Korea Fintech Industry Fintech Center Korea Yoo Shin

Korea Fintech Industry & Fintech Center Korea Yoo Shin Jung Chairman, Fintech Center Korea

I. Current state of Fintech in Korea

I. Current state of Fintech in Korea § Fin. Tech = Finance + Technology Fintech's potential to change the financial services landscape $9. 3 billion 2008 2. 7 times $24. 7 billion 2016 • Excellent Information Technology (IT) • Adapting quickly to new technology • Communication between IT companies and financial institutions • Deregulation Alibaba(中) Total Sales 201. 6 billion USD [7/30, 2015 ] 155. 5 billion USD 50. 6 billion USD Alibaba Samsung GM Electronics Internet Bank Mobile Banking • Security improvement for increased non-face-to-face transactions New trends of financial industry Increased demand for convenient financial services technology Fostering Fintech Industry → ‘Financial Reform’ through competition and innovation

I. Current state of Fintech in Korea § Four Steps to Fintech Activation Step 1. Step 2. 30~200 million won UK 100~500 million won US 500 million ~5 billion won Korea About 2~3 months 20 days Before After Step 3. Step 4. About 2 months 20 days Before After

I. Current state of Fintech in Korea mobile payment service ‘Samsung Pay’ Domestic trends in the use of easy-to-use mobile payment (day average) Using amount Payment 102 billion won Samsung Pay User Trends (ten thousand) 1000 0 3. 1 times 734 464 Users 사용자 2017 2018 33 billion won Number of usages 281 million Samsung Pay Monthly turnover 2. 8 times 1 million 2016 2017 1 trillion won Kakao Pay Naver Pay PAYCO 1. 13 trillion won (including remittance) 500 billion won 400 billion won Cumulati ve turnover 18 trillion won (Aug. 2017) undisclosed 12 trillion won (industry estimates) 4 trillion won accumul ation subscrib er 10 million subscribers (Mar. 2018) 20 million subscribers (Oct. 2017) 24 million subscribers (Oct. 2017) 7. 6 million subscribers (Apr. 2018) Note Aug. 2015 launched NFC, MST methods No. 1 market share Services 20 countries 2014 launched No. 1 monthly turnover Offline payment service launch (during May) No. 1 accumulation subscribers (190, 000) Secures online franchise Planning financial services with Mirae Asset Daewoo Secures 230, 000 online/offline franchise, will enter to coupon, meal ticket market in the first half of this year. • Korea : 11. 8 billion (2016) → 40 trillion won (2017) , increased 3 times but 2% of the card payment amount, inefficient & fragmented market • Global : China is recognized as the most powerful market for mobile payments in the world, about 7 trillion won in 2017 (about 80 times the US), Alipay users: 430 million(Pay. Pal users: 160 million)

I. Current state of Fintech in Korea P 2 P lending P 2 P Lending Overview Domestic P 2 P Finance: increases in cumulative loan amount (unit: billion won) Domestic P 2 P loan balance (* end of the month, Korea P 2 P Finance Association) P 2 P companies status (unit: hundred million won) 2017. 12 number of companies Monthly amount invested 183 165. 6 billion won 2018. 01 2018. 02 188 187. 6 billion won 210. 7 billion won Rate of return Default rate Insolvency rate 10. 2016 04. 2017 03. 2018 • • Cumulative loan amount 2. 8 trillion won (Korea P 2 P Finance Association) • • • Crisis management Know-how Stable management of overdue and insolvency Composition of various investment products Rapid growth in P 2 P lending 7. 52% increases from the previous month, Growing 23 times over a year and 10 months (Korea P 2 P Finance Association, member company February status report) Insolvency rate: long overdue over 3 months crowd institute Credit loan 19% Other collateral 21% 2. 8 trillion won Construc tion loan 34% Real estate collateral 26% • • Cumulative investment amount by P 2 P loan item Korea P 2 P Finance Association P 2 P Lending (Feb): 1. credit loan 399 billion won 2. Real estate collateral 546. 6 billion won 3. Real estate PF 704. 8 billion won 4. Other collateral 43. 1 billion won • Korea : 1. 34 trillion won, cumulative total of 2. 82 trillion won (2017), 60% of real estate-related loans are concerned • Global : Cumulative amount of 240 trillion won (China), 33 trillion won (US)

