Remittance is the oldest part of finance. It was delivered by hand or by mail. After banks were created, remittance become exclusive. However, the banks’ threshold is high. From developing countries people move to developed countries to earn money, and then send it to their countries. Banks and many remittance companies fees are high. It goes so far as charging fees higher than developing countries’ daily wage.
MoneyTag, using IT technologies, will make an easy, fast, and secure international remittance service for unbanked people in developing countries.
Finger was established in 2001 for financial IT, smart banking (IBK bank) and corporation fund management(Shinhan Bank). Domestically, Finger has high competition for parts of the smart phone banking market such as company fund management and personal asset management.
Finger maintains a F1 team for strategy and ideas relating to Fintech. MoneyTag is the second independent company from the F1 team. FinTech Inc. is the first, and MoneyTag is the Second one.
Finger is the parent company of MoneyTag. MoneyTag is provided with various financial know-how and professional developers from Finger.
NH made a MOU with MoneyTag in Aug. 2015, and is a mentor to MoneyTag.
MoneyTag moved into NH bank’s Fintech innovation center and is supported by the NH bank.
unitas made a MOU relating to Risk & Compliance with MoneyTag in November 2015. MoneyTag provides global banking level R & C by using a unitas’ GLC lab solution.
FinTech Inc. is MoneyTag’s fellow subsidiary.
FinTech provides an innovative CSS (Credit Scoring System). Henceforth, MoneyTag will collaborate with FinTech Inc. and create an alternative Fintech business.