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Finance
Big Tech expands territory beyond payments into financial infrastructure
Fintech and Big Tech firms are expanding financial services beyond payments and transfers into identity verification, offline payments, venture capital and corporate finance. Toss, Kakao Pay and Naver Pay can use a government network to verify resident registration cards, strengthening non-face-to-face checks and fraud prevention. Naver Pay launched Npay Startup with the Financial Supervisory Service. Kakao Pay Securities secured an investment dealing licence. Financial groups are revamping second-half strategies as household lending rises and regulators review IT controls and network separation rules.
Finance
Post office insurance app enables Silson24 claims to simplify insurance payouts
Customers enrolled in post office indemnity insurance will be able to use the Silson24 service through the Post Office Insurance mobile application. The Ministry of Science and ICT\'s Korea Post said it will link Silson24, a service that simplifies indemnity insurance claims, with the app. Silson24 allows customers to claim payouts by having medical expense documents automatically sent to insurers without obtaining them from hospitals or pharmacies.
Finance
Post Office Insurance to upgrade AI-based insurance fraud detection system
Post Office Insurance will use AI to block insurance fraud in advance. The Ministry of Science and ICT’s Postal Service said it will 추진 an upgrade of its AI-based Insurance Fraud Detection System (IFDS) to respond more effectively to fraud. The project will build an integrated predictive model combining existing work rules with machine learning. It will also reflect operational know-how and cases from private insurers’ IFDS deployments.
