Big data analytics artificial intelligence (AI) corporation S2W announced on the 30th that it has formed a strategic partnership with fintech corporation Fino and consulting corporation Signet Partners to support the acceleration of AI transformation (AX) in the financial sector and the enhancement of information security.
The three corporations plan to collaborate on projects through this memorandum of understanding (MOU), including ▲ proof of concept (PoC) and joint proposals for AI security internalization AX concepts for financial institutions ▲ integration between abnormal transaction detection systems (FDS), authentication security, identity verification, and AI/security technologies ▲ development of AI-based credit risk management and customer fraud detection models, and △ planning of a joint platform for public institutions and local financial institutions.
Fino has been a fintech corporation that has specialized in building digital infrastructure for financial institutions over the past decade, including non-face-to-face collateral loans, refinancing platforms, and identity verification solutions. Based on its years of IT-based financial business know-how, it plans to provide fintech platforms for financial institutions and develop products integrating customer responses, financial-specific user interfaces (UI), and user experiences (UX).
Signet Partners is a consulting corporation that has collaborated with domestic and international corporations and public institutions in areas such as climate tech, environmental, social, and governance (ESG), security, and digital transformation (DX) strategies. Utilizing its extensive consulting expertise that spans both the private and public sectors, it will lead the joint business strategy among the three corporations, customer communication, and play a pivotal role in discovering new business opportunities and providing leads.
S2W will provide and operate AI/security solutions and technologies recognized for excellence by domestic and international government agencies, international organizations, and large corporations for the joint projects of the three corporations. Additionally, it aims to lead technology customization and maintenance while supporting the acceleration of AX in the financial sector and enhancing cybersecurity capabilities.
Bangsungjin, the CEO of Fino, noted, "We are now in an era where AI and security must be structurally embedded in platforms," adding, "We will work together to create tangible technological innovations that financial institutions can experience by combining S2W's AI/security technological prowess, recognized globally, with the actionable strategic consulting of Signet Partners."
Jang Heungsun, the CEO of Signet Partners, stated, "Financial institutions are facing a situation where they must simultaneously address the dual challenges of AX and cybersecurity," and emphasized that "the partnership of the three corporations signifies the launch of an executable AI innovation model where platforms, technologies, and strategies are integrated, rather than just a technical alliance."
Seo Sangdeok, the CEO of S2W, remarked, "In the AX era, it is essential to have the capability to not only fend off cyber threats but also to automate the detection and prediction of potential threats based on AI and proactively respond to asset protection," and added, "We will contribute to building a new financial innovation model based on AI by internalizing S2W's technology into Fino's fintech platform under the strategic support of Signet Partners."