The economic downturn and the disappearance of high-interest products have brought attention to 'jantech' (a method of investing with little money). The financial sector is launching various jantech products to increase the usage of their services, introducing new methods that attract investors, such as receiving money the more accurately they guess stock prices or receiving preferential interest rates the more often they check in.
According to the financial industry on the 20th, Toss prematurely ended its recent 'Flower Piggy Bank' event due to a depletion of funds after just one day. During the event, approximately 6.4 million users reportedly participated. Toss app users can create a virtual account called the flower piggy bank and invite friends to fill 10,000 points by providing meals, allowing them to immediately withdraw 10,000 won in cash. The company can attract new app users while existing users can gain 10,000 won in cash, making the demand align for both sides. In addition, Toss has introduced various experimental cash reward contents like betting on the first snack they want and lucky lottery.
Naver Pay has launched a stock price betting event to promote its new simplified stock trading consolidation service. Users can link their securities account to Naver Pay and predict the stock price of specific stocks. The user who predicts the closest price will receive up to 30,000 points that can be used like cash. Kakao Pay is also offering an annual interest rate of 5% up to 300,000 won for customers who link their Kakao Pay to Kakao Pay Securities and participates in services where they can accumulate cash-like points by answering daily quizzes.
While the fintech industry is focusing on 'app tech,' internet banks and secondary financial sectors have attracted consumers with high-interest small savings accounts. The 'Monthly Savings Plan' recently launched by OK Savings Bank allows subscribers to save up to 10,000 won daily for 30 days. With a base interest rate of 4% and additional preferential rates, the maximum interest can reach 20.25% annually. Similar products include iM Bank's offer, which has an annual maximum interest rate of 7.05%, and Kbank's offer, which has an annual maximum rate of 7.2% for one-month high-interest savings. However, iM Bank's product has sold out ahead of time, while Kbank's product has recorded a cumulative 300,000 accounts.
In the online integrated financial investment business (P2P), bond-type investment products that require open runs are gaining popularity. Due to the characteristics of the P2P industry, investments can be made with as little as 5,000 won, and the time funds are tied up is short, attracting participation from investors with limited capital. Bond-type investment products involve lending money to borrowers secured by collateral such as apartments, stocks, and receivables, with investors receiving an interest rate of 7-20% annually. All products offered by the top P2P firm PFCT this week sold out within five seconds.
The jantech craze results from the absence of high-interest products and the challenging economic climate aligning with the financial industry's service expansion and consumer data demand. According to the 'February consumer price trend' announced by the Statistics Korea on the 5th, the inflation rate of the living price index, which surveys essential goods, was 2.6%, the highest since July of last year. Due to the economic downturn, consumer sentiment is shrinking, and uncertainty over tariff policies from the Trump administration has weakened investment sentiment, leading to increased interest in simple actions to earn money or secure safe profits with small amounts.
A trend that has emerged is moving away from the representative 'step counter format' traditionally associated with jantech. The step counter app tech allowed users to earn points based on their steps, redeemable at various partner locations like convenience stores and cafes. Recently, the financial sector has adopted various elements like betting formats to guess the first place and probabilistic item formats that offer different preferential interest rates for check-ins.
A representative from the financial industry noted, 'Investors who used to focus on stocks are now actively utilizing high-interest short-term products and app tech to secure cash as the stock market's volatility has increased. However, what financial institutions ultimately want is consumer data such as app usage and personal information. Therefore, rather than indiscriminately signing up, I recommend reviewing the consent agreements regarding personal data use and choosing trustworthy financial institutions.'