Fintech Archives | Be Korea-savvy
Three Consortia Apply for Internet-only Bank: Regulator

Three Consortia Apply for Internet-only Bank: Regulator

SEOUL, Oct. 15 (Korea Bizwire) — South Korea’s financial regulator said Tuesday it received applications from three consortia, including one led by a fintech firm, for a license to set up a new internet-only bank. Fintech firm Viva Republica led one consortium, which included KEB Hana Bank, Hanwha Investment & Securities and the Korean unit [...]

Market FinTech Ranks CUBE Top RegTech Supplier in 2019 Report

Market FinTech Ranks CUBE Top RegTech Supplier in 2019 Report

LONDON, Oct. 2 (Korea Bizwire) — CUBE has announced that its regulatory intelligence and regulatory change management solution has achieved the overall number one ranking in the 2019 Market FinTech RegTech Suppliers Report. CUBE’s Digital Regulation Platform (DRP) was awarded the top spot in four key categories: Compliance, Risk and Due Diligence Universal Tool Regulatory [...]

Virtusa Increases Position in the 2019 IDC FinTech Rankings

Virtusa Increases Position in the 2019 IDC FinTech Rankings

SOUTHBOROUGH, Mass., Sept. 23 (Korea Bizwire) — Virtusa Corporation (NASDAQ GS:VRTU), a global provider of digital strategy, digital engineering and IT services and solutions that help clients change and disrupt markets through innovation engineering, announced it has been ranked at number 29 out of 100 on the 2019 IDC FinTech Rankings, increasing its position over the previous year.  Now in [...]

Indonesian Lending Startup JULO Raises $10M Series A2

Indonesian Lending Startup JULO Raises $10M Series A2

JAKARTA, Sept. 22 (Korea Bizwire) — JULO, a leading peer-to-peer lender offering personal loans across Indonesia, today announced a $10 million extension round to its Series A financing. The round was led by Quona Capital, a leading fintech venture firm whose funds are sponsored by Accion, with participation from existing investors Skystar, East Ventures, Provident, [...]

Regulator to Ease Investment Rules on Financial Firms for Fintech Sector

Regulator to Ease Investment Rules on Financial Firms for Fintech Sector

SEOUL, Sept. 4 (Korea Bizwire) — South Korea’s financial regulator said Wednesday it will ease some rules on financial firms investing in fintech firms, as part of its effort to promote the fintech industry. The new guideline, unveiled by the Financial Services Commission (FSC), will expand the scope of fintech firms for which financial firms’ [...]

Banks to Fully Open Payment System to Fintech Firms in December

Banks to Fully Open Payment System to Fintech Firms in December

SEOUL, Jun. 20 (Korea Bizwire) — South Korean banks will fully open their payment system to fintech firms in December, officials said Thursday, in a move that could encourage the development of new payment services and greater competition in the financial sector. Currently, the financial payment network in South Korea has a closed system accessible [...]

Kakaopay to Expand Offline Payment Service

Kakaopay to Expand Offline Payment Service

SEOUL, May 20 (Korea Bizwire) — Kakaopay Corp. said Monday that it will expand its offline payment business to solidify its status as South Korea’s leading fintech service platform provider. Kakaopay said it plans to launch its own application within this year so that more users can use credit cards through the one-click payment system [...]

Payvision Celebrates its 1st Anniversary with ING with Over 50 pct Growth and a Brand-new Visual and Sonic Identity

Payvision Celebrates its 1st Anniversary with ING with Over 50 pct Growth and a Brand-new Visual and Sonic Identity

AMSTERDAM, The Netherlands, May 15 (Korea Bizwire) — Payvision, a global payments fintech player celebrates its one-year partnership with ING, one of the largest European banks, with a brand-new visual and sonic identity, marking the company’s shift into a new era. Payvision had an excellent year in 2018, fueled by its strategic partnership with ING, [...]

Financial Firms to Spend 585 bln Won to Adopt New Technologies

Financial Firms to Spend 585 bln Won to Adopt New Technologies

SEOUL, May 14 (Korea Bizwire) — South Korean financial firms plan to spend a total of 585 billion won (US$492 million) this year to adopt new technologies, such as artificial intelligence and big data analytics, data showed Tuesday. The planned spending reflects efforts by financial authorities to take deregulatory actions and cut red tape to [...]