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KB Kookmin Bank Signs MOUs to Cooperate with British Fintech Firms
Fintech Cooperation
KB Kookmin Bank Signs MOUs to Cooperate with British Fintech Firms
  • By Jung Suk-yee
  • July 27, 2016, 00:45
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KB Kookmin Bank’s MOU Signing Ceremony at the Fintech Demo Day in London.
KB Kookmin Bank’s MOU Signing Ceremony at the Fintech Demo Day in London.

 

KB Kookmin Bank said that it signed memorandum of understandings (MOU) to promote financial businesses related to blockchain and mobile certification with UK-based fintech firms, Circle UK and Trustonic, in a Fintech Demo Day sponsored by the Financial Services Commission at Level39, London on July 22.

The MOU was signed as a trilateral agreement in each of the two areas of blockchain and mobile certification: KB Kookmin Bank, Korean tech firm Coinplug, and Circle UK signed to cooperate in the former field while KB Kookmin Bank, Korean tech company ATsolutions, and Trustonic agreed to cooperate in the latter part.

Circle UK, which is a British fintech firm providing a mobile remittance service, has been expanding its footing in Europe by acquiring a license to handle electronic money in April this year for the first time in London and starting the services to transfer British pounds.

Trustonic, a British firm with ownership of core technologies related to TrustZone on smartphones, has been in partnership with mobile phone makers and telecommunications operators such as Samsung and SK Telecom.

“We are excited to work with the top tech companies in London, a hub of the fintech industry,” said an official from the South Korean bank, adding “KB Kookmin Bank will strive to provide our customers with new experience by adopting cutting edge technologies.”