Fintech Birth

 

The global mobile payment company Danal announced on June 24 that it will found an Internet bank.

The company, Korea’s first fintech company, has led the mobile payment business, which is a combination of mobile and financial services. Also, Danal plans to establish Internet banks by using its experiences of 15 years in big data in order to improve the convenience of financial consumers.

An official from Danal said, “Combining payment operation experiences at home and abroad, we are considering the way to establish a bank that can tap into the global market.”

Currently, Dana has nearly 16,000 online partners and 18,000 offline partners at home. Considering the fact that the domestic payment volume is expected to reach 2 trillion won (US$1.8 billion) this year, the company plans to not only secure financial consumers but also found a systematic and stable Internet bank based on years of its expertise and technologies.

Meanwhile, Danal has recently formed an alliance with China's Tencent and is expanding its business there. Also, the company signed a contract with Europe’s large mobile network operator Orange to provide mobile identity and authentication services. Danal has carried out payment businesses in global markets, including the U.S., Europe and China, for years.

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