Demonstrations by 7 Promising Startups... SC Jeil Bank Startup Demo Day Held

Future Consideration of Bank System Implementation

At the 2022 SC First Bank Startup Demo Day held on the 29th of last month at the SC First Bank headquarters in Jongno-gu, Seoul, Ma Young-kwan (fourth from the left), Head of the Information Systems Group (Vice President·CIO) of SC First Bank, and representatives from participating startups are posing for a photo.
(Photo by SC First Bank)

[Asia Economy Reporter Minwoo Lee] SC First Bank held an event to demonstrate key services of promising startups and communicate with stakeholders.

SC First Bank announced on the 1st that it held the 'SC First Bank Startup Demo Day' event at its headquarters in Jongno-gu, Seoul on the 29th of last month.

This event was held with the purpose of actively discovering and nurturing promising IT solution startups, while applying their excellent solutions to the bank's system to promote system advancement. Applications were accepted since June, and seven startups were finally selected to demonstrate at the event.

The selected startups are ▲HyperScience ▲Fides Advisory ▲Quantec ▲DeepBrain AI ▲FacePayPak ▲Antoc ▲TwoDigit. They introduced their companies and showcased various solutions during the event.

Specifically, the solutions introduced included ▲intelligent automated document processing to respond to incomplete sales (HyperScience) ▲corporate insolvency diagnosis solution based on unstructured data and big data (Fides Advisory) ▲digital private banker (PB) and robo-advisor based market data analysis and asset management system (Quantec) ▲digital human (virtual human) platform non-face-to-face customer service applying AI and voice synthesis technology (DeepBrain AI) ▲facial recognition solution to strengthen non-face-to-face identity verification (FacePayPak) ▲corporate analysis/evaluation solution through big data automatic collection and AI algorithms (Antoc) ▲AI customized news recommendation service based on individual financial preference analysis (TwoDigit).

Meanwhile, the event was attended not only by decision-makers and practitioners from various business departments of SC First Bank but also by 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 Antler Korea, a global angel investor.

SC First Bank plans to review the phased introduction of solutions demonstrated at the event that are evaluated to have high applicability to banking operations after undergoing a feasibility verification process. Furthermore, for outstanding startup companies, the bank will promote practical partnerships such as overseas expansion to SC Group countries including Hong Kong and Singapore, direct and indirect capital investment, and joint venture establishment in cooperation with SC Ventures and partners.

Ma Young-kwan, Head of the Information Systems Group (Vice President & CIO) at SC First Bank, said, "We will continue to strive to provide various growth opportunities such as actual business application, overseas expansion, and investment through partnerships with diverse IT startups."

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