South Korea is on the verge of a Fintech revolution and 2018 looks to be a very important year. The issue will be in regards to the role cryptocurrencies will play in the financial sector. The ongoing evolution of blockchain-based services could really disrupt the Fintech space. Korean banks are starting to come around to the use of digital currency.
More and more Korean Fintech startups are emerging. There is news nearly every week about Korean banks such as Shinhan or Woori incorporating blockchain technology into their financial services. Banks, in general, are emerging as support systems for the Fintech community.
Korean Fintech startups are starting to take notice and are now in the driver’s seat. Here are some of the Fintech startups in Korea to watch for in 2018. Maybe by next year, they will be big as Viva Republica which provides the simplest P2P mobile payments platform in Korea or DAYLI Financial Group a leading Fintech company in Asia providing data tech solutions, digital wealth management, and lead-generation services.
Korean Fintech Startup bitHolla’s cryptocurrency trading terminal XRayTrade was made for professional traders as well as financial businesses. What makes XRayTrade so interesting is that it is fully customizable. Also, it provides a consistent user interface for trading across multiple exchanges.
Korean Fintech startup AIZEN automates Big Data analysis and provides a model that updates and learns in real-time. Therefore, this allows for businesses to make the best decisions is a fast and efficient manner, leading to new revenue streams. In addition, AIZEN solutions use machine learning, machine reasoning, deep learning, and predictive modeling to provide the best financial solutions.
Korean Fintech startup Moin is here to solve this problem. It is a company that focuses solely on remittance. Furthermore, it does not burden customers with high commission rate. Remittance takes less than a day and can be done online. Every information you put in is safely protected in a blockchain system.
Korean Fintech startup PayPerse collects and analyzes a customer’s detail behavioral data on payments in real time on the same existing mobile payment UX. In addition, it provides a hyper-personalized and hyper-relevant data service to customers.
Korean Fintech startup Fount runs Bluewhale. It is a robo-advisor engine that comes up with the best mix of your asset using financial data analysis technology and asset distribution theory.
Furthermore, through observing the financial market, regarding the changes in the market, it readjusts the asset distribution strategically. Simply to say, Bluewhale filters data, sees asset clusters, selects asset, weight allocations, make a portfolio and rebalances it regarding circumstances. Datasets manage everything.
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