Welcome Bank

What Welcome Bank does

Welcome Bank operates primarily as Welcome Savings Bank (웰컴저축은행), a private South Korean savings bank incorporated in Seoul and headquartered at Hangang-daero 148. The company is a wholly-owned subsidiary of Welcome Financial Group (웰컴금융그룹), a diversified financial conglomerate that operates 12 subsidiaries with $3.6 billion in total assets across South Korea, the Philippines, Laos, Cambodia, and Vietnam. Founded in 2013, the company employs 501-1,000 staff and distributes its services through 8 domestic branches, internet and mobile banking platforms, a dedicated contact center, and an extensive set of integrated simple-payment partnerships with Toss, KakaoPay, Naver Pay, and PAYCO.

The bank's core product set centers on the Welcome Main Account checking deposit (base rate 0.8% p.a. with preferential add-ons tied to salary transfer, CMS auto-pay, card spend, and marketing consent), installment savings products (Welcome Let's Installment Savings and Welcome Pay Installment Savings offering 1.00-5.50% and 1.00-6.50% p.a. respectively), automated credit loans up to 50 million KRW, real estate mortgage loans, and existing-customer auto loans. A digital banking layer overlays these products with non-face-to-face account opening, MyData personal data aggregation, multi-layered security services (delayed transfers, two-channel authentication, overseas IP blocking), and an AI Financial Assistant conversational service promoted via national TV advertising.

Revenue is generated through interest income on the lending book, deposit-funded spread economics, and fee-based streams including card issuance, foreign exchange, and transaction fees. International operations center on Welcome Bank (Rural Bank) Inc. in the Philippines, which partnered with Trusting Social in February 2026 to launch the first combined eKYC and e-signature digital loan application process in the Philippine rural banking sector, achieving compliance with the BSP automated Fraud Management System mandate five months ahead of the June 2026 deadline. The Korean entity serves retail consumers, SME/business banking clients, and foreign residents through specialized E-9 visa lending and SentBe-powered cross-border remittance.

Name

Welcome Bank

Legal name

웰컴저축은행(주) (Welcome Savings Bank)

Website

https://welcomebank.co.kr

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Welcome Bank operates as Welcome Savings Bank, a private South Korean digital savings bank and subsidiary of Welcome Financial Group, offering deposit products, consumer and mortgage loans, AI-assisted digital banking, and serving retail, SME, foreign resident, and Philippine rural banking customers across five countries.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Commercial Banking (52211)

SIC

Savings Institutions, Not Federally Chartered (6036), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Savings Banks (Public/State-Owned) (FSABAKAK)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Bank Bill Pay (Consumer & Small Business) (FSAMAJAC), Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC)

Keywords

• Retail banking services
• Digital savings banking
• Consumer lending products
• Mobile banking platform
• Cross-border payment services

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income (Loan Origination): Welcome Savings Bank generates primary revenue through interest income on loans extended to customers, including credit loans (웰컴뱅크론), secured real estate-backed loans, and deposit-backed loans. Interest rates vary by product and creditworthiness, with maximum credit loan limit of 50 million KRW.
2. Interest Income (Deposit Taking): The bank collects deposits from retail and business customers through various deposit products including savings accounts, time deposits, and regular savings plans, using these funds to support lending operations.
3. Fee-Based Services: Revenue generated from card services (card issuance and usage fees), foreign exchange services, and other banking service fees including account management and transaction fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Welcome Bank (Welcome Savings Bank) operates a Korean digital savings bank providing interest-bearing deposit accounts, installment and regular savings products, consumer and mortgage credit loans, check cards, foreign exchange, and digital banking services to individual retail and SME customers across 8 branches and digital channels. The bank is part of Welcome Financial Group, extending its services into the Philippines, Laos, Cambodia, and Vietnam through rural banking, finance, and leasing subsidiaries.

