[Sponsored Report] KB expects win-win via investmentIn recognition of the recent fintech trend, funds worth 15 billion won ($13 million) are to be dedicated to support small and medium-sized enterprises with core fintech technologies and patents. Corporations with expertise in mobile payment and transfer systems, financial security, transaction and verification systems, and algorithm-based financial services for data analysis will be prioritized.
In support of this initiative, KB Financial’s bank subsidiary, KB Kookmin Bank, recently established a dedicated fintech department. The team of experts will oversee loans for companies investing in fintech, help to improve R&D capabilities and provide a platform for data processing systems.
KB Financial will also create the KB Fintech Hub Center, which will help corporations seeking to partner with KB. Registration at the center will lead to an automatic review of the company’s portfolio by an advisor, who will then arrange consultation with the appropriate affiliate, helping companies with fintech expertise expand more easily.
“Essentially, KB supporting fintech will lead to a win-win situation,” said a company official. “For stakeholders in the internet communication technology sector, they get a chance at making real progress in business. For our clients, the revolution of fintech will bring about ultimate convenience.”
with the Korea JoongAng Daily
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