It was found that representative retail (retail banking) services such as money transfer, inquiry and loan were used through digital channels such as internet banking and mobile banking rather than through bank counters.
According to data published by the Bank of Korea on the 5th,’Internet banking service use by domestic banks in 2020′, the share of deposit/withdrawal and money transfer services through internet banking including mobile banking in 2020 was 65.8%, compared to 58.2% in 2019, 7.6. %p increased, and the percentage of inquiry service usage was a whopping 93.0%, an increase of 2.7%p from 90.3% in 2019.
The percentage of using direct bank branches to transfer funds was 7.3% in 2020, down 0.9%p from 8.2% in 2019. The percentage of using the counter inquiry service also reached only 4.7% in 2020, down 1.7%p from 6.4% in 2019.
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In particular, loan application services through digital channels of banks also tended to expand. Last year, the number of loan application services through internet banking was 21,000, up 39.4% (6,000) compared to 15,000 in 2019. The amount used was also 484.2 billion won in 2020, an increase of 151.5% (291.7 billion won) from 199.5 billion won in 2019.
Last year, the average daily use of mobile banking, including Internet banking, was 133.3 million and the amount used was 58.7 trillion won, up 18.8% and 45.2%, respectively, compared to the previous year. Among them, mobile banking accounts for 77.5% of the average daily usage, 1330,000, and 9 trillion won, accounting for 15.4%. The average daily usage and amount of mobile banking increased by 77.5% and 15.4%, respectively, compared to the previous year.