Korea Securities Computer Corporation is partnering with Snowflake Korea, a cloud-based data platform company, to expand the use of financial data and activate generative artificial intelligence (AI) services.

On the 22nd of this month, Kim Seong-hwan, Executive Director of Koscom (right), and Choi Gi-young, CEO of Snowflake Korea, are taking a commemorative photo at the ceremony for the MOU for the partnership in the data platform and AI services held at the Koscom headquarters in Yeongdeungpo-gu, Seoul. /Courtesy of Koscom

Korea Securities Computer Corporation announced on the 23rd that it had signed a joint business partnership with Snowflake for the expansion of financial cloud-based data platforms and AI services at its headquarters in Yeongdeungpo-gu, Seoul, on the 22nd.

Through this partnership, Korea Securities Computer Corporation has established a foundation for expanding the market for data storage, analysis, sharing, and generative AI services using financial cloud and Snowflake platforms. Specifically, the two companies will collaborate across the entire business area in areas such as ▲ financial specialized service models and technologies ▲ joint sales and marketing ▲ business verification (PoC) and technical support for pilot construction of data platforms for financial companies.

In particular, Korea Securities Computer Corporation plans to create an environment where financial companies can easily integrate and process diverse data formats without worrying about cloud and data usage regulations. Moreover, the company aims to enhance convenience and productivity to apply the collected and analyzed data and generative AI service technologies to various tasks.

Snowflake will support financial companies in participating in the world's largest data transaction platform to generate new revenue through data sharing business models. Additionally, it plans to assist in more sophisticated business activities by utilizing third-party application programming interfaces (API) and applying various AI service technologies.

Kim Seong-hwan, executive director of the digital business division at Korea Securities Computer Corporation, said, “In the future, we will actively support domestic financial companies in expanding various financial-linked businesses utilizing data and AI.”