Korea Fintech Industry Association holds webinar on 'AML Strategy for Small and Medium Fintech Companies'

The Korea Fintech Industry Association (hereinafter referred to as the Association) held a webinar with the Asia Fintech Alliance (AFA) on the topic of ‘AML Strategies for SMEs.’

This webinar was held in collaboration with the Asia Fintech Alliance (AFA), which includes fintech associations from 14 Asian countries, and the association served as the host, presenting on the topic of 'AML Strategy for Small & Medium FinTechs.'

Mr. Park Man-seong, CEO of Octasolution, who was the main presenter, explained that RegTech-based approach in building anti-money laundering (AML) system is a way for small and medium-sized fintech companies to manage costs efficiently while complying with regulations. Mr. Park also shared successful AML project cases in Korea and introduced the effectiveness of regulatory technology.

Participants then discussed AML systems and financial regulatory trends in each country, and exchanged opinions on areas where fintech companies can collaborate with their core technologies. They agreed on the direction of increasing transparency in the Asian financial market and creating a sustainable fintech ecosystem.

“This webinar was an in-depth discussion of fintech policies and regulatory strategies among Asian countries, and provided insights for resolving key challenges faced by small and medium-sized fintech companies,” said Yoo-shin Jeong, president of the Digital Economy and Finance Research Institute. “I hope this opportunity will contribute to enhancing the competitiveness of Asian fintech companies,” he added.

Hong Dong-pyo, chairman of the Overseas Expansion Promotion Committee of the Korea Fintech Industry Association, said, “We hope that regular exchanges among the 14 AFA countries will lead to active cooperation between global fintech companies.”

“The Asian fintech industry is achieving diverse innovations that reflect the characteristics of each country, and these innovations are having a significant impact on the global digital finance market,” said Lee Keun-joo, chairman of the association. “If we can solve the regulatory and technological challenges faced by small and medium-sized fintech companies, Asia will be able to leap forward as a global fintech hub.”

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