[Smart Finance Awards] Financial Services Commission: "Supporting Financial Digitalization and Regulatory Improvements to Back Systems"

Congratulatory Speech by Lee Myung-soon, Commissioner of the Financial Services Commission's Securities and Futures Commission

[Asia Economy Reporter Jihwan Park] Hello. I am Myungsoon Lee, a member of the Financial Services Commission’s Securities and Futures Commission. I would like to express my gratitude to President Eui-cheol Lee of Asia Economy for organizing this meaningful event to encourage the financial investment industry in providing more convenient services to customers. I also thank Chairman Soonseop Jung and the judging panel for their efforts in conducting a fair evaluation. Furthermore, I extend my congratulations to all the award recipients who have earned the honor through their excellent service.

We are truly in the era of digital finance, where finance and fintech (finance + technology) combine to drive innovation. As the trend of non-face-to-face interactions becomes widespread, significant changes and innovations are occurring throughout daily life, including financial transactions. It is expected that the role of securities firms leading innovation in the Mobile Trading System (MTS) sector will also undergo many changes.

Going forward, MTS needs to be redesigned focusing on the financial consumers’ experience and convenience, rather than merely improving by adding new menus or functions. Moreover, as the MTS ‘digital channel’ becomes a direct point of contact with customers, it should provide customized financial services tailored to investors’ preferences and objectives. As digital finance advances, supplier-centered service models tend to be neglected, and consumer empowerment will be further strengthened.

The government will also support the financial sector’s digitalization efforts and improve the regulatory framework to institutionally back these initiatives in line with the digital finance era. Once again, I congratulate Mirae Asset Securities on receiving the grand prize. Thank you.