Latest news with #BankX
Korea Herald
a day ago
- Business
- Korea Herald
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.'
Korea Herald
22-04-2025
- Business
- Korea Herald
TencentDB TDSQL Powers 60+ Banks' Year-End Financial Closings with Zero Errors
SHENZHEN, China, April 22, 2025 /PRNewswire/ -- "60+ financial institutions, zero errors! During the recent year-end financial closing operations, Tencent Cloud's '6T' integrated foundational software suite —including TDSQL database, Tencent Cloud Enterprise (TCE), TCS PaaS platform, TBDS big data platform, TencentOS, and Tencent Cloud TI Platform —safeguarded over 60 banks and large state-owned financial enterprises, enabling flawless execution of critical year-end tasks with 100% accuracy." "As the first state-owned major bank in China to fully transition to a distributed architecture, Bank X previously deployed Tencent Cloud's TDSQL database to power its full-scale core systems—including customer information, credit cards, and personal liabilities. In 2024, it conducted year-end financial closings on this distributed core system for the first time, facing exponentially higher workloads, complexity, and technical challenges than ever before. Throughout the process, Tencent Cloud ensured the bank's distributed core aced this critical year-end stress test." "Beyond the aforementioned state-owned major bank, over 60 banks leveraged Tencent Cloud's distributed database, private cloud, and big data platform technologies to efficiently complete year-end financial closings—executing nearly 1,000 pre-closing and year-end batch tasks per client with 100% timeliness. In recent years, Tencent Cloud has supported nearly 40 financial institutions, including Bank of China, Agricultural Bank of China, Ping An Bank, and Zhangjiagang Rural Commercial Bank, in transitioning their core systems to distributed architectures, solidifying the role of domestic technology in ensuring secure and stable operations for the financial sector." Thank you for your support, we will continue the good work in 2025.