I. Current state of Fintech in Korea Internet bank Kakao. Bank Overview Kakao. Bank application downloads & users trends New Accounts Extending and receiving credit balance & Loan-deposit ratio trends Loan amount App Downloads Received amount loandeposit ratio Kakao. Bank key product and features Product Checking account Features Receiving (Deposit) a bank account that you can deposit/take money from at any time, earning 0. 1% a year Safebox Free installment savings Separate safety deposit box for storing reserves in a Kakao. Bank checking account, earning 1. 2% a year (max. 5 million won) A product that makes a good chunk of money by flexible saving for a fixed period of time (on one year maturity, when automatic transfer, 0. 2%point additional interest rate provided) Time deposit A deposit in a bank account that cannot be withdrawn before a set date or for which notice of withdrawal is required, earning 0. 1% a year, on one year maturity Product Features Extending (Loan) Savings loan Credit line Credit loan A simple small-amount credit line loan that can be applied to most employers, self-employed, housewives, etc. 3. 35% annual interest rate up to 3 million won A credit line loan for a good worker utilizing scrapping. Providing 2. 86% interest rate for a minimum of 150 million won Even if a customer do not visit, credit loan is available using scrapping etc. (cancellation fee waived) Providing 2. 86% interest rate for a minimum of 150 million won • Korea : Kakao. Bank 43. 5 million non-face-to-face accounts have opened in the 100 days since its launch (Customer-friendly UI UX, 100% Mobile Bank, Strong on authentication) • Global : China Alibaba (MYbank), Tencent (We. Bank) / US Charles Schwab / Japan Jibun Bank

I. Current state of Fintech in Korea Total number of funding attempts 607 2017 295 2016: 41% 2017: 49% 2018: 10% Crowdfunding Overview January 16 ~ April 18 Total number of success funding Cumulative Funding Successful 349 Companies 315 2017 2016: 32% 2017: 52% 2018: 15% 183 Total amount of success funding Funding success rate 54. 6 billion won 64% (average) 28 billion won Average Successful Amount 170 million won Total success amount 54. 8 billion won 84% 62% 17. 4 billion won 46% 9. 1 billion won 2016 2017 2018 <Crowdfunding status, Crowd. Net> 2016 2017 2018 Stabilization of Crowdfunding new funding source for small and medium-sized businesses/venture companies • Korea : Successful funding companies between January 2016~April 2018 (315), However, the total amount is only 54. 8 billion won • Global : US $2. 1 billion ($ 2. 3 trillion won) in 2017, China also growing rapidly with 5. 2 billion yuan (1 trillion won).

I. Current state of Fintech in Korea Robo-advisor Overview Korea’s Robo-advisor market size trends (unit: Robo-advisor Test-bed 5 months cumulative return (%) won) RA enterprise Type Direct customer asset management service, Fair competition through open test 2. 0 trillion 9. 7 Kiwoom Momentum 6. 3 QV Pension Portfolio 6. 2 87. 4 billion 2014 135. 7 billion 2015 210. 8 billion 2016 327. 2 billion 2017 508. 1 billion Investor 2018 Direct comparison and investment of various RAs that have proved validity and stability Roboadvisor Test -bed Regulator Finding improvement tasks as supervisors such as improper regulation on RA 6 KB Robo-Rider 5. 9 KODEX Robo-solution 01 5. 5 Daishin Robo-balance 5. 4 Kiwoom multi-asset 4. 4 KEB Hana_Craft Asset Allocation Alpha 4. 1 Samsung. POP Robo stock 3. 2 Kim. Robo Global 01 9. 1 Foreign December US stock solution 4. 3 Domestic 1. 0 trillion Return Data&Analytics FASST KOREA KFI I 77 1. 5 trillion 0. 5 trillion Algorithm ATOM Global Dynamic * 22 May 2017~ 26 Oct 2017 (Koscom) • Korea : As of March 2018, the remaining balance of 500 billion won, Growth potential is expected to reach 30 trillion won in 2025 • Global : US $ 300 billion (330 trillion won) in 2017, More than 150 operating companies (account for half of the global market) 2. 5

