Banks Intensify Competition in Business Financial Platforms with Enhanced NTS Integration

Major domestic banks are entering the digital financial service competition by expanding their connectivity with the National Tax Service's Hometax and Sontax (a simplified tax filing app) for sole proprietors and small and medium-sized enterprises (SMEs). This move is part of an effort to enhance 'non-financial platform' services, which aim to help business owners conveniently manage all necessary processes, from tax filing to financial transactions, in one place.

KB Kookmin Bank offers a service allowing the issuance of electronic tax invoices through the NTS Hometax and Sontax via its 'KB Kookmin Certificate (Corporate)'. IBK Industrial Bank has also joined the competition by applying its 'IBK Certificate (for Corporate Use)' to NTS services. These initiatives eliminate the annual cost burden of up to 110,000 won previously associated with using joint or financial certificates, and enable authentication via fingerprint or simple password without separate storage media. The service is being offered free of charge until the end of this year to enhance convenience for small business owners and SMEs.

Kakao Bank, an internet-only bank, has expanded the application of its app-based business certificate as an authentication method for the NTS. Currently, it supports Hometax login and the issuance of electronic tax invoices.

Shinhan Bank is focusing on providing non-face-to-face document issuance support using AI voice bots, chatbots, digital desks, and smart kiosks, timed with the comprehensive income tax filing season in May. It also offers personalized guidance through its 'Mobile Voice Bot Service'.

The core of this competition lies in certificates transforming from simple login tools into integrated infrastructures connecting tax, finance, and administrative services. In the past, the structure centered around joint certificates faced issues of reduced usability and cost burdens. However, with the introduction of private certificates, combined with free or low-cost, simple authentication, and a mobile-centric environment, they have emerged as a key channel for attracting business customers.