IBK President Yoon Jong-won was appointed as the co-chair of the recently established OECD Platform on Financing SMEs for Sustainability.
The platform promotes the exchange of national and financial institution experience in addressing demand- and supply-side barriers to SME sustainable finance, including specific financing instruments and national roadmaps to reach carbon neutrality by 2050.
The platform aims to establish a sustainable mid-term financial model that induces SMEs’ green transition through joint research between the OECD, UK, Canadian SME finance banks in those countries and the IBK.
A U.K. government official recommended by the British Business Bank (BBB) will serve as the first chairperson.
IBK President Yoon will serve as the co-chairman together with an official from the Business Development Bank (BDC) of Canada while participating in major decisions, and the establishment of a platform operating system.
Research results will be shared through conferences, steering committee meetings and seminars. The first Steering Committee meeting will be held on April 21.
In this regard, at the OECD non-face-to-face forum held on the topic of green finance for SMEs in November last year, President Yoon participated as a representative of Asian banks and emphasized the importance of international cooperation and finance for SMEs’ green transition.
He also discussed the establishment of a platform for knowledge sharing and green transformation by visiting the OECD.
The IBK established the ESG Consulting Team at the beginning of this year to support SMEs’ green transition, and also launched a sustainable linked loan (SLL) for the first time in the financial sector.
The SLL service provides incentives for companies which attained their carbon-neutral goals.
The IBK is planning to establish a carbon-neutral roadmap for financial assets, and use it as a standard on a green transition for SMEs. At the same time, the bank will expand green finance such as customized support for SMEs according to progress in their green transitions.
Safe Care Service for Smart Banking
The IBK announced on Feb. 27 that it has launched the Safe Care Service, a customer-tailored security service that can prevent electronic financial fraud during smart banking transactions.
The Safe Care Service consists of time-safe, location-safe, and account-safe services. An on/off function improves accessibility so that IBK customers can turn on or off the service at any time they want.
In particular, the location security service is the first service in the banking sector that allow a login only in a safe area set by a user by using the GPS function in a smartphone. Smartphone location information is applied to financial security.
In addition, if you set a time limit through the time-safe service, you can block access to your bank account at a specified time.
You can set up a secure account with the account-safe service to limit account inquiries and money transfers in a non-face-to-face manner.
You can sign up for the Safe Care Service by selecting security services which you need in IBK smart banking application i-ONE Bank app.
“An increase in the proportion of smartphone use is fueling deceptive electronic financial frauds, thereby triggering big damage to customers,” an IBK official said.
“We will spare no efforts in providing security services that befit the characteristics of customers.”
Non-Face-to-Face Subscription to Retirement Pension Service
The IBK will provide a non-face-to-face new subscription service for the corporate retirement pension system (the DB and DC types) from March 6.
When companies newly subscribed to a corporate retirement pension system (the DB and DC types), it was cumbersome to submit employees’ consent forms in writing. But the new service will allow employees to submit them via smartphones.
When a company submits information about employees for retirement pension subscription to the IBK, its branches can receive digital consent forms from the employees by sending Kakao Talk messages to their smartphones.
In the case of the DC type, workers can select pension products after completing self-authentication on mobile devices and selecting operating products without having to visit IBK branches.
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