The FSC and the FSS held the 11th working group meeting of the taskforce on improving the management and operating practices of banks and banking system on June 7, chaired by FSC Vice Chairman Kim So-young. At the meeting, participants talked about ways to improve rules on financial institutions' service entrustment practices and introduce proxy banking services via joint branches or post offices. In his speech, Vice Chairman Kim discussed the importance of promoting competition within the banking sector and boosting consumer access to financial services by strengthening collaboration between different players from diverse sectors. In this regard, Vice Chairman Kim said that it is necessary to come up with measures that will help make financial services more accessible for those who are digitally deprived. For allowing proxy banking services, Vice Chairman Kim said that it is necessary to clearly establish appropriate levels of authority and responsibility for both financial institutions and third-party service providers to ensure financial stability and consumer protection.