Building BWN: Blue Whale X KB Financial Group
Tags: Bwx, Partnerships, Fintech, Blockchain, Blue Whale Global

MOU signing ceremony between Blue Whale Global and KB Financial Group at Korea Fintech Week 2019

Blue Whale Global and KB Financial Group, a top market leader in South Korea’s financial services sector, signed a Memorandum of Understanding (MOU) for the collaborative creation and development of KB Financial Group’s online-to-offline reservation and payment service platform, tentatively titled Liiv Place.

As the exclusive blockchain partner of KB Financial Group, Blue Whale Global will be in charge of developing the overall framework of the online-to-offline reservation and payment service, utilizing CLAYON, KB Financial Group’s existing cloud infrastructure platform under the partnership. It is expected that future phases of the collaboration may include potential development of a new payment solution that will be aligned with KB Financial Group’s current direct payments. Through this partnership, both companies will be in cooperation to jointly develop and promote the fintech service and drive new businesses related to the platform.

KB Financial Group and Blue Whale Global will also be collaborating on the marketing and promotional efforts of the launch of the new fintech service at the Korea Fintech Week 2019, where a demo version of the new Liiv Place platform will be made available at the KB Financial Group’s booth.

Held at Seoul Dongdaemun Design Plaza from 23 to 25 May 2019, Korea Fintech Week 2019 is organised by South Korea’s Financial Services Commission (FSC) and is the country’s first global fintech expo, aimed to vitalize the local fintech industry and support financial innovation. In efforts to explore new growth engines and support the development of fintech within the local financial industry, FSC aims to develop the event into an annual, major fintech event in Asia.

The expo covers five key objectives: global networking; fintech revitalisation; fintech investment expansion; employment creation; and public experiential diffusion. Hosted at the expo’s fintech-themed pavilion, participating fintech companies will promote services and conduct experiential programs based on the above-mentioned objectives. Other programs for participants and visitors will also include key personnel speeches; dialogues between different governmental bodies; international seminars; ideation competitions; and introductory events to fintech investments and sandbox models.

“Through this MOU, Blue Whale Global will actively cooperate with KB Financial Group for the successful launch of the Liiv Place platform. In the future, we want to provide tools and systems that enable individuals to create and secure unique market values within their own capabilities via convergence technology solutions and smart city platforms,” said Will Lee, CEO of Blue Whale Global.

Blue Whale Global has recently launched the beta testing phase for an exclusive game evaluation application for Samsung Electronics devices and commenced a partnership with Incheon Free Economic Zone Authority (IFEZ) to build and develop a blockchain collaboration hub at Songdo for research and development purposes. Through these partnerships, Blue Whale intends to provide convergence technology solutions based on blockchain technology to various economic entities, including individual businesses and small and medium enterprises.