Clinkers (CEO Seong-Kwon Seo), a fintech startup that operates the essential app for foreign settlement, 'glow', announced on the 23rd that it will join hands with Yesfuture (CEO Hyeon-Jae Lee), a visa and settlement integrated solution company, to advance its financial services for foreigners.
On the 18th, Clinkers signed a strategic memorandum of understanding (MOU) with Yes Future to "establish integrated financial, visa, and settlement services for international students and workers." This agreement aims to combine Clinkers' foreigner behavioral data with Yes Future's visa and administrative data to build a financial infrastructure for foreigners who are currently excluded from the domestic financial system.
The two companies will jointly develop fintech solutions, including: developing an alternative credit scoring system (ACSS) specifically for foreigners; introducing microcredit loans and non-bank pay-as-you-go (BNPL) payment systems; and providing onboarding financial services. The goal is to address the cash flow challenges faced by international students and workers initially settling in Korea through data-driven credit assessments.
Furthermore, by linking Clinkers' "glow" platform with Yesfuture's "VIVISA" service, we will establish an "Integrated Support System for Foreigner Settlement" usable by universities and local governments. This system will support the recruitment, settlement, and financial lives of foreigners within a single ecosystem.
Yes Future CEO Lee Hyeon-jae said, “For foreigners, the financial sector has a high barrier to entry, just like the Visa system,” and added, “By combining the data from both companies, we will provide a solution that seamlessly connects information and finance.”
“This agreement is an attempt to address the financial exclusion problem for foreigners using data technology,” said Seong-Kwon Seo, CEO of Clinkers. “Through Glow, we will provide necessary information and add reliable fintech services to enhance convenience.”
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