I. Current state of Fintech in Korea Insurance Korea Insur. Tech Overview e-insmarket’s total number of listed product status *( ) is rate of change, % Open(23 Nov 2015) Present(29 Jan 2018) Institution Insurance company registration (website) moving patterns *unit: thousands, () is composition ratio, % Car insurance Protection insurance Travel insurance Single indemnity insurance Online(CM) Other(TM) etc Pension insurance Savings Insurance *(Korea Life Insurance Association) Sales channel Product Development Time Key point General Insurance Association of Korea Nov 2015 Online insurance product price comparison, sales site open Korea Life Insurance Association Mirae Asset Life Dec 2016 Comparison of mobile finance, insurance open markets, sales site open Insurance Heungkuk Fire & Marine (Signed a strategic partnership with KT) Usage-based insurance(UBI) Jun 2016 product experience group is in operation Insurance DB Insurance (Signed a strategic partnership with SK) Usage-based insurance(UBI) Apr 2016 product called 'Smar. T-UBI Safety Driving special contract was introduced (Signed a strategic partnership with KT) Usage-based insurance(UBI) Mar 2016 product is introduced Meritz Fire & Marine Insurance Distribution/ Heungkuk Life Insurance Feb 2016 24 -hour online insurance and services available' has launched Sales Nov 2016 Launched Kakao. Talk-based Chatbot service Lina Life Insurance Prudential Life Insurance 40 ~ 50% automation of new underwriting business by combining FICO Dec 2015 technology company of Korea Advanced automatic Examination Underwiting System (AEUS) closer to AI Increased in efficiency by using big data for underwriting and to resolve Kyobo Life Insurance 　Aug 2015 claims AIA Korea (the real life Introduced smart underwriting system that enables customers to check in 　2013 real time company) Introduced a mobile app that can process claims service with smart 　Feb 2016 Lina Life Insurance device NH Property and Casualty Launch of insurance claim and traveler's insurance service through smart 　Dec 2015 device Insurance Samsung Life Insurance Underwriting Insurance Payment Management Apr 2016 Mirae Asset Life Started the insurance claim service through mobile device (300, 000 won 　Dec 2015 or less) Insurance Hanwha Life Insurance 　Nov 2015 Introduced 'Mobile Center App' for insurance claim service Construction of contract maintenance rate prediction system using Big 　May 2016 NH Life Insurance Data Marketing and Customer Tong Yang Life Insurance 　Apr 2016 Construction of contract maintenance rate prediction system using Big Data Management Hanwha Life Insurance 　Sep 2016 Established advanced customer management system using Big Data • Korea : started later than global companies, mainly non-life insurance (e. g. Usage-based insurance) / Aging population & Big data analysis health care insurance products ↑ • Global : ICT companies such as Google and Apple are actively promoting Healthcare Insuate. Tech / China Zhong An insurance (糖小�) is ranked # 1 in Global Fintech Competition

I. Current state of Fintech in Korea Impact § Expected effect of Fintech 34. 7 trillion * Active private environment composition by Fintech startups : KORFIN, Fintech Forum 6. 6 trillion ‘ 14 83 60 97 ’ 15 ‘ 14 ‘ 15 80 76 99 ‘ 16 ’ 12 ‘ 13 ’ 14 ’ 15 ‘ 16 ’ 15 ‘ 17 ‘ 16 18 46 67 ’ 14 24. 4 trillion 178 Transaction value (unit: trillion won) Number of transactions (unit: billions) ‘ 14 ‘ 13 14. 8 trillion 44 trillion (estimated) Jan’ 16~’ 17 Bank Card 13 Security Insurance

I. Current state of Fintech in Korea : cases § Baking (Simple Payment, Remittance) • 2016 1 st quarter 4. 5 million actual users, • May-16 • 1. 81 million actual transaction amount users 750 billion won 2017 1 st quarter 6. 4 million actual users, transaction amount 1 trillion 500 billion won • May-17 4. 93 million actual users 16 million (Simple Remittance) • Feb-15 released accumulated Simple remittance members service • • • Toss Kakao Pay Samsung Pay Naver Pay remittance amount over Apr-18 1 trillion, accumulated Monthly transaction scale increased as 1 trillion 130 billion won Dec-17 Monthly over 10 trillion • Developed simple remittance market with no certification • 2017 Simple payment daily transaction is about 102. 3 billion won (212% increased compared to 2016) • It is only 2% of personal card payment but has high growth potential

