Officials from Woori Financial Holding and representatives of 14 Dino Lab startups in the 4th phase are taking a commemorative photo.
Photo: Woori Financial Holding
There are also examples of expanding profits such as Korea Credit Data and InfoPlus by promoting business partnerships such as cooperation through Dino Lab
Woori Finance takes startups with new technologies as win-win partners and actively nurtures them. The goal is for affiliates and startups to grow together, centered around Woori Financial Holding.
In June of last year, Woori Finance recruited Dino Lab's 4th term companies and selected 14 companies. For a fair review, promising startups in various fields such as fintech, platform, prop tech, and ESG were selected based on evaluations from a total of 10 people, including external experts. Executives from Woori Financial Group also participated in the review and discovered promising companies with a focus on collaboration possibilities.
Dinolab is an abbreviation of Digital Innovation Lab, and it is a Woori Finance startup cooperation program that becomes the 'cradle' of digital innovation so that startups can grow into dinosaur companies. Major subsidiaries such as banks, cards, and capital are participating to promote cooperation with startups from finding promising companies to collaboration and strategic investment.
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Woori Finance sees startups not simply as banks, but as win-win partners across finance. As the financial environment is rapidly changing, I think securing new growth engines through finding future opportunities is a challenge for financial companies. It is a perception that financial companies and startups with a foundation can help each other grow and gain competitiveness by becoming win-win partners.
In fact, Woori Finance is strengthening its business cooperation and investment system for startups by establishing a group company fund centered around Woori Financial Capital in 2022 and incorporating 'Woori Venture Partners' as a subsidiary in March of last year.
Examples of collaboration continue to emerge. “Banff” technology, which collects real-time tire and road data and enables safe operation by preventing accidents, has been incorporated into Woori Bank's cash transport vehicles. “Elfin”, which is pioneering a new authentication area using smartphone location elements, is working with Woori FIS to eradicate cases of financial crimes that illegally attempt identity verification on prepaid phones.
“Antock” developed the “Hubble Database,” which computerizes the corporate ecosystem to analyze corporate data and provide it as a database - Examples include “Funble,” which provides innovative financial services by implementing a real estate fragment investment platform.
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