Toss Bank

What Toss Bank does

Toss Bank is South Korea's third-largest internet-only bank, launched in 2021 as a wholly-owned subsidiary of Viva Republica, operator of the Toss super-app ecosystem. The bank serves approximately 15 million retail customers through a mobile-first, branchless distribution model embedded within the Toss super-app, which has approximately 30 million registered users across South Korea. Its product portfolio spans deposit accounts (personal, business, group, children's, and corporate), savings products with gamification features (Keyword Savings, Gulbi Savings, prenatal and children's savings), personal and business loans (including Korea's first fully digital business loan from an internet-only bank), multi-currency foreign exchange across 17 currencies, international remittance to 30+ countries, and checkcards plus co-branded credit cards issued with Hana Card. The bank also maintains a single physical support center in Yeoksam, Seoul.

The bank's technology stack is cloud-native and mobile-first, anchored by an ML-powered Fraud Detection System (FDS) with 24/7 monitoring and the proprietary Siren Alert system that has prevented 3,255 billion KRW in customer fraud damages. Alternative credit scoring models leverage non-financial data (mobile bills, utility payments, spending patterns) to underwrite thin-file borrowers underserved by traditional banks. An internally developed Helpdesk customer support system unified inquiries, corporate support, delinquency, and phone response into a single interface, delivering 32% improvement in support quality, 56% faster chat resolution, and 26% faster call handling. Toss Bank is currently piloting Solana blockchain infrastructure for stablecoin-based cross-border remittances under a June 2026 MOU with the Solana Foundation, the first such direct partnership between a Korean internet-only bank and the foundation.

Toss Bank generates revenue primarily through net interest income on loans (credit, mortgage-prep, jeonse, business) and deposits, supplemented by transaction-based fees from card interchange, foreign exchange (100% markup with zero commission on 17 currencies), overseas remittance (as low as 3,900 KRW per transaction), and insurance products including jeonse deposit protection. The bank became profitable in July 2023 and reported 96.8 billion KRW in net profit in 2025, with capital adequacy around 13%. Toss Bank has raised approximately 1.935 trillion KRW in paid-in capital through multiple rounds, with its standalone valuation at 2.4 trillion KRW as of September 2023. Parent Viva Republica is valued at 20.5 trillion KRW following a January 2026 share swap with China's Ant Group and is preparing for a Nasdaq IPO targeting over $10 billion.

Name

Toss Bank

Legal name

토스뱅크 주식회사

Website

https://tossbank.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Short description

Toss Bank is South Korea's third-largest internet-only bank serving 15 million customers via a mobile-first platform embedded in the Toss super-app, offering accounts, loans, FX, cards, and cross-border remittances.

Ownership category

akta.pro rank

Product category

Digital Banking (Internet-Only Bank)

NAICS

Depository Credit Intermediation (5221), Commercial Banking (52211), Credit Card Issuing (52221)

SIC

National Commercial Banks (6021), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Digital Retail Banking (Online & Mobile) (FSABAAAF)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Tokenized Bank Deposit & Commercial Bank Money Issuers (FSADADAB), Account Verification & Ownership (AVS/AOV, micro-deposits, auth) (FSAGACAB), Liquidity & Cash Concentration (Sweeping, pooling, notional pooling) (FSABAIAC), Digital Lottery & iLottery Platforms (Web/App) (MPAEAFAD)

Keywords

• Digital banking services
• Internet-only bank
• Mobile banking app
• Foreign exchange remittance
• Consumer lending

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Net Interest Income (NII): Primary revenue stream from interest earned on loans (credit loans, mortgage loans, Jeonse deposit loans, business loans) net of interest paid on deposits. Toss Bank offers credit loans, emergency loans, minus accounts, Jeonse loans, and business loans, generating interest margin revenue typical of a bank.
2. Foreign Exchange Services: Revenue from foreign exchange transactions including overseas remittance fees. Toss Bank offers commission-free FX with 100% exchange rate markup on 17 currencies and remittance services to 30+ countries, priced competitively at 3,900 won per transaction.
3. Card Transaction Fees and Cashback: Revenue from payment processing on check cards and co-branded credit cards (e.g., OneCard Day, Moim Card). Cards offer 0.3% cashback on business cards, 10% discount in 8 lifestyle categories on OneCard Day. Cashback is funded by interchange fees from merchants.
4. Blockchain/ Stablecoin Remittance Pilot: Non-revenue-bearing proof-of-concept pilot testing Solana blockchain for stablecoin-based cross-border remittances. Potential future revenue stream if commercialized, targeting the global remittance market projected at $320 trillion by 2032.
5. Fee-based Income (Insurance and Services): Revenue from insurance products including Jeonse deposit protection insurance, and various service fees including account management, wire transfer certificates, and business banking services.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels9 records

Core offering

Toss Bank is a digital-only internet bank providing deposit accounts, savings products, personal and business loans, multi-currency foreign exchange accounts, international remittances to 30+ countries, check cards, and co-branded credit cards. All services are delivered through a mobile app and embedded within the Toss super-app ecosystem. The bank also offers consumer protection features including ML-powered fraud detection (Siren Alert) and Korea's first 100% non-face-to-face business loan for sole proprietors.

