Difference between revisions of "1516T2g1 South Korea/Project Teams/Team 1/Companies"
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=== Business Model === | === Business Model === | ||
| + | Areas of focus: Cloud-based mortgage processing mobile application. | ||
| + | Philosophy: Sincerity and trust. “growing with employees and ultimately customers” | ||
| + | Strategy: Serving local banks. | ||
| + | Expansion plans: | ||
| + | * Took part in German Fintech consortium | ||
| + | * Aim to list in NASDAQ, Aim | ||
| + | * Program to collaborate banks, 100,000 cases using this loan platform | ||
| + | * Sell API to foreign companies, regulatory issues will be settled the foreign companies | ||
| − | + | Solution: | |
| + | [[File:Finotek-overview.jpg]] | ||
| + | |||
| + | Result: | ||
| + | * 78% reduce in fees | ||
| + | * 2-3 days process reduced to 30 minutes | ||
=== Learning Points === | === Learning Points === | ||
| + | |||
| + | * Kim Woo-Su, CEO of Finotek shared with us three core factors in building a great business: | ||
| + | # Have foresight; read more books, think and analyze with a logical mind | ||
| + | # Passion in people and building people; unite individual through same dream and goal | ||
| + | # Endurance; “the future will come at a time which we least expect”, so one must be prepared. They did not give up amidst the tough environment and risks for 8 years | ||
| + | |||
| + | * A great business should be founded upon sincerity and trust in every decision or transaction. | ||
| + | * Focus on the employees, the customers will naturally be taken care of. | ||
| + | * Be ambitious – Finotek’s passion drives strong ambition which they aim to IPO in NASDAQ and Aim in the near future. | ||
Revision as of 11:35, 1 May 2016
| Team 1 | Team 2 |
| About Us | Our Companies |
We researched and visited two companies 1) Rainist Co 2) Finotek
Contents
Rainist Co
Business Model
Areas of focus:
Learning Points
Finotek
Business Model
Areas of focus: Cloud-based mortgage processing mobile application. Philosophy: Sincerity and trust. “growing with employees and ultimately customers” Strategy: Serving local banks. Expansion plans:
- Took part in German Fintech consortium
- Aim to list in NASDAQ, Aim
- Program to collaborate banks, 100,000 cases using this loan platform
- Sell API to foreign companies, regulatory issues will be settled the foreign companies
Solution:
Result:
- 78% reduce in fees
- 2-3 days process reduced to 30 minutes
Learning Points
- Kim Woo-Su, CEO of Finotek shared with us three core factors in building a great business:
- Have foresight; read more books, think and analyze with a logical mind
- Passion in people and building people; unite individual through same dream and goal
- Endurance; “the future will come at a time which we least expect”, so one must be prepared. They did not give up amidst the tough environment and risks for 8 years
- A great business should be founded upon sincerity and trust in every decision or transaction.
- Focus on the employees, the customers will naturally be taken care of.
- Be ambitious – Finotek’s passion drives strong ambition which they aim to IPO in NASDAQ and Aim in the near future.
