JY Tech, a Korean fintech startup, signs a USD 250,000 research investment deal with Standard Chartered Bank during the 'Korean Fintech Open-day' held on July 22 at Level39, a startup center in London.
A range of innovative, financial services offered by Korean fintech companies has now officially launched in the U.K.
On July 22, the "Korean Fintech Open-day" was held at Level39 in Canary Wharf, one of Europe's top financial centers, where 13 Korean fintech startups showcased their latest services to some 150 British firms, IT specialists and other investors.
JY Tech, a startup that specializes in the development of mobility platforms, like the portable payment card printer that allows banks to issue cards from remote locations, signed an investment deal worth USD 250,000 with Standard Chartered Bank.
"The mobile card issuing technology developed by JY Tech has a lot of potential, especially when applied in developing countries that lack financial infrastructure," said Michael Gorriz, chief information officer (CIO) at Standard Chartered.
On the sidelines of the event, Everspin, a Korean startup that develops hacking prevention software for smartphones, signed a partnership agreement with Oracle, a world leader in database software. Meanwhile, Interpay, a firm that specializes in notarized authentication solutions for mobile financial services, landed a joint marketing deal with Trustonic and Intercede, two British companies that provide secure end points for local smartphone users.
Richard Parris, CEO of Intercede, said, "Interpay's biggest strength is its authentication platform, which has been perfected over many years through its widespread use in Korea's challenging mobile market."
Also at the conference, KEB Hana Bank and the Industrial Bank of Korea both laid the foundation to launch their foreign exchange remittance services in the U.K.
Chairman Yim Jong-yong of the Financial Services Commission delivers the opening speech at the 'Korean Fintech Open-day' on July 22 at Level39, one of London's major fintech startup centers.
In honor of the event, the Korean Financial Services Commission signed a memorandum of understanding with the British Financial Conduct Authority. The agreement outlines the sharing of information between the two countries in the fintech industry.
In his opening speech, Chairman Yim Jong-yong of the Financial Services Commission said, "Korea's fintech industry is growing at a rapid rate, with many innovative services being launched as we speak. If Korea, backed by its IT and speedy growth, works closely with the U.K., a leader in the fintech field, we could surely create a new model for financial innovation. I therefore look forward to our continued collaboration in the future."
Following the London fintech conference, the Financial Services Commission will be taking the event to the U.S. and China in the second half of this year.
By Lee Hana
Korea.net Staff Writer
Photos: Fintech Center
hlee10@korea.kr
Thirteen Korean fintech startups showcase their latest services in front of some 150 British firms, IT specialists and other investors, at the 'Korean Fintech Open-day' in London on July 22.
