The Financial Supervisory Service (FSS), in collaboration with seven financial associations, is set to enhance the financial product comparison disclosure system by incorporating exchange-traded funds (ETFs) into the pension savings product comparison and upgrading the mobile disclosure interface. This initiative aims to facilitate consumer access to comprehensive financial product information. On December 25, the FSS and the associations conducted a satisfaction survey, revealing an overall satisfaction rate of 82.7%, a 3.6 percentage point increase from the previous year. The survey involved 4,924 participants and highlighted areas for improvement. Consequently, the “Integrated Pension Portal” will now include ETF data for pension savings, enabling easier comparison of returns and fees. Additionally, the “Financial Products at a Glance” platform will enhance its mobile interface for business loan products, offering open APIs and product comparison features. Efforts will also be made to improve the insurance product comparison for seniors and refine the deposit product search functionality. The FSS is committed to implementing these improvements promptly and will continue to seek consumer feedback to further refine the system.
How is the FSS Improving the Financial Product Comparison Disclosure System?
