The Financial Supervisory Service (FSS), in collaboration with several financial associations, is set to enhance the financial product comparison disclosure system. A key update is the inclusion of exchange-traded funds (ETFs) in the pension savings product comparison, alongside improvements to the mobile disclosure interface. On December 25, the FSS and seven financial associations conducted a satisfaction survey and outlined their plans for these enhancements. The “Financial Products at a Glance” and “Integrated Pension Portal” platforms will be updated to offer more comprehensive information on interest rates, transaction conditions, and pension product returns. The introduction of ETF data will allow users to compare average annual returns and fee rates easily. Additionally, the mobile interface for business loan products will be upgraded to improve usability, with open APIs and comparison features being made available. Insurance product comparisons for seniors will be expanded, and the deposit product search function will be refined to include more detailed regional information. The annual satisfaction survey, which saw participation from 4,924 individuals, revealed an increased satisfaction rate of 82.7%, a rise of 3.6 percentage points from the previous year. The FSS plans to implement these improvements promptly and continue to seek consumer feedback to enhance the system further.
How is the FSS enhancing the financial product comparison disclosure system?
