Hana Bank Holds Online Awards Ceremony for 'Hana-Fintech New Business Idea Contest'

Total Prize Money of 7 Million KRW and Opportunity to Collaborate with Hana Bank Provided

Hana Bank held the "Hana·Fintech New Biz Idea Contest" online awards ceremony on the afternoon of the 5th at its Euljiro headquarters. Kwon Hyo-yong, Head of Hana Bank's Future Finance Division (right in the photo), and Ko Ho-hyun, Director of Seoul Fintech Lab (left in the photo), presented plaques and certificates to the winners remotely and took commemorative photos.

[Asia Economy Reporter Kangwook Cho] Hana Bank announced on the 6th that it held an online awards ceremony for the 'Hana·Fintech New Business Idea Contest' at its Euljiro headquarters.

This contest was an event to plan and actually implement new business ideas using open APIs and public data provided by Hana Bank, co-hosted with Seoul Fintech Lab.

Participating teams developed API-linked services and submitted prototypes over two weeks starting from the 7th of last month. Judges, composed of API business and startup investment experts from Hana Bank and Seoul Fintech Lab, conducted evaluations comprehensively based on 'innovation, feasibility, growth potential, and technical validity.'

Due to the spread of the novel coronavirus infection (COVID-19), the entire process from the contest briefing to presentations and Q&A was conducted contactlessly. After the final evaluation, four teams were awarded: Grand Prize to Buen Camino (prize money of 3 million KRW), Excellence Award to Whatsup (2 million KRW), and Merit Awards to Cake Labs (1 million KRW) and Food Note Service (1 million KRW).

The winning teams received prize money along with benefits such as business commercialization review in collaboration with Hana Bank, and additional points when selected for Seoul Fintech Lab and Hana Bank OneQ Agile Lab.

A representative from Hana Bank's Future Finance Headquarters stated, "We received fresh and innovative ideas across various business areas such as asset management, payments, subscription services, proptech, artificial intelligence (AI), and big data," 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.