Seoul City, Shinhan Bank, Shinhan Card, and Shinhan Investment Securities selected and announced 6 startups to develop financial innovation services on the 22nd through the '3rd Innovation Challenge: EXPANSION (Expansion) ', an open innovation program (open innovation) for promising fintech companies.
The selected company is △ iKUKA (child financial service management platform) △ Antock (enterprise data integration and analysis service based on AI and big data technology) These include 1 3 Hertz (price comparison platform), Tenfinger (curated content service), Lemon Tree (Edufintech service), and Telepix (satellite information service).
Antock is with Shinhan Bank, Ten Fingers collaborates with Shinhan Card and Telepix collaborates with Shinhan Investment Securities for 3 months each to commercialize financial services.
These startups were selected for the 'Renovation Challenge' held by Seoul City for the 3rd time this year. With support from 205 startups with innovative financial technology, 6 companies were selected for collaboration, breaking through the competition ratio of 34 to 1.
“Innovation” is a compound word of “fintech” and “open innovation,” and it is a fintech-specific open innovation hosted by the city and financial institutions to focus on fostering the fintech industry and discover prospective unicorn fintech companies that will lead the global financial market.
The city contested issues such as fintech, AI, digital marketing, big data, prop tech, alpha, MZ, senior-specific finance, payments, and automobile finance, and selected 6 startups to collaborate with each Shinhan Financial Group affiliate by evaluating collaborative business plans between startups and traditional financial companies.
These six companies develop and commercialize innovative financial technology for about 3 months with current departments related to Shinhan Bank, Shinhan Card, and Shinhan Investment Securities, and receive support from Seoul Fintech Lab and Shinhan Futures Lab's systematic fintech startup development and scale-up programs.
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