The Financial Services Commission(FSC) on Wednesday granted approval to Kakao Bank, the nation’s second Internet-only bank.
 
The financial regulator said that it decided the Web-only bank satisfies requirements for banking services after a three-month review.
 
With the approval, Kakao Bank will likely launch operations as early as June.
 
Internet banks offer banking and other financial services around the clock without offices, allowing customers to use the services on their smartphones or ATM machines.