Cooperation with Fintech Firms
The KB Financial Group announced on March 27 that the group selected two companies, "Gonggan Lab" and "Eight Byte", as the companies to be nurtured as fintech start-ups. As a result, KB Financial Group has cultivated a total of 22 fintech companies to provide customer services on various platforms operated by KB Financial Group affiliates.
KB Starter No. 21 “Gonggan Lab” is a company that developed “House Much,” a data-based real estate market price estimation system. House Much predicts and provides real-time forecasts of apartment, studio apartment and villa prices in the nation by using various prediction algorithms. KB Kookmin Bank plans to elevate the level of housing finance services about studio apartments and villas in addition to existing services about apartments by combining Gonggan Lab’s technology with the real estate information sector.
A software security token developed by KB Starter No. 22, “Eight Byte” can be operated with the app only and without a credit card, an financial authentication certificate and an OTP (One Time Password), and enables users to use highly secure financial transaction services with a PIN code (4-8 digits) only. KB Savings Bank signed a supply contract with “Eight Byte Co.,” started a full-scale development and will improve customer convenience in the security and authentication sector.
“The KB Financial Group will continue to discover start-ups with specialized technologies and ideas, and expand customized supports such as providing space for residents, partnering with external organizations, investment, and mentoring among others to empowering them to grow with KB,” KB Financial Group officials said.