Product overview

Welcome Bank operates as a multi-faceted financial institution offering a comprehensive digital banking platform with both core deposit/loan products and advanced digital services. The core product portfolio centers on the Welcome Main Account (웰컴 주거래통장) checking account with integrated simplified payment capabilities, complemented by installment savings products (웰뱅하자 정기적금, 웰컴 페이적금) and lending solutions (웰컴뱅크론 자동대출, 부동산담보대출). The digital ecosystem includes AI-powered services like the AI Financial Assistant (AI 금융비서), MyData management tools, and eKYC/e-signature capabilities for fully digital loan processing. For international customers, Welcome Savings Bank provides specialized products including E-9 visa holder loans, foreign resident debit cards, and cross-border payment services via SentBe partnership. The bank also offers enterprise banking, security services, and currency exchange facilities through its online and mobile banking channels.

Differentiator

Problem solved

Functional benefit

Brands

• WELL BANK: Mobile banking application brand for Welcome Savings Bank customers
• Welcome Pay (웰컴페이)
• Welcome Phoenix (웰컴피닉스)

Products and services

• Welcome Main Account (웰컴 주거래통장) A checking deposit account that pays variable interest (base 0.8% p.a.) with preferential rate add-ons tied to salary/living expense transfers, automatic payment enrollments, check card spending, and marketing consent. Integrated with Toss, KakaoPay, PAYCO, and Naver Pay for simple payment authentication. Targeted at individual Korean retail customers, especially salary earners managing living expenses.
• Welcome Regular Savings (웰뱅하자 정기적금) Installment savings product offering interest rates of 1.00–5.50% per annum, providing preferential rates based on saving tenure and amount. Targeted at individual retail customers seeking systematic savings accumulation.
• Welcome Pay Savings (웰컴 페이적금) Installment savings product with interest rates of 1.00–6.50% per annum, designed to incentivize savings through the bank's payment ecosystem. Targeted at retail customers who transact via Welcome Pay.
• Welcome Bank Loan Auto (웰컴뱅크론(자동)) Automated credit loan product with a maximum loan limit of 50 million KRW. Interest rates are determined by individual credit assessment. Provides quick access to unsecured credit based on credit scoring without extensive documentation requirements. Part of the mid-high interest loan (중금리대출) product line. Targeted at individual retail customers.
• Existing Customer Auto Loan (기존고객 자동대출) Automated lending product for existing customers who meet internal criteria, allowing quick loan access based on established banking relationship and credit history with the bank. Targeted at the bank's existing individual retail customer base.
• Welcome Real Estate Mortgage Loan (웰컴 부동산담보대출) Real estate-backed loan product with differentiated limits based on collateral property value. Offers secured lending with potentially lower interest rates compared to unsecured credit products. Targeted at individual retail customers holding property collateral.
• E-9 Visa Holder Lending Program (E-9 비자 전용 대출 프로그램) Specialized lending product designed for E-9 visa (non-professional foreign worker) holders residing in South Korea. Part of Welcome Savings Bank's strategy to serve the 2.83 million foreign resident population, addressing documented access barriers for non-citizens.
• Welcome Foreigner All-In-One Card (웰컴 외국인 올인원 카드) Debit card specifically designed for foreign residents and global customers in South Korea. Accepted as a qualifying payment method for the Welcome Main Account's transaction-performance criteria, enabling foreign residents to earn preferential interest rates on the main account.
• Cross-Border Payment Services (해외송금 서비스) Cross-border payment and remittance services offered in partnership with fintech firm SentBe, enabling foreign residents in South Korea to transfer funds internationally. Targeted at the 2.83 million foreign resident population with documented remittance friction.
• Digital Loan Application with eKYC and e-Signature (eKYC 및 전자서명 기반 디지털 대출 신청) Fully digital loan application process integrating eKYC protocols and e-signature for smartphone-based loan origination. Enables provincial and rural customers in the Philippines to apply for business, personal, and auto financing without branch visits or manual paperwork. Launched by Welcome Bank (Rural Bank), Inc. in partnership with Trusting Social Philippines. First such combined technology deployment in the Philippines rural banking sector.
• Foreign Exchange Services (환전서비스) Currency exchange services offering real-time exchange rates, an exchange rate calculator, and reservation-based exchange services for international transactions. Available to individual and business banking customers through internet and mobile banking channels.