I. Current state of Fintech in Korea : cases § Banking (Internet Bank, P 2 P Lending) Lendit Kakaobank • Established in Jul-17 • Fast and high limited loan • • • Started CSS judgment for a loan in Apri-18 • The maximum limit 50 million • • Together Funding Released P 2 P finance service in May-15 • Established in Sep-15 Accumulated loan amount over • P 2 P financial online platform 114 billon won • As the industry’s first, No. 1 market share in personal accumulated amount of credit financing repayment over 100 billion won Only one company dealing 100% won, minimum annual interest personal loan among P 2 P financial rate 2. 86% companies • Accumulated lending amount over 160 billion won

I. Current state of Fintech in Korea : cases § Stock, Asset Management, Crowd Funding Dunamu (Stock) • The 1 st social trading service • For Stock ‘Stock. Plus for Kakao’ • For Asset Management ‘Dunamu • 2 million members joined Global ETF / Stock using ETN bond, commodity, currency, real • Crowd funding platform company established in May-12 • invested in various assets such as Stock market information service ‘Kakaostock’ – over • in Korea established in Jun-15 Investment Discretionary’ • (Crowd Funding) The 1 st Robo-advisor investment consulting based on Kakaotalk • Wadiz Quarterback Asset Management (Robo-advisor) No. 1 in crowd funding market (Market share rate 60% in Apr-18) • The number of investments estate participated in crowd funding is Risk management for market 4, 579 (90% of total investment) conditions

I. Current state of Fintech in Korea : cases § Insurance (Insurtech) • Release the 1 st • drive special contract) • High safety special contract • Leading safe driving · Over 250 k · monthly 20 k members joined • • • Repay a loan · Paying • Severance hospital insurance will be available customer can claim Will test ‘Kakaopay insurance by mobile certification’ as 1 st in industry • Will claim for insurance fee using mobile app remittance’ discount on fee • Applying insurance · loan using ‘Kakao money roadsmanship-related insurance (Smart-UBI Safe KB Insurance Kyobo Insurance Dongbu Insurance Released healthcare in Oct 17 • Will proceed insurtech sales based on AI in USA market AIA Insurance • Mobile app ‘Vitality’ Released ‘Vitality Cancer Insurance’ Measuring customers’ steps and discount insurance fee if they achieve 10, 000 point in 1 year ‘

II. 4 th Industrial Revolution and Financial Innovation

II. 4 th Industrial Revolution and Financial Innovation § Definition of 4 th Industrial Revolution Wikipedia Davos Forum

II. 4 th Industrial Revolution and Financial Innovation § Background of 4 th Industrial Revolution Big. Data. Construction Artificial. Intelligence Developmentof Internet · Mobile Optimized and Platform Cutting-edge Technique By using optimized technology based on ICT(Internet, Mobile), productivity has been dramatically improved not only for manufacturing business but also distribution industry which connects production and consumption

II. 4 th Industrial Revolution and Financial Innovation § Digital Platform Revolution+ infra-structure Technology Revolution The 3 rd Service Distribution Market Digital Market Import and Export Direct Buying & Direct Buying from Overseas WTO WTP Product Competitiveness : Price, Quality Fintech, Delivery Revolution Sharing O 2 O Industry Economy Activation Expansion Synergy between digital market and finance is important.

II. 4 th Industrial Revolution and Financial Innovation § Ubiquitous Structure in 4 th Industrial Revolution Era Supply Demand (Production) (Consumption) Side

II. 4 th Industrial Revolution and Financial Innovation § Opportunities and Threats 4 th Industrial Revolution Mobile Platform in Hand No Space-time Restriction Invisible Financial Serivce Optimization by Intelligence Information Technology Block Chain No Delivery Time Customized Mass Exclusion of Third & Production by Party Digital Speed-up A, B, C, D Disintermediation O 2 O and Sharing Economy →Falling Interest rates→ Reducing Fees → Digitalization → Fintech Progress Opportunity Threat Leverage Effect + Fusion Effect Fast Emergence of New Technology • expandability without time & space limitation • New opportunities for business by fusion with other industry Short Business Life-cycle • The risk of lagging behind if not going with main stream • Need new innovation engine continuously

