AI fintech startup BankX joins government program for Silicon Valley expansion
South Korean fintech startup BankX said Wednesday that it has been selected to join the Global Market Expansion Program organized by the Ministry of SMEs and Startups, paving the way for its official entry into Silicon Valley.
GMEP is a government-backed initiative that supports AI- and big data-driven startups with comprehensive assistance for global expansion.
BankX is one of 20 startups selected for the Silicon Valley track, which provides full funding for business development, investor pitching and localization efforts.
The program will be executed by Silicon Valley-based accelerator Team of Wakers, which will offer tailored support to each participating startup.
BankX's key innovation is its AI-powered app PlayPlanet — a location-based 'benefits assistant' that helps consumers find nearby promotions from local merchants and recommends the most rewarding credit card at the point of purchase.
The startup says the app enables seamless payments via QR codes or barcodes, benefiting both users and small businesses.
'This is a crucial opportunity to validate our AI technology and gain traction in the US fintech market,' said BankX CEO Kim Seung-hoon. 'With full government support, we will actively pursue investor connections to fuel global expansion.'
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