Banksalad outruns Toss in MyData business
Posted : 2020-12-23 16:03
By Park Jae-hyuk
Rainist, the operator of personal finance managing app Banksalad, is threatening the dominance of Viva Republica, operator of the mobile money transfer payment app Toss, in the nation s fintech market, after winning preliminary approval for a MyData license first.
The two fintech firms were among the 29 financial services companies that had applied for the license which enables them to receive their customers credit information from conventional financial firms, so that customers can access all their financial information in one place.
The Financial Services Commission (FSC) postponed giving a preliminary approval to Viva Republica, Tuesday, asking the company to submit documents necessary for the regulator to screen the eligibility of its major shareholders. If the fintech firm fails to get approval for the license, it will no longer be able to provide most of its current services from Augus