Upstage, Partnering With Kb Kookmin Bank To Help Advance Ai Financial Services
2021/03/25UPSTAGE SIGNS A STRATEGIC PARTNERSHIP WITH KB KOOKMIN BANK FOR AI TECHNOLOGY DEVELOPMENT
HELP AI TRANSFORMATION IN THE FINANCIAL SECTOR BASED ON EXPERTISE IN AI FIELDS SUCH AS COMPUTER VISION, NATURAL LANGUAGE PROCESSING, AND RECOMMENDATION SYSTEMS
CONSULTATION ON AI SOLUTIONS IN VARIOUS FIELDS OTHER THAN FINANCE
(Upstage = 2021/03/25 ) Upstage (CEO Kim Seong-hoon), a startup that helps companies transform AI (artificial intelligence), enters into a strategic partnership with KB Kookmin Bank to build AI services in the financial sector.
ON THE 25TH, UPSTAGE CEO KIM SEONG-HOON AND KB KOOKMIN BANK TECH GROUP VICE PRESIDENT YUN JIN-SOO PROMISED OVERALL TECHNICAL COOPERATION THROUGH THE CORE CAPABILITIES OF THE TWO COMPANIES THROUGH A NON-FACE-TO-FACE SIGNING CEREMONY HELD AT EACH COMPANY BUILDING. THE EVENT WAS PREPARED TO STRENGTHEN THE AI TECHNOLOGY COMPETITIVENESS OF COMPANIES AS THE TRANSITION TO NON-FACE-TO-FACE SERVICES IN THE FINANCIAL INDUSTRY ACCELERATES.
UPSTAGE WILL INTRODUCE ADVANCED AI TECHNOLOGIES SUCH AS AI VIRTUAL COUNSELING SERVICE FOR KB KOOKMIN BANK'S AI TRANSFORMATION. THE MAIN CONTENTS OF THE BUSINESS AGREEMENT ARE ▲DIAGNOSIS OF KB KOOKMIN BANK AI STATUS ▲INTERNALIZATION OF FINANCE-SPECIFIC AI TECHNOLOGY ▲DEVELOPMENT OF AI TECHNOLOGY ENGINE SPECIALIZED FOR KB KOOKMIN BANK ▲DESIGN OF KB KOOKMIN BANK’S MID- TO LONG-TERM AI TECHNOLOGY BLUEPRINT.
CURRENTLY, UPSTAGE IS BUILDING A NON-FACE-TO-FACE AI SERVICE THAT CAN BE APPLIED DIRECTLY TO THE FINANCIAL BUSINESS BASED ON THE EXPERTISE OF ITS AI DEVELOPMENT TALENT. IN FACT, UPSTAGE HAS MANY DEVELOPMENT AND BUSINESS LEADERS WHO HAVE EXPERIENCE OPERATING ACTUAL AI SERVICES AT GLOBAL IT COMPANIES SUCH AS NAVER, KAKAO, NVIDIA, AND EBAY.
CEO KIM SEONG-HOON, WHO FOUNDED UPSTAGE, IS A FORMER NAVER CLOVA AI LEADER AND IS ALSO A PROFESSOR AT THE HONG KONG UNIVERSITY OF SCIENCE AND TECHNOLOGY. CTO LEE HWAL-SEOK, WHO SERVED AS THE FORMER HEAD OF VISUAL AI AT NAVER CLOVER, IS ALSO ACTIVE IN UPSTAGE. IN PARTICULAR, UPSTAGE HAS A LARGE NUMBER OF COMPUTER VISION, NLP (NATURAL LANGUAGE PROCESSING), AND RECOMMENDATION SYSTEM EXPERTS, AND IS RECOGNIZED FOR ITS HIGH TECHNOLOGY IN RELATED FIELDS.
BASED ON THIS EXPERTISE, UPSTAGE IS NEGOTIATING FOR AI TRANSFORMATION WITH COMPANIES IN VARIOUS FIELDS AS WELL AS FINANCE.
AN OFFICIAL FROM KB KOOKMIN BANK SAID, “IN A SITUATION WHERE COMPETITION IS INTENSIFYING DUE TO THE FULL-FLEDGED ENTRY OF LARGE PLATFORM OPERATORS INTO THE FINANCIAL INDUSTRY, WE HAVE ENTERED INTO THIS STRATEGIC PARTNERSHIP TO BRING ABOUT INNOVATION IN TECHNOLOGY IN THE FINANCIAL SECTOR THROUGH THE INTERNALIZATION OF KB KOOKMIN BANK’S OWN AI TECHNOLOGY.” IN THE FUTURE, WE PLAN TO BUILD OUR OWN AI ROAD LAB WITH UPSTAGE TO ADVANCE AI TECHNOLOGY SPECIALIZED FOR KB KOOKMIN BANK.”
SEONGHOON KIM, CEO OF UPSTAGE, SAID, “WE ARE DELIGHTED THAT UPSTAGE, WHICH HELPS COMPANIES WITH AI TRANSFORMATION, HAS SIGNED AN AI TECHNOLOGY AGREEMENT WITH LEADING BANK KB KOOKMIN BANK.” WE WILL ESTABLISH OURSELVES AS A LEADING COMPANY.”
MEANWHILE, UPSTAGE ALSO ESTABLISHED A HONG KONG BRANCH IN DECEMBER OF LAST YEAR TO ABSORB NOT ONLY DOMESTIC BUT ALSO FOREIGN AI TALENT. IT PLANS TO PROVIDE AI SOLUTIONS TO MORE DIVERSE COMPANIES BY RECRUITING AI TALENT.
ATTACHMENT 1: PHOTO OF KB KOOKMIN BANK-UPSTAGE PARTNERSHIP AGREEMENT
Contact
Upstage | Geun-Kyo Kim PR Director | 010-8229-7240 | keunkyo@upstage.ai
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Founded in October 2020, Upstage identifies areas that can be innovated through AI technology among corporate problems and provides consulting including basic AI model and system construction required for this. In addition, by supporting the nurturing of AI talents within customer companies, it will help companies with successful AI transformation by improving their own AI competitiveness. Furthermore, the company plans to actively design AI teams by nurturing differentiated professional talents who can be immediately put into AI business through hands-on training that melts AI business experience and solid AI basic training.
CEO Seong-Hoon Kim developed Kachine, an early search engine in Korea, and co-founded Nara Vision, Inc. Since then, while serving as a professor at Hong Kong University of Science and Technology, he won the ACM Sigsoft Distinguished Paper Award 4 times, the best paper award, for research on bug prediction and automatic source code generation that converges software engineering and machine learning. He is a world-class scholar in software engineering and AI, winning influential thesis awards. He is also widely known as a deep learning instructor for everyone, which has recorded more than 6 million views in total.
Upstage's co-founders include CTO Lee Hal-seok, who led Naver Visual AI / OCR and achieved global results, and CSO Park Eun-jung, who led the model team of Papago, the world's best translator.