Product overview

Toss Bank operates as a digital-only bank (internet-only bank, Korea's third-largest) under parent company Viva Republica, offering a comprehensive suite of financial products through its super-app ecosystem serving 15 million customers. The product portfolio centers on deposit accounts (personal, business, group, children's, and corporate accounts), savings products (time deposits, installment savings with gamification features like Keyword Savings and Gulbi Savings), credit products (personal loans, business loans, overdraft facilities, jeonse loans), foreign exchange services (multi-currency accounts and international remittances), and card products (checkcards and co-branded credit cards). Key differentiators include Korea's first 100% non-face-to-face business loan, AI-powered fraud detection with proactive Siren alerts, fee-free services (ATM withdrawals, transfers, currency exchange), and innovative features like upfront interest payments and gamified savings. The bank is expanding into blockchain-based cross-border remittances through a Solana partnership pilot and preparing to enter the mortgage market.

Differentiator

Problem solved

Functional benefit

Brands

• Toss: Super-app ecosystem operated by parent company Viva Republica, serving approximately 30 million registered users with financial services including banking, securities, and payments.
• Toss Securities

Products and services

• Toss Bank Account (토스뱅크 통장) Basic checking account with daily interest accrual, fee-free internal and external transfers, up to 30 free ATM withdrawals monthly, and free certificate issuance. Offers up to 1 billion won per transaction with card-only authentication.
• Space Account (나눠모으기 통장) Goal-based savings account that automatically organizes money by purpose (emergency, travel, gifts) with daily compound interest accrual. Users can create multiple sub-accounts for different financial goals.
• Teens Account (아이통장) Banking account for children aged 0-16 managed by parents/guardians through the Toss Kids service. Features no documentation requirements and fully digital verification for account opening.
• Personal Business Account (개인사업자 통장) Business checking account with bulk payment capabilities for payroll (10-second salary processing), multi-recipient transfers, and a business checkcard offering 0.3% cashback on all purchases.
• Time Deposit with Upfront Interest (먼저 이자 받는 정기예금) Time deposit that pays interest immediately upon deposit rather than at maturity, with funds credited within 3 seconds. Allows early interest to be reinvested or used while principal remains deposited.
• Keyword Savings (키워봐요적금) Mission-based savings where successfully completing weekly auto-transfers for 6 months earns up to 3.8% p.a. interest (base 1.8% + 2% preference). Features gamification with virtual pet animals that grow as savings milestones are achieved. 6-month term with max 1 million KRW monthly deposit.
• Corporate Fixed Deposit (법인 정기예금) Corporate time deposit available exclusively to shareholders and partners, with terms from 1 month to 3 years and rates ranging from 0.45% to 0.90% depending on duration. Minimum 100 million KRW.
• Minus Account (마이너스통장) Overdraft account allowing negative balance up to approved limit for emergency cash needs with interest charged only on used amount.
• Emergency Loan (비상금 대출) Quick access credit loan for unexpected financial needs with streamlined application and approval process.
• Personal Business Loan (개인사업자대출) Korea's first 100% non-face-to-face business loan from an internet-only bank, for self-employed individuals and small business owners. Has disbursed 3.6 trillion won to 74,000 business owners.
• Jeonse Deposit Loan (전월세보증금대출) Loan product for covering jeonse (Korean key money) deposits, allowing tenants to finance their housing deposit with flexible repayment options.
• Foreign Currency Account (외화통장) Multi-currency account supporting 17 currencies with lifetime fee-free exchanges at 100% exchange rate preference. Offers 2% cashback on overseas purchases when used with Toss Bank check card.
• Overseas Remittance (해외송금) International money transfer service supporting 7 major currencies to 30+ countries with real-time transfer capability within one hour, priced as low as 3,900 KRW per transaction with unified annual remittance limit of $100,000.
• Personal Business Checkcard (개인사업자 체크카드) Business checkcard with unlimited 0.3% cashback on all purchases, HomeTax integration for automatic expense categorization, and automatic tax document generation for quarterly and annual filings. Business owner name engraved on card.
• K-Pass Checkcard (K-패스 체크카드) Checkcard combining banking and transit functionality, allowing payments and transportation (subway, bus) in a single card for convenient daily commuting.
• Hana Card Day (하나카드 Day) Co-branded credit card with Hana Card offering 10% cashback on 8 spending categories including hospitals, apartments, telecom, shopping, academies, coffee, insurance, and golf. Annual fee 20,000 KRW; cashback tiered based on monthly spending up to 30,000-50,000 KRW monthly.
• Jeonse Guardian Insurance (전세지킴보증) Insurance product protecting tenants from jeonse deposit fraud by monitoring property deed changes and alerting beneficiaries. 14,000 subscribers protecting 3 trillion KRW in deposits.
• Group Account (모임 통장) Joint savings account for groups (friends, families, organizations) allowing multiple participants to save together with shared management and automatic collection features.
• Group Card (모임카드) Checkcard for group account participants allowing any member to pay while earning individual tax deductions. Features cashback on dining, shopping, and entertainment with up to 500 won per transaction.

