Datastreams participated in the ‘Vietnam-Korea Banking FORUM 2018’ held in Hanoi’s Central Bank on April 20th, introducing big data market trends and applications status of Korea’s financial industry and also its big data processing solutions and practices.
This event, which was co-hosted by the Vietnam Central Bank’s Association in cooperation with the Korea Software Industry Association (KOSA), the National IT Industry Promotion Agency (NIPA), and the ACI, concluded on a high note with an attendance of more than 100 officials from major banks in Vietnam, including CIO and other government and financial institutions.
TeraONE, the integrated big data platform that the company introduced on the same day, not only integrates various types of data ranging from structured, unstructured, and real-time IoT data, but it is also a one-stop platform that integrates standard information management, data standardization, quality control, and flow management. Based on its distributed memory, it can minimize the initial introduction cost to external solutions, thereby enabling high performance and high efficiency big data processing, while maintaining high quality data and improve analysis reliability. These points have attracted the attention of the locals.
In particular, K-bank, S-card, and H-insurance have attracted a great deal of interest from major Korean Financial Institutions. After the announcement, the Q&A session continued with lively discussions on ways to solve the problems faced by the Korean financial authorities and banks in relation to the introduction of digital banking, solutions to the problem of supplementing data privacy, and the maturity of blockchain technology.
In this regard, CEO Lee Young-sang said, “It is important to have a policy and legal system related to data.” He also explained the difficulties and measures to overcome the initial Fintech process at Korean financial institutions.
