Hana Bank, Fintech New Business Idea Contest

[Asia Economy Reporter Kim Min-young] Hana Bank announced on the 12th that it will hold a New Biz Idea Contest to discover collaborative business models based on open APIs targeting fintech (finance + technology) startups.

This event was organized as part of a public-private cooperation program to support the growth of fintech startups and foster the fintech ecosystem by Hana Bank and the Seoul Metropolitan Government's 'Seoul Fintech Lab.' Previously, in July, Hana Bank and Seoul signed a business agreement to support the growth of fintech startups and their global expansion.

Any corporation or individual business owner can participate, and participating teams will discover new business services using open APIs and public data provided by Hana Bank.

Applications are accepted until the 30th, and teams will be selected through screening. The final four teams will be awarded based on project execution and evaluation conducted from the 7th to the 24th of next month.

The winning teams will receive prize money of 3 million KRW for the grand prize (1 team), 2 million KRW for the excellence award (1 team), and 1 million KRW for the merit award (2 teams), along with benefits such as consideration for business commercialization in collaboration with Hana Bank and additional points when selected for Seoul Fintech Lab and Hana Bank 1Q Agile Lab.

Yeom Jeong-ho, Head of Hana Bank’s Future Finance Group, stated, "Hana Bank operates an open platform to promote partnership businesses with partners from various industries," adding, "We will continue to strive for win-win collaboration with startups to find future partners who will build a new digital ecosystem together."

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