Snowflake announced on the 23rd that it signed a memorandum of understanding (MOU) with Koscom, a corporation specializing in IT infrastructure in the financial investment sector, on the 22nd to provide AI cloud-based data platform services.
The MOU was established to build a data platform infrastructure based on AI cloud in the financial investment sector. It aims to accelerate digital transformation for financial industry customers and support the establishment of competitiveness through the integration of Snowflake's AI Data Cloud and Koscom's Financial Cloud via technology and marketing collaboration on a unified platform.
Recently recognized as a leading AI corporation by various institutions, Snowflake plans to provide an AI cloud-based data platform optimized for the domestic financial sector through collaboration with Koscom, accelerating the adoption of digital new technologies in the industry. Financial sector clients are expected to enhance their competitiveness in the capital markets by quickly and flexibly integrating, sharing, and analyzing internal and external data based on a secure AI data platform, leading to robust data-driven decision-making and preparedness for the rapidly changing financial environment.
Choi Gi-young, head of Snowflake Korea, said, "I am pleased to collaborate with Koscom, which has played a pivotal role in the financial investment sector, to maximize the utilization of data in the financial industry and participate in financial cloud innovation. I hope Snowflake's AI cloud-based platform will accelerate the digital transformation of the domestic capital market and set a new standard for the financial industry."
Kim Seong-hwan, executive director of the Digital Business Unit at Koscom, noted, "This MOU will serve as an important stepping stone to lead financial innovation in the AI era. In the future, Koscom will continue to promote sustainable innovation so that customers can establish AI capabilities and conduct stable and effective business in the rapidly changing digital financial market."