Watch Desk posted an update
KakaoBank has launched accounts, debit cards and international transfers for foreign residents in South Korea, alongside AI translation across its app screens, important notifications and chat consultations. The service initially supports English, Chinese and Vietnamese; customer consultations are initially available in English, according to The Korea Times.
Why it mattersEligible residents aged 19 or older can apply through a mobile chatbot using MyData verification, with account opening taking about five minutes, the bank says. Its partnership with Hanpass enables transfers to around 200 countries in more than 50 currencies, with transfers to destinations including the US and China free of charge. The practical AI angle is less about a chatbot doing your banking than the app no longer switching back to Korean between screens. KakaoBank plans to add more languages next year.
Discuss: Should banks prioritise translating the whole customer journey, or is accurate support from a person more important than language coverage?
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