Financial Services Commission Announces Results of D-Testbed Pilot Project... 6 Teams Selected as Outstanding Cases
[Asia Economy Reporter Jin-ho Kim] The Financial Services Commission announced on the 23rd that it has selected a total of six teams as award-winning cases following the pilot project of the D(Digital)-Testbed to promote digital financial innovation and discover innovative finance.
The D-Testbed is a project that provides financial sector data and testing environments so that fintech startups and prospective entrepreneurs can verify the business feasibility of innovative technologies or ideas. A total of 20 teams conducted verification of their ideas over 11 weeks from September to December.
Based on the verification results, six teams were selected as award-winning cases.
For three themes, one grand prize winner and one excellence award winner were selected per theme. In the credit evaluation advancement category, the Risk Management Laboratory of Korea University Graduate School of Information Security won the grand prize, and Jisokseongjangso received the excellence award. For financial support for vulnerable groups, Roni F&E won the grand prize, and Pinevo was selected for the excellence award. In the free theme category, Nick Company won the grand prize, and Big Tech Plus received the excellence award.
The D-Testbed project is a data-driven support policy that collects large-scale financial sector data and applies it to concrete projects verifying the feasibility of ideas from fintech companies and startups. Next year, the D-Testbed will secure a budget of 429 million KRW and commence the project in the first half of the year.
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A Financial Services Commission official stated, "We will strengthen support such as mentoring and linkage with the financial regulatory sandbox system to ensure that the ideas of companies participating in the D-Testbed can lead to actual commercialization," adding, "We will continuously develop the D-Testbed system."
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