Partnership with Fintech
The KB Financial Group is establishing a “KB Fintech Hub Center” in order to partner with fintech businesses and build a systematic support system for start-ups.
Once the center is established, companies that want to partner with KB don’t have to visit its banks and credit card companies individually, but can simply make a request to the center. Then, employees of the center will discuss the partnership process with the relevant subsidiary after a review. The center will allow fintech companies to improve accessibility and expand business models through partnerships with many subsidiaries.
The center will also focus on a support program for fintech start-ups. When businesses that have technology but lack funds request support, the center will provide financial support, including investments and loans, through internal review. The center will also provide non-financial support, including offering space for research and development and the test environment.
Also, the KB Financial Group will run separate remittance, payment and settlement, loans, and asset management departments for the fintech industry. The executives of these departments will hold meetings often in order to make quick financial decisions.
Therefore, constant and prompt actions on common issues, such as authentication services and partnership, will become possible.
An official from the KB Financial Group said, “KB already provided remittance services using e-mails and cellphones for the first time in Korea 15 years ago. Based on our strengths, including the development experience of information technology and a high security standard, we can realize a customer-centered smart KB.”