Toss Bank eyes global expansion by 2030

Toss Bank is eyeing global expansion into advanced economies within five years, aiming to improve the financial experience of international customers, the internet bank said Wednesday. "Although advanced markets — the U.S., London, Hong Kong and Singapore — have sophisticated financial systems, their customer experience often falls short," Toss Bank CEO Rhee Eun-mi said. "From a customer experience perspective, we see many opportunities to add value. In fact, many have already reached out to us." Her remarks came as the internet-only bank, established in October 2021, unveiled its mid- to long-term strategies at a press meeting on Wednesday. Rhee expressed confidence. "In the past, global expansion was largely driven by capital and sales force. But today, the real differentiators are customer-centric problem-solving and technological innovation." Toss Bank is also setting its sights on developing markets, particularly Southeast Asia. The bank’s initial mode of entry may involve equity investments or joint banking models, though it is also open to providing select services through B