BOCA RATON, Fla., Sept. 13 (Korea Bizwire) — VERB, a mobile fintech company, announced today that their VERB app waitlist is officially open to the public and waitlist users will have a chance to win the 2017 VIP trip to THE BIG GAME MMXVII in Houston, Texas. VERB is set to launch the first mobile app that gamifies the US [...]
SEOUL, Sept. 2 (Korea Bizwire) – The head of South Korea’s financial watchdog on Friday called for local financial services firms to beef up security-related measures for their fast-developing fintech operations. “Responsible innovation is needed in the financial industry,” Financial Supervisory Service (FSS) Governor Zhin Woong-seob said in a forum hosted by the Korea Institute [...]
SEOUL, Aug. 30 (Korea Bizwire) – South Korea launched an “open platform” Tuesday to assist financial institutions in developing financial technology, called fintech, a government agency said, adding the system is the first of its kind in the world. It is designed to offer standardized financial transaction programs involving all major banks and securities firms [...]
SEOUL, July 1 (Korea Bizwire) – The Korean government is allowing some personal information to be used without an individual’s consent in ICT fields including big data, IoT (Internet of Things), and fintech (financial technology), as long as the information does not reveal the person’s identity. The Ministry of the Interior (MOI) announced on Thursday, June 30, [...]
SEOUL, May 30 (Korea Bizwire) – South Korea, aiming to become the hub of Asia’s financial technology (fintech) sector, signed a memorandum of understanding with France on Monday. The agreement included sharing related information and supporting each other’s fintech firms. A partnership with France, a core player in the eurozone economy, is seen as offering [...]
SEOUL, April 5 (Korea Bizwire) – While financial services companies exploring fintech systems were previously concentrated on payment settlement, they are now setting out in new fields, expanding their offerings to financial software or data analysis services. According to “The Rise of Fintech and Changes in the Financial Industry”, a report issued by the Hyundai [...]
SEOUL, Feb.1 (Korea Bizwire) – Data indicates that half of all Korean internet users plan to use O2O (Online to Offline) services related to everyday life, such as food delivery and booking accommodation services, as well as fintech services including simple payments and money transfers. On the other hand, users seem skeptical about using O2O [...]
SEOUL, Aug. 17 (Korea Bizwire) - Bank Wallet Kakao (Banka), the mobile financial service of KakaoTalk, will increase their charge and wire transfer limits during the next month. According to the Financial Supervisory Service (FSS), 17 domestic banks and the Korea Post have partnered with Banka. All 18 members of the alliance are rewriting the [...]
SEOUL, Aug. 4 (Korea Bizwire) – In the mega-hit movie “Minority Report,” buildings, shops and streets are full of electronic biometric systems that use red flashes and lights to scan the irises of all passers-by and identify them in order to send them custom-tailored services and advertisements. Before entering a security agency, Tom Cruise, who [...]
SEOUL, June 30 (Korea Bizwire) – BC Card has decided to open the source code for mobile card issuance to all financial firms and start-ups to contribute to the growth of the FinTech industry in Korea. The company has already spent some 30 billion won to develop the source code. The biggest payment processing company and local [...]