Enterple Co., Ltd. (hereinafter Enterple), a SyncTree service company providing backend no-code development solutions, announced that it has completed the supply of SyncTree for the development of core technologies to build KB Kookmin Bank's BaaS-type business platform.
In order to overcome high inflation and high interest rates triggered by the global financial and economic crisis, commercial banks are focusing on 'digital transformation' and 'platform capability enhancement.' In particular, 'BaaS (Bank as a Service),' meaning 'Bank as a Service,' has emerged as a key topic across the financial sector. Gartner also forecasted that 'BaaS will become mainstream in digital banking within two years.' Against this backdrop, Enterple collaborated on the development of core technologies for KB Kookmin Bank's BaaS-type business platform by supplying the backend no-code development solution, SyncTree.
Enterple strengthened the management functions of core technology elements related to the services built through technology internalization by commercializing existing corporate banking services of KB Kookmin Bank into BaaS services using various functional module blocks provided by SyncTree and the SyncTree RFC add-on, which converts KB Kookmin Bank’s legacy native code into functional module blocks. Additionally, some corporate banking services were combined and transformed through SyncTree to provide services easily and quickly to external institutions and companies.
Park Hyun-min, CEO of Enterple, said, “Recently, the financial sector’s demand for BaaS-type business has increased, and interest in aPaaS has grown, emphasizing the importance of building platforms that enable this.” He added, “KB Bank’s BaaS had concerns about development platforms such as securing business agility through internalization of core technology elements via cloud-native solutions, but we were able to solve this quickly and efficiently with SyncTree. I believe this project holds great significance. We will continue to cooperate to advance financial platforms.”
Meanwhile, Enterple developed SyncTree, a backend no-code development solution, with the goal of providing easy and reasonable solutions so that companies in various industries can focus on their business without worrying about the backend. It has contributed to successful digital transformation by solving backend issues for large financial/payment, IT/big tech, construction, healthcare, and overseas railway companies such as AIG, DL E&C, and Woowa Brothers. Notably, in 2021, KB Securities completed a large-scale BaaS build within six months using SyncTree, reducing costs of existing large-scale projects and accelerating digitalization.
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