주요국 인터넷전문은행의 현황과 그 법적 시사점

Abstract

On November 29th, 2015, the Financial Services Commission(FSC) authorized the preliminary launch of the first Internet only banks by Kakao and KT consortium. It had been 23 years since the last banking authorization in Korea. Internet only bank is a bank that operates mostly through electronic and virtual means such as the Internet and ATM with no branches operating in physical form. The interest in Internet only bank was sparked by the development of ICT and the growing use of the Internet. Internet only banks can not only save labor costs from operating branches but can also differentiate themselves from traditional banks by offering distinguished services such as mobile-based services. However, with the launch of Internet only banks, there is a need for the adjustments of the related statues. Regarding the adjustments, it would be helpful to examine the status of Internet only banks in major countries. Thus, in this paper, first, the concept of Internet only bank and its course of development will be explained, second, the status of Internet only banks in the US, Japan, the UK, Germany, and China will be introduced, and last, several legal implications from the foreign cases that can improve the current domestic regime will be discussed. The major points for the improvement of the current regime are market entry barriers such as minimum capital requirement, ownership structure related matters such as easing the separation between banking and commerce, business plan, and scope of business, solvency regulation, and business activity monitoring. Other relevant points include issues of computer system, electronic payment system, deposit insurance, and method of confirming an individual’s identity with opening a bank account.