South Korea\'s financial authorities expanded the scope of eased network separation rules for AI use to secondary financial institutions and electronic financial business operators. The number of firms to be selected rises to as many as 15, and eligibility thresholds are lowered. Selected institutions can use external AI and security SaaS after putting alternative controls in place. Industry expectations are mixed, with some firms cautious. Global fintech investment rose to $103.1 billion in the first half, with focus expected to shift to AI and financial infrastructure.

Cucon has set up an environment to use financial MyData at counselling counters in 52 nationwide branches of the Credit Recovery Commission. Cucon said on Sept. 7 it completed the commission’s project to introduce MyData in the financial sector, the first case of applying financial MyData in the public sector. The system allows identity verification, personal credit data transmission requests and financial information inquiries to be handled at once, reducing the burden of submitting documents.