SEOUL, Nov. 13 (Korea Bizwire) – The adoption of artificial intelligence (AI) in financial services by commercial banks is rapidly gaining momentum. Specifically, the integration of generative AI, which derives new value by learning from existing data, is being hailed as a pivotal driver of growth within the financial sector and a cornerstone of innovation in [...]
SEOUL, Aug. 4 (Korea Bizwire) — South Korea will provide various forms of support to help local financial firms more actively use fast-advancing artificial intelligence (AI) technology in their businesses, a top financial regulator said Thursday. In a meeting with major financial and tech companies in Seoul, Kim So-young, vice chair of the Financial Services [...]
SEOUL, March 25 (Korea Bizwire) — South Korea’s chief financial regulator has announced a host of new policy measures and reforms, including a measure to prevent parents who are estranged from their children from receiving insurance money for their children’s deaths. The Financial Services Commission (FSC) said Tuesday that it has drawn up 18 improvements [...]
SOUTHBOROUGH, Mass., Jun. 3 (Korea Bizwire) — Hitachi, Ltd. (TSE: 6501, Hitachi) and Virtusa Corporation (NASDAQ GS: VRTU) a global provider of digital strategy, digital engineering, and IT outsourcing services that accelerates business outcomes for its clients, today announced a new partnership to capitalize on the rapidly growing adoption of AI in financial services. The [...]
Stuttgart, Germany, Nov. 15 (Korea Bizwire) — Daimler Financial Services AG announced today that Klaus Entenmann, Chairman of the Daimler Financial Services AG Board of Management (BoM), will step down from his position in May 2019. This move allows a smooth transition to a new leadership team before his scheduled retirement in December 2019. The [...]
The Partnership Aims to Help Provide Socially Conscious Services That Give Back to Emerging Markets SANTA MONICA, CA, Jul. 20 (Korea Bizwire) - Meed, the Santa Monica-based company committed to bringing socially-conscious innovation to the financial sector, today announced that it has signed an agreement with Cambridge Global Payments of Toronto, Canada. Meed and its [...]
SEOUL, July 25 (Korea Bizwire) – Ahead of a measure to relax regulations on barriers between different financial services such as banking, securities, and insurance, responses are mixed. Some large financial service firms with operations across multiple areas welcome the announcement while those that are not big enough fret that the measure would change the industry landscape completely [...]