KT, Webcash, and Geno Solution Strategically Step into Fintech Sector
Published2016.02.18 10:50
We plan to focus on building a fintech ecosystem.
Application of 'CMS (Cash Management System) Service' in the first half of the year
KT is setting out to discover business models for 'Fintech' (the combination of finance and information technology), which is considered a new growth engine for the future.
KT announced on the 17th that it signed a Memorandum of Understanding (MOU) for "Joint Promotion of Fintech Business Cooperation" with Webcash (www.webcash.co.kr) and Xenosolution (www.xenosolution.com), companies specializing in electronic financial solutions, at the KT Gwanghwamun building in Seoul to collaborate in the fields of telecommunications infrastructure and solutions.
Under this agreement, KT, which possesses the nation's top-tier ICT infrastructure, will partner with Webcash, a leading provider of financial solutions such as fintech, and Geno Solution, which has expertise in the convergence of the latest ICT technologies with financial services, to promote business growth in related fields through the development of fintech solutions and joint marketing.
The three companies plan to apply a cooperation model to the 'CMS (Cash Management System) service' sector in the first half of this year, and then expand the scope of cooperation to various fintech business sectors.
In addition, KT plans to use this business cooperation as an opportunity to expand strategic cooperative relationships with domestic software companies and strive to create an ecosystem for mutual growth in the convergence ICT market.
Lee Moon-hwan, KT Corporate Business"The division head said, 'We look forward to this partnership with Webcash and Geno Solution, which possess powerful financial solutions, serving as an opportunity to grow together in the fintech ICT market by further strengthening our mutual competitiveness.'"
Webcash CEO Yoon Wan-soo stated, “Through cooperation with KT, which possesses the nation’s best ICT infrastructure, big data, and IoT technology, we will be able to streamline our existing systems and easily expand our business scope in the fintech sector.”
관련뉴스
KT Ready for Commercialization of Technology to Improve LTE Download Speeds
KT announced on the 12th that it has completed commercialization preparations for '256QAM (Quadrature Amplitude Modulation) downlink' technology, which enhances LTE download speeds, by testing it on commercial network base stations and ensuring service can be utilized immediately upon terminal launch.
2016.02.12by 명세환 기자
KT, 세계최초 5G 올림픽 실현하고 선도한다.
KT는 2018년 평창동계올림픽을 세계최초 5G 올림픽으로 실현하고, 글로벌 5G 시대를 선도한다고 선언했다. KT는 15일 오전 서울 세종로 KT광화문빌딩 West에서 평창동계올림픽 조직위원회 관계자 및 평창동계올림픽 기술고문 등이 참석한 가운데 대회통신망 및 5G 올림픽 준비현황을 발표하고 ‘홀로그램 라이브’, ‘싱크뷰(Sync View)’ 등 실시간 5G 서비스를 선보였다.
2016.02.15by
The financial services industry is the most active in adopting hybrid cloud.
Nutanix announced the cloud adoption status and outlook for the financial services industry through its Enterprise Cloud Index report. According to a survey of current hybrid cloud adoption rates by industry, the financial services industry's hybrid cloud adoption rate was 21%, which was higher than the industry average of 18.5%. Financial services companies are facing the challenge of providing differentiated experiences to customers through methods such as leveraging emerging technologies like blockchain, while simultaneously simplifying operations.
2019.04.02by 이수민 기자
IBM Blockchain World Wire… Real-time global financial payment network expands to over 50 countries worldwide
IBM announced on the 19th the expansion of IBM Blockchain World Wire, a real-time global financial settlement network for financial institutions. World Wire was developed to accelerate and optimize foreign exchange transactions and cross-border payment and remittance speeds. Additionally, it integrates payment message transmission, clearing, and settlement procedures into a single network while supporting network participants in selecting various types of digital assets for settlement. Starting from the 19th, the payment service area will be expanded to 72 countries, including 47 global currencies and 44 financial endpoints. Busan Bank became the first domestic bank to join World Wire.
2019.03.19by 이수민 기자
MSIT and KISA to Achieve Transparent Donation Culture and Guarantee Reliability in Used Car Market via Blockchain
The Ministry of Science and ICT and the Korea Internet & Security Agency will launch a private-led national project for the first time this year to create an initial market for blockchain. This private-led national project, promoted as part of the Ministry of Science and ICT's blockchain development strategy, is an initiative that supports the development of blockchain services applicable to real-life use cases and facilitates early commercialization based on creative ideas from the private sector. Through an evaluation committee composed of private sector experts, three consortiums were selected as preferred negotiation partners after careful evaluation of feasibility and the degree of improvement through blockchain application. Following technology consultations and agreement execution in mid-March, a project worth a total of 8.7 billion won is scheduled to commence.
2019.03.04by 이수민 기자
