience, and are honoured to bridge the gap between Standard Chartered’s impressive portfolio of banking services and their customers’ digital lives.”