Kakao Bank Launches AI Transfer Service in South Korea

SEOUL, South Korea — Kakao Bank announced it has added an artificial intelligence-based transfer function to its mobile application.

The feature enables money transfers via text or voice input, rather than manual data entry.

Customers can provide transfer details in conversational language, and the system identifies recipient accounts by name or user-assigned nickname.

The service is available exclusively to Kakao Bank checking account holders.

According to the bank, transfer limits are set at KRW 2 million (US$1,356) per transaction and per day.

The feature can be accessed through the bank’s mobile application or the Apple Intelligence voice interface.

The bank stated the system requires final authentication before executing transactions.

Kakao Bank stated that it conducted security testing with the Financial Security Institute and implemented verification steps, including requesting clarification when input is ambiguous.

Kakao Bank introduced its first artificial intelligence banking feature, a search tool, in May.

According to the bank, artificial intelligence is being applied to transaction processing rather than being limited to customer service functions.

The company stated it plans to release an automated group account management feature in December and to add artificial intelligence capabilities to additional banking products.

(US$1 = KRW 1,475)