DGB Financial Selects 7 Fintech Startups... Supports Development of Financial Services

[Asia Economy Reporter Kim Min-young] DGB Financial Group announced on the 14th that it has selected seven startups for the 2nd batch of its startup support program, Fium Lab.

The name ‘FIUM’ in Fium Lab combines the ‘F’ from Fintech and the ‘I’ from Innovation, meaning ‘to blossom fintech innovation (Fium).’ To lead digital finance in the 4th industrial era, the program recruited its first batch last year and collaborated with them, and in February this year, it recruited the 2nd batch of companies for one month.

The recruitment process was divided into two tracks: the ‘Incubator Track’ for early-stage startups and the ‘Open Innovation Track’ for existing startups aiming to develop new financial services or models. About 50 startups applied. Through a fierce competition including document screening and non-face-to-face in-depth interviews, three companies focused on nurturing in the Incubator Track and four companies focused on collaboration in the Open Innovation Track were finally selected.

The three companies selected for the Incubator Track?Dive, Moms Lab, and To Use?will be provided with free office space on the 5th floor of the DGB Daegu Bank 2nd Headquarters and will undergo a customized accelerating program for about six months. In particular, through continuous exchanges with local startup support organizations and startups being nurtured in other programs in the Daegu area, they plan to establish various networking programs to serve as a foothold for creating a local startup ecosystem and generate synergy.

The four companies selected for the Open Innovation Track are Buen Camino, Sugar Mong, Trigger Partners, and Hatch Labs. These four companies will be assigned dedicated partnership personnel from the practical departments of DGB Financial affiliates, and various support such as innovative service development using Open APIs will be provided.

Kim Tae-oh, Chairman of DGB Financial, stated, “We will strive to develop convenient and innovative financial services that enrich startups, DGB Financial, and customers alike.”

This content was produced with the assistance of AI translation services.