Smart Stamp Software Developer 12CM Partners South Korea’s Largest Search Engine Provider, Naver, to Launch Cloud-Powered Fintech Platform
by Omar Faridi
12CM (pronounced One-two-cee-em), the “smart” stamp software platform provider and a member company of the Born2Global Center, has partnered with Naver Business Platform (NBP).
12CM has reportedly been an active Born2Global Center member for the past couple of years.
Through the partnership, 12CM will work cooperatively with Naver (which is South Korea’s largest search engine provider), in order to launch a cloud-powered Fintech solution – which could potentially improve the local financial technology ecosystem and related services.
NBP an independent subsidiary firm of Naver Corporation. It focuses specifically on developing cloud-based IT infrastructure and services. Naver’s services also support LINE, the leading chat service in Japan, Taiwan, and Thailand.
The partnership between 12CM and NBP will see the Echoss Stamp developer’s Open API and Finance Microservice developed as a Fintech software-as-a-solution (SaaS), which may be used by local financial institutions.
These types of financial services normally require extensive security measures which have made it quite challenging to develop cloud-enabled services.
NBP is reportedly one of the first cloud operators in Korea to have received a satisfactory rating from the nation’s Financial Security Institute for infrastructure security.
Through the partnership, 12CM will be offering its service security level protocols, which have been developed after years of testing and R&D efforts.
Major financial service providers have already been offering remote services, including mobile apps and over-the-phone consultations. But migrating these services to the cloud will allow for faster implementation of more efficient service channels (for example, mobile web apps).
Sang Young Han, director at NBP, stated:
“[The] recent trend of ‘non face-to-face’ service is in a state of constant innovation and like financial institutions’ websites, the demand for convenient financial service via diverse cooperation channels is always increasing. NBP and 12CM are planning to provide a secure SaaS solution that emphasizes security and flexibility in financial services to the market as soon as possible.”
Jeong Gyoun Han, CEO at 12CM, remarked:
“For our initial loan service model, the whole process including security, identification, Open API integration, as well as certificate submission will be structured as a complete self-service. The SDK itself will also be provided in order for users to customize their own mobile web pages. For a smooth and successful launch, in addition to our alliance with NBP, we have also tapped UniFinTech Corp., a consulting company specialized in mobile commerce and IT.”