Number of open banking users South Korea 2020-2023

Published by L. Yoon, May 7, 2024
As of December 2024, the number of registered users of open banking services in South Korea had reached approximately 203 million, including those with multiple accounts. This number has grown rapidly since the service was launched in December 2019.

Number of registered open banking users in South Korea from December 2020 to December 2023 (in millions)

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Release date

February 2024

Region

South Korea

Survey time period

December 2020 to December 2023

Supplementary notes

Users with more than one account were included.

Open banking refers to a banking system that allows customers to access financial services from multiple banks through a single smartphone application.

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