Toss Bank, a digital banking institution in South Korea, has achieved a remarkable milestone by being ranked first in the domestic category of 'The World’s Best Banks 2025' by Forbes for the third consecutive year, following its previous wins in 2023 and 2024. This announcement was made on April 14, 2025, highlighting the bank's commitment to customer satisfaction and innovative banking solutions.
The ranking was part of a comprehensive evaluation conducted by Forbes in collaboration with Statista, a global market research firm. The assessment involved over 50,000 financial consumers across 34 countries, scrutinizing 385 major banks worldwide. Unlike traditional rankings that prioritize asset size or financial performance, this evaluation focused on actual customer experiences and satisfaction.
According to the survey, the criteria for ranking included overall customer satisfaction, the likelihood of recommending the bank to others, trust, terms of use (such as fees and conditions), customer service, digital services, and financial advice. Toss Bank excelled in five out of these seven categories, securing the top position in customer satisfaction, recommendation intention, terms of use, customer service, and notably, digital services.
In the digital services category, Toss Bank received the highest score, reflecting its user-friendly website and mobile app design, ease of information navigation, and overall functionality. This success is attributed to the bank's strategic focus on simplicity and intuitiveness in product and service design since its launch in October 2021.
One of the standout features of Toss Bank is its innovative offerings, such as the 'receive interest on money' option, which allows customers to earn interest on their deposits instantly. Additionally, the bank has introduced a unique 'joint loan' model, which fosters collaboration with local banks, challenging the conventional practices of the financial sector.
In just three and a half years since its inception, Toss Bank has rapidly grown its customer base to over 12 million. This growth is a testament to its effective customer-centric approach and the trust it has built among its users. A representative from Toss Bank remarked, "The result of being ranked first for three consecutive years is significant because many customers perceive Toss Bank not just as a convenient bank, but as a bank they can trust and recommend."
The bank's ongoing commitment to enhancing customer experiences is evident in its efforts to create a financial environment that is not only accessible but also secure for all users. The Toss Bank official added, "We will continue to prioritize the essence of finance while ensuring that everyone can easily and safely use our services in their daily lives."
As the banking landscape continues to evolve, Toss Bank's recognition by Forbes underscores its position as a leader in the digital banking sector. The bank's focus on customer satisfaction and innovative solutions sets a new standard for what consumers can expect from their banking experiences.
