KT and Shinhan Bank will promote full-fledged future financial DX business cooperation based on digital platform technologies such as AI, metaverse, NTF, robot, and big data, and enter the global market together.
KT announced on the 17th that it had signed a strategic partnership with Shinhan Bank for future growth DX business cooperation.
In particular, KT decided to acquire a stake in Shinhan Bank to have long-term execution capabilities in business cooperation. Considering that Shinhan Bank is an unlisted company, it will acquire a stake in Shinhan Holdings worth about 437.5 billion won (about 2.08%).
Shinhan Bank also acquired 14.3 million shares, equivalent to a 5.48% stake in KT. This is the amount that NTT Docomo acquired.
This means that each of them has formed a blood alliance through the acquisition of shares.
■ 23 business cooperation including financial DX and platform
Both companies have been pushing to discover new business items that combine KT’s digital platform capabilities with Shinhan Bank’s financial know-how. Through this cooperation, the 23 joint projects will accelerate in the areas of AI, metaverse, NFT, big data, and robots, centering on ▲Future Finance DX ▲Platform new business.
First, in the future finance DX field, it is expected to achieve market results by completing a differentiated business model based on KT’s AI capabilities such as data analysis and natural language processing (NLP) and Shinhan Bank’s financial data. big
There is a financial-specialized AICC as a target, and we plan to actively promote mid- to long-term cooperation such as the development of a language model that can enhance work productivity and customer convenience based on AI.
Shinhan Bank is already leading ‘DIGILOG’, a futuristic store where AI bankers respond to customers, and by adding innovative solutions such as KT’s AI, robot, and media wall to this, it will be upgraded to a new concept of futuristic store and completeness. is expected to increase
In addition, KT and Shinhan Bank will develop specialized telecommunication finance convergence services for small business owners based on big data. KT plans to develop and release an alternative credit evaluation model linked to the location data of the KT Jalnaga platform.
In addition, the two companies plan to provide lifestyle-related services through new platform businesses such as Metaverse. For example, by building the Metaverse Alliance, KT’s Metaverse platform is equipped with financial infrastructure to jointly issue distribution points for the metaverse platform of both companies, and it can expand the scope of customers’ activities, such as exchanging points in connection with the metaverse platform of an external partner.
In addition, we are considering building a differentiated real estate metaverse platform by combining KT’s commercial district information, and we are also planning a joint project to build a digital asset issuance and trading platform based on NFT.
Using KT’s blockchain technology, the two companies will jointly promote the electronic document business based on trust. In addition to the storage of electronic documents composed of unstructured data such as various types of electronic contracts, electronic certificates, and mobile electronic notices, it plans to discover specific business models in connection with the certified electronic document broker business.
■ Create SI fund to discover ventures and review global platform business
If successful reference is secured through various business cooperation like this, we will ultimately pursue a global platform business.
The plan is to build global competitiveness by combining the fintech capabilities of both companies with innovative technologies. In particular, a joint SI fund (strategic investment fund) will be established to promote investment and consulting for ventures with domestic and foreign technology.
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The two companies will then form a separate joint R&D TF to perform stable joint projects and discover additional cooperative tasks. It is planned to consist of KT’s professional engineers and Shinhan Bank’s financial infrastructure specialists, and based on this, additional services such as AICC engine development and voice authentication financial infrastructure development will be developed.
Park Jong-wook, head of KT’s business planning division, said, “We expect to introduce various financial DX models based on synergies with Korea’s top financial groups and largest digital platform companies. We will open a new paradigm of
