IBK Industrial Bank Introduces 'Corporate Public MyData' for Corporate Deposits

IBK Industrial Bank announced on October 20 that it will implement the Ministry of the Interior and Safety's 'Corporate Public MyData' service for its corporate deposit operations.

Corporate Public MyData is a service that electronically transmits corporate information held by administrative and public institutions to the necessary entities upon request from corporate clients.

Previously, Public MyData was primarily used for individual and sole proprietorship financial services. In January, IBK became the first in the financial sector to introduce this service for corporate lending, and it has now expanded its application to deposit operations.

Corporate clients of IBK can request the provision of Corporate Public MyData through bank branches or online banking. The bank will electronically receive eight types of corporate information, including business registration certificates and standard financial statements, from the National Tax Service and the Ministry of SMEs and Startups to utilize across its deposit operations.

IBK is expanding the scope of this service to facilitate the digital transformation of financial operations and simplify document submissions. Plans are in place to extend this service to corporate cards by the end of the year and to introduce it to non-face-to-face financial products in corporate banking in the future.

An IBK official stated, "We will continue to expand digital-based corporate financial services to make it easier for our clients to conduct their financial operations."