Fintech Support
In order to encourage the development of the fintech industry and develop new financial services combined with fintech technology, KB Financial Group (Chairman Yoon Jong-kyoo) has decided to support investment to relevant companies and offer support programs for its growth linked with each of the affiliates.
To do that, the group will form a team in charge of the investment, comprised of 5 people, inside of KB Investment, and support the investment of 1.5 billion won (US$1.39 million) first to small and medium venture companies, which hold key technology and patents related to fintech.
In particular, the KB Financial Group will select four main investment fields of mobile payment and money transfer services, mobile financial security, mobile transactions and authentication system, and financial technology based on algorithm for data analysis and prediction, and back up the investment to the relevant companies for its stake and intellectual property rights.
KB Kookmin Bank is planning to review supporting loans for fintech businesses, supporting R&D environment utilizing underused space and offering platform for pilot test in computer systems through a newly-established team in charge of technology banking.