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FinTech Alliance SaaS Answer Marks Change in Korean Finance Market

NBP is a totally impartial subsidiary firm of Naver Company specializing in cloud IT infrastructure and companies (Naver being Korea’s largest search engine in addition to working LINE, the #1 chat service in Japan, Taiwan, and Thailand). The deal will see the Echoss Stamp developer’s Open API and Finance Microservice carried out in a FinTech SaaS answer aimed toward monetary establishments.

Historically, such monetary companies have required strict safety measures making cloud-based service improvement troublesome. The truth that cloud know-how makes use of all kinds of frameworks and open supply code implies that monetary establishments have discovered adoption of those applied sciences lower than ideally suited.

That being mentioned, NBP is the primary cloud operator within the S. Korean home market to obtain prime marks from the Monetary Safety Institute for infrastructure safety. 12CM itself shall be offering its service safety degree protocols, developed and examined over years of R&D and real-world purposes, to this collaborative partnership.

Massive monetary establishments already supply a wide range of distant companies, reminiscent of cellular apps and over-the-phone session. Nonetheless, shifting these to the cloud will permit not solely sooner implementation of totally new service channels (reminiscent of cellular internet apps) but in addition alliance service channels enabling cooperation. The collaboration between 12CM and NBP is slotted to offer a house within the cloud to accommodate these revolutionary new companies.

“Monetary establishment’s current development of ‘non face-to-face’ service is in a state of fixed innovation and like monetary establishment’s web sites, the demand for handy monetary service by way of various cooperation channels is all the time growing. NBP and 12CM are planning to offer a safe SaaS answer that emphasizes safety and suppleness in monetary companies to the market as quickly as potential,” mentioned Sang Younger Han, director of NBP.

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Jeong Gyoun Han, 12CM of CEO mentioned, “For our preliminary loan service model, the entire course of together with safety, identification, Open API integration, in addition to certificates submission shall be structured as an entire self-service. The SDK itself will even be supplied to ensure that customers to customise their very own cellular internet pages. For a easy and profitable launch, along with our alliance with NBP, we’ve additionally tapped UniFinTech Corp., a consulting firm specialised in cellular commerce and IT.”

It’s a truth that there’s a international development of increasingly software program corporations shifting onto the cloud, and whereas doing so adopting extra SaaS or different “as a service” enterprise fashions. This Fintech service alliance within the Korean home market marks the following step of cellular evolution within the finance IT trade, and we sit up for what it may imply for the way forward for Fintech.

For extra detailed info on 12CM, go to

Media contact
Nicholas Davidson
Account Supervisor, 12CM
[email protected]

Jina Lee
PR Supervisor, Born2Global Centre
[email protected] 

SOURCE Born2Global Centre

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Jung Min-seo


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