Stock Service Platform
Korea Securities Depository is now seeking to innovate its information and technology (IT) service in order to jump into a leading total stock service provider in the world. The state-run company announced on September 25 that it is continuously upgrading its total stock service platform called “SAFE+.”
To this end, Korea Securities Depository set up top three strategic projects to strengthen protection of investors’ rights, innovate infrastructure in the financial market and export Korea’s IT technologies.
First of all, the company has introduced the system of electronic proxy solicitation and voting right for asset management companies, and expanded its electronics service systems through the electronics short-term bond platform, bracing for the era of electronic stock.
It also established “retirement pension platform” and started the service as part of its effort to improve infrastructure in the financial market. The platform is receiving good reviews that it solved the problems of product exchanges by providing standardized regulations among financial sectors such as banks, securities and insurances, and increased the predictability of business process by launching a cut-off time. In addition, Korea Securities Depository signed a support agreement with 10 captech firms, a combined word of capital and technology, such as Uberple and Think Pool, creating the captech ecosystem. Previously, the company won a US$51 million (56.56 billion won) contract to establish Indonesia’s new fund system (NFS) in cooperation with the nation’s Central Securities Depository (KSEI) and began the development project in June 2015. It is the country’s first contract to export a fund platform.
Starting from March, Korea Securities Depository has released “ISA-Net” service which helps financial companies to deal with business related to newly introduced individual savings account (ISA) system. The system automatically supports business process between financial firms such as financial product trade in order to manage the assets of ISA members.
In particular, the company is focusing on developing and introducing the latest IT technology. In July, it participated in a global “Hyperledger” blockchain project as a member in a bid to acquire a blockchain source technology and develop business models. Korea Securities Depository is now considering carrying out a proof of concept (PoC) project to confirm the possibility of capital market back office improvement and new service development by using the blockchain technology.