"Discovering Promising IT Solutions"... SC First Bank Hosts Startup Demo Day

Applications accepted until July 1... Support for bank practical implementation and overseas expansion included

[Asia Economy Reporter Minwoo Lee] SC First Bank is hosting an event to discover startup companies with promising IT solutions for digital innovation.

SC First Bank announced on the 13th that it is recruiting participating companies for the '2022 SC First Bank Startup Demo Day' event until the 1st of next month. The purpose is to actively discover and nurture startups with promising IT solutions and to introduce models applicable to the bank's systems into actual operations among their excellent solutions.

This event involves domestic support organizations such as the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Fintech Industry Association, as well as overseas startup support organizations including SC Ventures, a venture capital under the Standard Chartered (SC) Group, the parent company of SC First Bank, and the global angel investor 'Antler Korea' as partner companies.

Proposals will be broadly accepted from specific topics related to SC First Bank's current issues such as ▲Artificial Intelligence Asset Management ▲Automated Credit Screening ▲Early Warning for Non-performing Loans ▲Big Data Platform ▲Metaverse (Extended Virtual World) Bank to free topics. Detailed recruitment announcements can be found on the SC First Bank website and the Fintech Bridge webpage.

SC First Bank plans to review the startup solutions submitted jointly with the business departments and partner company practitioners and select companies to participate in the Demo Day by mid-next month. The Demo Day will be held at the SC First Bank headquarters in Jongno-gu, Seoul, at the end of the same month. During the Demo Day, each startup company will introduce their solutions, demonstrate key functions, conduct Q&A sessions, and provide opportunities for industry exchange with event partners.

Solutions evaluated as highly applicable to banking operations during the Demo Day demonstrations will undergo a pilot test to verify effectiveness and will be sequentially introduced into the bank's operations. Furthermore, excellent startup companies will be supported in expanding overseas to countries under the SC Group such as Hong Kong and Singapore through cooperation with SC Ventures and partners, including direct and indirect capital investment and joint venture establishment, promoting practical partnerships.

Myoungkwan Ma, Head of the Information Systems Group (Vice President & CIO) at SC First Bank, said, "We will continue to discover and nurture capable startup companies through cooperation with partners and maintain steady collaboration with them. Since verified excellent companies will be provided with various growth opportunities such as actual business application, overseas expansion, and investment through partnerships, we look forward to active participation from many startups."

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