II. 4 th Industrial Revolution and Financial Innovation § The Change of Financial Markets Bank · Payment · Remittance ▶ Simple payment & remittance service ▶ Expansion of non facial transactions such as internet · mobile banking ▶ The advent of service without certificate · P 2 P Lending ▶ Reduce risk and fraud by P 2 P transaction ▶ The advent of loan system using Blockchain · The Advent of Mobile Bank (Jul-17) (Apr-17) Capital Market · Crowd Funding ▶ Started in Jan-2016 ▶ 315 companies succeed in funding by Apr-2018. (Accumulated) ▶ Blockchain is applicable · Robo-advisor ▶ Assent management Service by algorithm and big data ▶ Rapid Growth immediately after financial crisis in 2008 ▶ Operating assets 500 billion won in Korea, Dec-17 ▶ Representative example) Wealth Front, Betterment Insurance Insur Technology · Big Data ▶ Analysis and application of customers’ health and activity level data for the accurate insurance fee · A. I (Artificial Intelligence) ▶ Development of customized insurance product (Calculating sex and age-specific insurance fee, analyzing risk level) ▶ Substitute person for computer to send an advice note 4차 산업혁명의 핵심기술의 A, B, C, D (A. I, Block Chain, Cloud Computing, Big Data)

III. Fusion with New Technology

III. Fusion with New Technology § Relaxation of Regulation in 2017~2018 Financial Regulation Testbed (03 -2017) • Using of No-Action Letter : Active interpretation for the new financial service • Trust Test by Financial Institution : Entrusting the right of using service to financial institution and demonstrating service operation • Authorized Agent : Demonstrating service operation of financial institution on the condition of meeting the requirements Big Date Regulation’s Relaxation (03 -2018) • Financial Big Data Activation : Introducing information process to be anonymous and a false name • Strengthen Competitiveness of Financial Data Industry : Promoting competitiveness of CB industry specialized in non-financial information • Simplification for a Consent Form of Using Information

III. Fusion with New Technology § 2018, the 1 st Year of Fusion with New Technology · Advent of Chatbot, Robo-advisor Chatter+ Robot Messenger s handle counseling Robot+ Advisor Automized Investment Consulting · Combined with other IT technology and will be used in support of decision making and personalized financial service · 20 th century is internet, and 21 st century is Blockchain · Relaxation of security risk from using Blockchain · Broker’s cost cutting · Can use for all fields of finance (Bank, stock, insurance) • Technology to extract value and analyze a large set of data • In Mar-8 Financial Services opened API (Application Programming Interface) to Fintech companies • Cloud is computing environment that multiple users are offered necessary IT source flexible from one system. • After cloud service became the main part of business, data storage is expected to increase fast, and many companies will open data center with the bigger storage equipment

III. Fusion with New Technology § A. I (Artificial Intelligence) Industrial Bank Woori Bank ‘Wibeebot’ (Chatbot) • Opened in Sep-17 as (IBK Mobile Asset Management) • • smart/internet banking counselling service Increased employees’ work efficiency • information (simple income report, card sales • system • ‘Smartbot’- Analyzed over 15, 000 type of 2 nd generation AI chatbot which can communicate with customers and stock pattern analyzing AI robots automatically notify management ‘Stock Alpha. Go’- AI chart and promising Offering foreign exchange, • (Stock Alpha. Go, Smartbot) secretary the 1 st in industry • Mobile management Samsung Insurance ‘Tabot’ (Chatbot) e. Best Invest&Securities analyze context • Handles various tasks (Checking insurance contract & loan, detail, estimated stocks, offers promising repayment, product additional tax) refund type and signal recommendation)

III. Fusion with New Technology § Big Data Financial Product Recommender (Personalized Service) Wooribank ‘Big. Eye’ (Business Consulting) • • Prediction and analysis of customer’s movement in platform • Transaction pattern change sensing · personalized service Analyzing banks’ internal KB Insurance Kiwoom Stock’Donuts’ (Type Recommender) • Predicting trend from (Created Data Analysis Dept) • Created Data analysis and external data from collecting · analyzing big Dept based on ‘agile’ in using big data analysis data of portal website 2018 as the 1 st in industry and machine learning search word, news, video and strived for big data • Poor business rating • Using enterprise-relevant analysis • information for credit review and follow-up management • Type recommender to • Introduced powerful big follow leading stock data analysis solution · AI type analysis by big data update, and offers data true client value

