'Total Prize Money 60 Million Won and Commercialization Support'... Financial Services Commission Seeks D-Testbed Operators
Apply on the website by the 20th of next month
Selected participants to join the D-Testbed for 11 weeks
[Asia Economy Reporter Jin-ho Kim] The Financial Services Commission announced on the 27th that it is recruiting participants to test the feasibility of innovative fintech technologies and ideas through the D-Testbed.
The D-Testbed is the new name for the Digital Sandbox and refers to a pilot project where fintech startups and others simulate the business viability and feasibility of their ideas based on financial sector data.
The D-Testbed pilot project is open to anyone who wants to directly test their ideas, including fintech companies, individuals (Korean nationals), and teams (unlimited, such as university research labs and hobby groups). It operates in a total of three sessions: two designated tasks (financial support for vulnerable groups and advancement of credit evaluation) sessions and one free-topic session. A total of 20 participants will join the D-Testbed pilot project, including seven participants for each designated task and six for the free-topic session.
Participants can receive various data to use for idea verification, including data from financial-related institutions, private financial data (Mirae Asset Securities, Shinhan Bank, Woori Bank, KB Kookmin Card), and public financial data.
The operation period is 11 weeks from September 27 to December 10, following participant recruitment and selection. After the simulation test of ideas, the best and excellent cases for each session will be selected, and a total prize of 60 million KRW will be awarded. After the pilot project ends, commercialization of ideas can also be supported through the Korea Fintech Support Center and the financial regulatory sandbox system.
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Those wishing to participate can apply through the D-Testbed website from the 28th until the 20th of next month. Based on the application results, participants will be selected on September 9 after screening.
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