Quantifiable outcome

• First combined eKYC and e-signature technology deployed in the Philippines rural banking sector, enabling provincial customers to apply for business, personal, and auto financing through smartphones without branch visits
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability5 records

Feature6 records

Partnerships

One partnership is on record.

• Trusting Social PhilippinescoreTechnology or Integration · 24 February 2026Welcome Bank (Rural Bank), Inc., the Philippines subsidiary of Welcome Financial Group, has partnered with Trusting Social Philippines to launch a fully digital loan application process. The partnership enables provincial customers to apply for business, personal, and auto financing through smartphones using eKYC protocols and e-signature. The system automates identity verification through government ID photos and selfie liveness detection, replacing manual paperwork and branch visits. Welcome Bank achieved early compliance with Anti-Financial Account Scamming Act and Bangko Sentral ng Pilipinas' automated Fraud Management System mandate through this technology deployment.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Kakao Bank: Kakao Bank is Korea's largest internet-only bank, embedded within the KakaoTalk super-app ecosystem serving tens of millions of users with deposits, lending, and investment products. It is a direct competitor to Welcome Savings Bank for Korean digital retail and SME banking customers, though it operates at materially larger scale and is integrated into a super-app that Welcome must rent access to.
• Toss Bank: Toss Bank is a Korean internet-only bank built on the Toss super-app financial platform, offering deposits, lending, cards, and investment products. It directly competes with Welcome for digital-native Korean retail customers and is one of the simplified-payment partners integrated into Welcome's own deposit product.
• K Bank: K Bank is one of Korea's three internet-only banks, offering deposits, lending, and digital banking services with a tech-first operating model. It is a direct peer to Welcome Savings Bank in the Korean digital banking segment, competing for similar retail and SME customers with a comparable technology-led approach.
• OK Savings Bank: OK Savings Bank is one of Korea's largest savings banks (저축은행), offering deposits, installment savings, and consumer lending with a multi-branch network. It is a direct peer in the same Korean savings bank regulatory tier as Welcome Savings Bank, competing for similar retail credit loan and installment savings customers.
• SBI Savings Bank: SBI Savings Bank is a Korean savings bank with strong digital banking capabilities and a fintech-led operating approach, backed by SBI Group. It directly competes with Welcome in the Korean digital savings bank segment for retail deposits and credit loans.
• KB Capital: KB Capital (formerly including KB Savings Bank) is a Korean financial services subsidiary of KB Financial Group offering consumer lending, installment finance, and savings products. It is comparable to Welcome Savings Bank as a tier-1 Korean savings/consumer finance player with group backing, competing in similar retail credit segments.
• ASA Philippines Foundation: ASA Philippines is one of the largest microfinance and rural banking operators in the Philippines, serving low-income and provincial clients with credit, savings, and insurance products. It is a direct peer to Welcome Bank (Rural Bank), Inc. in the Philippine rural/microfinance banking segment, both targeting unbanked provincial populations.
• CARD Bank Inc. CARD Bank is a Philippine rural bank focused on microfinance and serving low-income clients, operated within the CARD MRI network. It is a direct peer to Welcome Bank (Rural Bank), Inc. in the Philippine rural banking segment, both targeting provincial and unbanked customers with similar small-ticket loan and savings products.

Regional players

• UnionBank of the Philippines: UnionBank is a Philippine universal bank with a strong digital transformation focus, offering mobile-first banking and serving both retail and SME customers. It operates in the same Philippine market as Welcome's rural bank subsidiary but at a materially larger scale and broader product set, making it a comparable regional player rather than direct segment competitor.

Broad incumbents

• Hana Bank: Hana Bank is one of Korea's largest commercial banks, offering full-service retail, SME, and corporate banking with a national branch network. It competes with Welcome Savings Bank for Korean retail deposits and personal loans, but as a much larger, full-service commercial bank incumbent, rather than as a direct digital savings bank peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/welcomesb

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Welcome Bank