[Asia Economy Reporter Minji Lee] December & Company Asset Management, which operates Korea's first AI non-face-to-face discretionary investment service 'Fint,' announced on the 17th that the open banking service has transformed the paradigm of simple investment and driven the growth of the Fint app.
December & Company Asset Management completed electronic financial business registration in October last year, becoming the first asset management company to do so, and in December of the same year, it introduced open banking services to Fint, the first in the non-face-to-face discretionary investment industry.
Fint does not require users to separately launch bank or securities company apps for investment fund deposits and withdrawals. Users can simply link their financial accounts within the app and deposit or withdraw investment funds anytime they want. Additionally, a new concept of installment investment service is also available. Fint's recently launched 'Consistently Achieving Goals' service automatically deposits investment funds from a designated account linked via open banking for a set period to accumulate seed money toward a target amount.
Since the introduction of open banking, Fint's subscribers have rapidly grown by 1100% over the past year. In particular, customers have linked one to two or more financial accounts each, and the cumulative number of deposits and withdrawals has exceeded one million, showing active engagement in simple investment through open banking. Fint stated, "With Fint's unique service competitiveness as the industry's only customized AI investment and the synergy of open banking lowering the entry barrier to the service, we have recorded explosive results in a short period."
The number of open banking participating institutions is scheduled to expand further starting from the 22nd. In addition to the existing 18 banks linked with Fint, 23 new institutions including KB Securities, Daishin Securities, NongHyup Central Association, and Korea Post will be added, making a total of 41 institutions accessible through Fint open banking.
Jung In-young, CEO of December & Company Asset Management, said, "The introduction of open banking service, born as part of the government's digital financial innovation, has made Fint's one-stop simple investment possible, and the number of users is steadily increasing due to improved usability and convenience. We will continue to advance innovative fintech services suitable for the Fourth Industrial Revolution era."
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