TV Banking Services start

Dacom, Korea¡¯s No. 3 fixedline telecom operator, will launch TV-based banking services today along with Korea Post, the country¡¯s postal service.
Clients of the state-run Korea Post who are subscribed to cable TV through the Korea Digital Media Center (KDMC) can enjoy the on-screen applications.

¡°Our TV banking services will enable TV viewers to access their accounts at Korea Post and transfer funds by remote control,¡± Dacom official Kim Min-soo said.

¡°Customers of KDMC-associated cable TV operators can enjoy the services by replacing their analogue set-top boxes with digital ones,¡± Kim said.

KDMC, the country¡¯s top digital media center, currently has 23 cable TV operators and four million subscribers under its wing across the country, People can check whether or not they are users of KDMC by examining an inscribed logo on their set-top box or monthly billing notice.

This is not the first time that TV banking, sometimes called ¡°sofa banking,¡± is being introduced in Korea as CJ CableNet launched it in May.

CJ, one of the country¡¯s leading cable TV carriers, teamed up with a pair of local banks to launch TV banking but its subscriber base is still negligible.

¡°CJ provides TV banking mostly in Seoul while our services will be available nationwide. In addition, we have an edge in security compared to the conventional Internet-enabled banking,¡± Kim said.

Kim said Dacom¡¯s TV banking is based on dedicated lines, which are free from hacking or traffic overload.

He noted Dacom plans to hook up with Kookmin Bank, the nation¡¯s foremost lender, in September to expand service coverage.