Quantifiable outcome

• Fraud prevented: 3,255 billion KRW through Siren Alert system (2.53M alerts sent)
• +10 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability2 records

Feature6 records

Partnerships

Five partnerships are on record, tiered flagship, core and minor.

• Solana FoundationflagshipTechnology or Integration · 19 June 2026Toss Bank signed an MOU with the Solana Foundation on June 19, 2026 in Seoul for a proof-of-concept pilot to test Solana blockchain infrastructure for stablecoin-based cross-border remittances and settlement. The pilot aims to assess whether Solana's network can reduce settlement costs and shorten transfer times compared to traditional correspondent banking across 7 major currencies and 30 countries. Both organizations will also conduct joint research into stablecoin services, digital assets, compliance controls, and long-term banking integrations. This is the first direct strategic cooperation between a South Korean internet-only bank and the Solana Foundation.
• NH Investment & SecuritiescoreStrategic or Co-development PartnerNH Investment & Securities partnered with Toss Bank to launch Korea's first installment gold saving service, based on the Korea Exchange's Gold Market. The service allows users to regularly purchase gold without capital gains tax, targeting Millennials and Gen Z interested in safe-haven assets. This partnership enables Toss Bank to offer alternative investment products within its platform.
• Hana Card (하나카드)coreChannel Partner/ Reseller/ DistributorToss Bank issues the OneCard Day (하나카드 Day) co-branded credit card in partnership with Hana Card. Hana Card serves as the card network and issuer while Toss Bank handles customer acquisition through its digital platform. The card offers 10% cashback in 8 lifestyle categories (hospital, apartment management, telecom, shopping, academy, coffee, insurance, golf). Toss Bank acts as a card membership recruitment agent for Hana Card.
• Viva Republica (Parent Company)coreOthersViva Republica operates the Toss super-app ecosystem (serving ~30M users) of which Toss Bank is a subsidiary. The super-app provides the primary distribution channel and customer acquisition funnel for Toss Bank's products. Parent company is preparing for a US IPO targeting $10B+ valuation.
• Swiss Banking DelegationminorOthersSwiss banking leaders visited Toss Bank in Seoul to learn about its digital banking innovations and customer service model, touring facilities and receiving briefings on growth, risk management, and contributions to digital finance.

Scale indicators23 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• KakaoBank: KakaoBank is South Korea's largest internet-only bank and Toss Bank's primary direct competitor, offering a similar mobile-first deposit, lending, and FX product suite to a comparable mass-market Korean consumer base via the KakaoTalk super-app.
• K Bank: K Bank is Korea's first and second-largest internet-only bank and the third wheel of the Korean IBR market alongside KakaoBank and Toss Bank, matching Toss on digital deposits, personal loans, and BaaS offerings.
• Revolut: Revolut is a global digital bank offering fee-free FX, multi-currency accounts, remittances, and card products through a mobile-first super-app, making it the closest international analog to Toss Bank's product/GTM model outside Korea.
• N26: N26 is a European mobile-only neobank offering checking accounts, savings, consumer credit, and premium subscriptions through a digital-only stack directly comparable to Toss Bank's internet-only banking model.
• WeBank: WeBank, the Tencent-affiliated Chinese internet-only bank, is among the world's largest digital-only banks by customers and is highly comparable to Toss Bank in leveraging a super-app parent (WeChat/Toss) for low-cost digital customer acquisition and embedded lending.

Emerging players

• Kakao Pay: Kakao Pay is a mobile payments and fintech platform sitting within the same Korean super-app distribution paradigm as Toss, increasingly extending into lending, insurance and wealth, and competing for the same Toss Wallet / Toss Bank user moments.
• Naver Financial: Naver Financial is the fintech arm of Naver, Korea's leading internet conglomerate, building banking, payments, securities and insurance products distributed via the Naver super-app - a structural analog to Toss Bank's ecosystem play in Korea.

Broad incumbents

• KB Kookmin Bank: KB Kookmin Bank is South Korea's largest incumbent retail and commercial bank, with whom Toss Bank competes for deposits, mortgages (post the planned 2026 launch), SMB lending, and FX customers; it sets the legacy banking benchmark against which Toss Bank differentiates.
• Hana Bank: Hana Bank is a major Korean incumbent and Toss Bank shareholder and parent of card partner Hana Card, providing a legacy banking counterweight and the operational partner on Toss Bank's co-branded OneCard Day credit card product.
• Shinhan Bank: Shinhan Bank is one of Korea's Big Four incumbents with full retail, corporate, and digital banking operations that overlap with Toss Bank's deposit, loan, FX, and card product categories; it competes for the same household and SMB customer wallet.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/toss__bank
• YouTubeyoutube.com/channel/UCJwvlCWreTTO2IAPS8hEfKQ
• LinkedInlinkedin.com/company/toss-bank
• Instagraminstagram.com/tossbank.official

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds6 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Toss Bank