Kakao, the operator of Korea s top mobile messenger, has appointed Jung Gue-don, scandal-ridden former chief technology officer (CTO) of its financial affiliate, KakaoBank, as its new CTO, industry sources said Tuesday.
KakaoBank posted a record-high annual net profit last year, thanks mainly to the digital bank s continued success in attracting new customers, which in turn led to stable increases in both loans and deposits.
Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, today announced that KakaoBank, a leading mobile bank in Korea, has established an artificial intelligence (AI) lab at Digital Realty's ICN10 data center in Seoul. This strategic investment, leveraging Digital Realty's data center infrastructure and expertise, will empower KakaoBank to accelerate its AI-powered service enhancements, develop personalized con
It has been almost seven years since internet-only banks began operations in Korea. Since then, the three internet-only banks have expanded their presence by leveraging distinguished services and competitive interest rates, surpassing a total of 40 million customers.
Internet-only banks have logged substantial growth in the number of mortgages offered to borrowers, seeing their collective balance increase year-on-year by more than 70 percent during the past year, far surpassing the country s four major lenders increase rate that stood at 3 percent last year.