FinTech startup InfoPLUS aims for global growth with its financial API platform
Korean FinTech startup InfoPLUS, which operates the financial API platform InfoAPI, is exploring the possibilities of a global expansion. The startup has already successfully run in Vietnam, providing application programming interfaces (APIs) to financial companies to build building blocks for digital services. InfoPLUS aims to provide various fintech solutions globally that have proven to be successful in the Korean financial market.
InfoPLUS wants to simplify fintech services by acting as an intermediate ‘digital financial’ facilitator between banks and corporate/private customers. InfoPLUS’ APIs handle tasks such as scraping, extracting and aggregating individual financial information spread across different accounts related to money transfers and banking activities. InfoAPI operates services such as OpenBanking, CMS, Virtual account, Direct debit, Standing Order, Scraping, E – Payment, ERP (infoERP), BMS (infoCITY), Debit card, Payment solutions, Credit score, etc.
InfoAPI is an effective tool for banking and financial institutions as it can speed up processes. As the world moves towards a more cashless society, InfoAPI can help financial institutions retain and grow their customer base. It can save IT maintenance costs.
InfoPLUS launched services in Vietnam in 2018 and has provided automated banking services to connect with companies and individuals. The start-up receives its income through fees from the API services. InfoPLUS’ clients in Vietnam include state oil company PetroVietnam, and local Korean bank branches Woori Bank, Shinhan Bank and NongHyup Bank.
InfoPLUS founders CEO Kim Min Ho and CTO Kim Jong-woo have worked at Woori Bank’s Vietnam office for years and have experience from the banking industry in Southeast Asia. CSO Will Choi has run a fintech business in Vietnam and Cambodia before joining InfoPLUS.
The company aims to provide APIs to more banks and financial organizations in Vietnam and expand to other countries. The startup has won the top prize in the startup pitching competition D.Day, an event hosted by Korea’s largest non-profit foundation for startups, D.Camp. It is now looking for pre-Series A funding round to expand its fintech services in Vietnam and to enter P2P lending services.
Also read,
What are your thoughts?
+1
0
Vote up
+1
0
Clap
+1
0
Clap
+1
0
In fire
+1
0
Meh
+1
0
Clap
+1
0
