<Photos provided by Woori Bank, MoneyToday, and Joseilbo>
[Reporter Cheonji Ilbo, Park Su-ran] This year, the financial authorities are actively promoting fintech support policies, putting forward “innovative finance” as a major challenge. In line with this, the financial sector is also expanding cooperation with fintech startups and moving forward as partners. Financial institutions operate a “fintech lab” to foster fintech startups and support infrastructure, investment, commercialization, and overseas expansion. According to the Korea Fintech Support Center, 353 startups were created as of 2018 through the financial company Fintech Lab.
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Woori Bank launched Dino Lab, a startup cooperation program in April. It is operated as an existing Webfintech Lab, which opened in August 2016, and a newly organized Developer Lab. In particular, Developer Lab is a test bed center that cooperates with Amazon Web Services to provide cloud development environments, financial APIs, and technical advice to companies participating in Dino Lab. Woori Bank selected 16 companies to reside in Dino Lab through a public offering in March. In the meantime, startups such as Korea Credit Data, Agen Global, Antock, Elfin, PayPal, and SoftLunch have gained a foothold for business expansion through Fintech Lab.