III. Fusion with New Technology § Blockchain, Cloud Trade Finance Blockchain (Trial application of Ethereum) Trade Finance Blockchain Korea Securities Depository (Unlisted Stock Payment Model Verification) • (Cloud Branch) • • • management service based ‘Automatic Insurance Payment’, ‘Smart Family Security · letter of credit issue & advantage of blockchaing Analysis System’ transaction forgery in unlisted stock payment Cost & time efficiency at wokr system Cloud application business capital Operating blockchain Looking for ways to take buying export proceeds bond • (Blockchain Insurtech) business of Po. C(in Junverification Forgery risk prevention of NH Bank Will start consulting 18 unlisted bonds model • Kyobo Insurance (CMS) • Online processing virtual bank branch • 80 % cost reduction of building server

<Blockchain> § What is Blockchain? • Prevention of forge and falsification • Exclusion of the 3 rd party Centralized Ledger vs Blockchain Ledger

<Blockchain> • Blockchain since the year 2009 • Public vs Private Blockchain since the year 2009 30

<Blockchain> § ICO와 IPO Comparison 자료 : Coinmarketcap

IV. Introduction of Fintech Center Korea

IV. Introduction of Fintech Center Korea Lack of understanding about finance Difficulty of cooperation & alliance with finance companies Fin. Tech Startup Lack of understanding about business (patent, law etc. ) Slow growth of Fin. Tech industry Financing difficulties (loan etc. ) Starting point of Fin. Tech ecosystem Establishing Fin. Tech Center Korea (30 Mar, 2015)

IV. Introduction of Fintech Center Korea Policy agencies(2) Securities companies(9) Banks(10) Insurance companies(10) Credit Card Companies(5) Domestic Allied agency(35) Associations / Related Institutes(12) Aboard Allied agency(13)

IV. Introduction of Fintech Center Korea 44 119 Demoday (28 times) 643 1 -on-1 Mentoring with Finance Company Consulting Prep entrep reneur Start up up

IV. Introduction of Fintech Center Korea Number of consultations for business sector Legal advice 9% 140 120 100 80 60 40 20 0 ur ity Se c 2016 2017 C Examine Business value 29% Fund raising 4% ET io at ic tif er /C ow Cr P/ P 2 2015 n S M nd d fu PF g in rm tfo e. P la nc na Fi Cu gn ei Fo r M -P ay m rre en nc y t. S er Tr vi an ce . . . Fin. Tech Open API 11% Patent consulting. ETC 3% 3% License of Efinance provider 4% Security consulting 4% Link to finance companies 33% PERCENTAGE OF SUPPORT REQUEST FEILD

IV. Introduction of Fintech Center Korea Disrecommend Dissatisfied Really satisfied So-so Recommend Satisfied

IV. Introduction of Fintech Center Korea Success Case 1 Prep entrepreneur → Successful startup 'Additpay’(Oct. , 2015) Nov. , 2015

IV. Introduction of Fintech Center Korea Case 2 Existing Fin. Tech startups→ Launching new services Success

IV. Introduction of Fintech Center Korea Case 3 Company Nation Gmoney Trans Overseas expansion of Korean Fin. Tech startups Contents Launching foreign exchange remittances service with Cambodian bank “Wing” Kosign Launching IT outsourcing business with Cambodian banks Scale. Chain Launching cloud platform business with Cambodian banks Cambodia Success Company Nation Interpay Contents Contracting joint marketing with Trustonic & Interced Offering global transfer service between Asia-Europe-Africa through alliance with Bit. Pesa (UK) Corbit Coin. Plug UK MOU with Circle UK for the development of blockchainbased international remittance & document forgery prevention solution Sendbird Launching alliance message service with Cambodian banks Sentbe Developing with Cryptopay & GBG GB-Philippine blockchain-based international remittance Lockin Company Launching alliance mobile App security service with Cambodian banks Streami Mo. U with Coinfloor and ZEN 9 for joint Blockchain research JYTech Developing debit card issuance/payment system for mobility platform & attracting investment from SC (250 thousand USD) AT Solutions Making TZ certification MOU with Trustonic(UK) Developing electronic document solution (OZ e-form) for mobility platform Paycock US Making payment infra network MOU with IDX (Guam) Entering into partnership with Oracle for joint research/marketing for overseas expansion Pop. Pay US Offering “Pop. Pay“ payment solution to merchandisers (e. g. , fast-food restaurant, food truck) in San Francisco Finotek US, Germany Singapore, UK Forcs Everspin KTB Solution UK US, Europe Residing at Level 39, Awarded grand prize at Citi Mobile Challenge Certification Making contract with Amazon. com for certification service, Establishing joint corporation with “Fintech Group”(Germany) (Dec 2016)

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