Bank of Korea: FinTech Companies Will Reshape Financial Industry
Non-financial technology companies with a growing expertise in FinTech (financial technology) will play a bigger role in shaping South Korea’s financial industry, according to the country’s central bank. In a recent report by the Bank of Korea, the central bank sees non-financial, technology-oriented companies to make a big splash in the country’s financial industry. “Nonfinancial institutions that have the technology will play a bigger role in business such as consumer banking, money transfers and transactions, investments and asset management that are currently mainly run by financial....
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