The Korea Herald

ssg
소아쌤

KB Financial nurtures fintech start-ups

By Korea Herald

Published : Aug. 3, 2016 - 15:46

    • Link copied

KB Financial Group has geared up to coordinate with rising fintech start-ups to take the industry mainstream.

KB Financial launched “KB Starters Valley” in March to offer all-in-one package of services to promising start-ups, which include working space, mentoring service, funding and partnership with the financial group.

Representatives from KB Financial Group and Cambodia’s Canadia Bank pose at am MOU signing ceremony in June. (KB Financial) Representatives from KB Financial Group and Cambodia’s Canadia Bank pose at am MOU signing ceremony in June. (KB Financial)

The start-ups, or KB Starters, prove their business values by selling themselves on a crowdfunding platform. If raised money meets its goal, KB Financial will invest the equivalent sum of money to the start-ups, group officials said.

The proven ventures also cherish opportunities to partner with the nation’s leading financial group. The projects range from online-to-offline and security to solution provision. Through KB Starter Valley, the start-ups can even go into Southeast Asian market to co-work with local information technology corporates.

KB Financial signed a memorandum of understanding in mid-June with several local banks to introduce fintech based banking service to Cambodia.

The group official said the start-up nurturing plan is a “win-win game“ to both sides as venture firms need project experiences with large companies while others need to adopt the cutting edge fintech solution to provide high-tech banking services.

By Song Ji-won (jiwon.song@heraldcorp.com)