[Asia Economy Reporter Park Sun-mi] The Financial Services Commission (FSC) held four sessions introducing innovative financial services from promising overseas fintech companies to domestic fintech firms.
According to the FSC on the 4th, non-face-to-face briefings on services provided by 51 fintech companies from 19 countries including the United States, the United Kingdom, and Australia were held on January 20, February 3, February 17, and March 3.
A total of 1,140 fintech companies and individuals participated, with presentations covering various sectors such as banking and loans, payment settlements, capital markets and asset management, and insurance. Research fellows Lee Seong-bok and Kim Min-gi from the Korea Capital Market Institute presented and introduced various overseas cases.
There were also explanations on whether domestic fintech companies need to obtain internet-only bank licenses like Kakao Bank to operate digital banking businesses, what the customer requirements and trends are regarding asset management systems of overseas specialized investment firms, and what major challenges must be overcome to introduce overseas financial service cases domestically in connection with regulatory relaxation and MyData.
An FSC official stated, "This year, after researching various innovative financial service cases worldwide through research projects, we plan to hold the second overseas innovative financial service case briefing early next year via online video."
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