Discussing detailed tasks for digital finance innovation
Fintech fostering, platform financial support
<대한금융신문=박진혁 기자> The Financial Services Commission announced on the 28th that it had discussed activation of Untact Financial Services with the Industry and Innovation Division of the Financial Development Council on the 26th.
The core contents of the discussion were △Activation of Untact Financial Services △ Acceleration of Fintech Promotion △ Construction of Financial Infrastructure for Digital Innovation.
The Financial Services Commission plans to activate platform finance that provides services to small business owners by utilizing the capabilities of the platform, such as big data, for untact finance. In addition, the platform’s big data is actively used for financial services such as credit ratings, and data analysis can lead to services.
Non-face-to-face identification and authentication standards in the financial field that govern the requirements and procedures for identification required for online and mobile financial services are also established.
The government plans to apply various authentication methods for simple information inquiries and reliable authentication methods for transfer and withdrawal. For high-risk transactions such as loans and large funds transfers, it plans to strengthen security through multiple authentications.
It also provides a business environment suitable for the untact era. It is planning to rationalize the regulation of network separation in stages for tasks separated from customer information, such as building an IT infrastructure for financial companies and developing online and mobile services.
Related security guidelines such as telecommuting are also prepared so that financial business can be smoothly performed in an untact environment such as home and flexible work.
A digital sandbox will be introduced to foster the fintech industry. Through this, early fintech startups can verify the innovation and business feasibility of new ideas before full-scale commercialization.
The legal basis for promoting financial-IT convergence through fintech investments by financial companies and for comprehensively and systematically fostering the fintech industry will be laid. It is also planning to strengthen support for policy finance and private investment so that fintech companies can receive sufficient funding for each stage of growth.
For digital innovation, financial infrastructure construction is promoted. The system will be upgraded so that big data and AI (artificial intelligence) can be applied to finance.
In the future, data and test environments will be provided to small and medium-sized fintechs and financial companies to develop financial services using artificial intelligence. In addition, it is planning to prepare guidelines for AI operation in the financial field so that users can safely use financial services incorporating AI.
An official from the Financial Services Commission said, “It is important to ensure that various participants can participate in the platform financial market.”
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