Webcash and NH Nonghyup to Build 'AI Banking'
Driving Financial Innovation with B2B Information Infrastructure
Full-Scale Preparation for Stablecoin Services
Business data platform company Cocone announced on July 4 that it is advancing its business portfolio as a partner for building next-generation financial services based on artificial intelligence (AI).
Cocone has agreed to provide the technical foundation for real-time information retrieval and integration in the "Generative AI-Based Next-Generation Banking Service" project, under a business agreement signed on July 2 between Webcash Group and NH Nonghyup Bank.
Cocone believes that the AI-based banking service to be introduced in the second half of the year has the potential to fundamentally transform the existing paradigm of the financial industry.
With the launch of corporate cash management services and internet banking systems equipped with AI agents, corporate clients will no longer need to navigate complex menus. For example, a simple natural language command such as "Show me this month's payroll details" will allow users to conveniently handle all financial tasks.
Cocone expects that conversational banking services will dramatically improve internal operational efficiency and user experience for corporate clients. In particular, the ability of AI systems to access accurate data is cited as a key factor for the success of the service.
Beyond simply providing data application programming interfaces (APIs), Cocone offers comprehensive payment services in a one-stop manner, including account-based easy payments, virtual accounts, withdrawal and deposit transfers, and ATM deposits and withdrawals.
By leveraging its real-time dedicated network, built in collaboration with more than 90 domestic financial institutions, and its experience in the payments business, Cocone helps corporate clients build reliable and stable financial systems.
Cocone's API infrastructure, developed over a long period, is expected to become even more valuable as the adoption of stablecoins expands.
To this end, Cocone revealed its ambition to play a key role in the stablecoin ecosystem through its offline infrastructure, which includes more than 2 million affiliated merchants and over 40,000 ATMs, the largest in Korea.
Cocone also announced that it is actively discussing strategic partnerships with major domestic and international stablecoin operators in the fields of payments and distribution. The company plans to gradually expand into the global payment and settlement market, using fintech hubs in Asia such as Singapore, Japan, and Indonesia as bases.
Kim Jonghyun, CEO of Cocone, stated, "We will create new value in the stablecoin ecosystem based on our unique assets?offline infrastructure and a network connecting financial institutions," adding, "By strengthening the two growth engines of 'AI finance' and digital assets, we aim to become a company that sets the standard for next-generation financial infrastructure."
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