1516T2g1 South Korea/Project Teams/Team 1/Companies
Revision as of 11:37, 1 May 2016 by Kaixuan.ng.2013 (talk | contribs)
| 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 individuals 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.
