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[INTERVIEW] A new rising fintech app service : The Financial Design
                  

Let’s explore the importance of security in the financial industry with The Financial Consulting, the financial platform that designs assets.


Q : Please tell me briefly about yourself.

A : Hi, I’m Sin-young Kang, a CEO of The Financial Consulting.
We provide personal asset management service called ‘financial design’.


Q : Please explain about the mobile app service you are working with currently.

A : In short, we design our client’s personal assets.
The word design in the sentence does not only include our vision to consult financial and numerical assets but also to provide professional consulting service regarding their lifestyles.
We have a wide variety of services, including investment, insurance, taxes, year-end settlement, and inheritance as well as gift and real estate.
It's basically a financial consulting service that's paid for.

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Q: What is the best part of your mobile app service?

A : The strength of our app service is that it is easy to look up and self-manage financial assets by using ARS authentication without a public certificate.
In addition, it helps customers manage their finances easily and conveniently through functions such as setting financial goals, receiving financial instrument interest rate guidance, sharing asset status with either your husband or wife, and foreigner service.


Q : Personally, I think it is a must service for myself to use as soon as this interview is over. Is there a specific function that has the most positive feedback from the clients?

A : The function 'financial calendar' is very responsive. This service provides the sum of money flow including transfers and deposit transactions that occurred on that day.
They say it's very convenient because you can see the contents at a glance without having extra work to calculate or go through your each different banking account. Some say it makes them to check their financial status every day.
They wrap up the day by "Oh, I\'ve overspent today on food" or, "Tomorrow, I\'m going to have to save some more from this part of the expense." (Laughs)


Q : Could you share your tips only for LIAPP for those who have no idea where to start their asset management?

A : It is important to identify the appropriate financial management style depending on your propensity as well as situation.
To do this, we offer a service called 'Exploration of Your Financial Propensity.''
We question you such as “Do you want to have a 100 million won cash account and a 50 million won loan or a 50 million won cash without a loan?”

The more you know about the customer, the more you can recommend the right financial products for him/her.

The second important part is to set specific goals. Once you experience the feeling of accomplishment and fulfillment after achieving a goal, it creates a virtuous cycle of setting new goals again. I apologize for me keep showing off our app but there is one feature that let you set financial goals.
For example, a customer named A has a plan that says, ‘I will definitely switch to a car named B in three years.' Then, if you connect your banking accounts to our app, we propose you a financial design based on the actual customer's shares and banking products, along with the required balance, and the achievement rate.
Sometimes it hurts because it's so realistic. (laughs)

Q : I'm sure you've met a variety of customers while running the Financial Design service. Can you tell me one of the most memorable episodes?^^

A : Our service can be interconnected with family members or lovers. There was an incident when a customer has registered six 50-million-won account books in the name of himself and his wife. There's a policy called the Depositor Protection Act, which protects 50 million won per account at each financial company. I realized he would be a person who are very familiar with finance. I remember myself thinking that I am very proud that even people with deep financial knowledge to use our service.

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Q : I assume some hardships while running the business?

A : With no doubt, it was the most challenge to prepare for my business, especially in the process of programming the service. I'm from an insurance company, a stock firm but never had any experience in mobile app development. I knew that this was my service and I am the founder. In other words, it was my role to communicate with the developers with a clear direction and right feedback. Yet, I was hardly able to understand their words. To make matters worse, it took me more than a month to pass the Security Review of Korea Financial Telecommunications and Clearings Institute. Security was not in the realm of developers. During the chaos, fortunately, I met LIAPP. If I think about it now, I could say, it was a meaningful process that made myself now. (laughs).

Q : . Have you ever experienced a case desperate for security? If so, was LIAPP helpful in dealing with the issue?

A : Due to the nature of our financial industry, a strong security system is essential to secure customer information. Service can be started only after passing security inspection by Korea Financial Telecommunications and Clearings Institute and Koscom. While I was facing the difficulty of passing the inspection, I happened to know about LIAPP through an introduction from an acquaintance. We could successfully launch our app service by virtue of LIAPP.

Q : As an actual user, what do you think is the biggest advantage of LIAAP?

A : It's called 'cost-effectiveness' or 'cost-to-benefit-ratio' these days, right? (laughs) If you try LIAPP, you will be grateful that you can use a wide range of security services at such a reasonable price. Plus, LIAPP differentiates from other services that even non-programmers like me can understand and use the system easily. It's a service that you can confidently recommend to anyone who runs mobile app services.

LIAPP can be easily used even by non-specialists, so it can be confidently recommended to anyone who runs app services.


Q : Q: How do you expect the future of app security service industry?

A : There will be more web and app services coming out in the future, but although security is usually very important to start-ups, it's often too high-priced to pay for. A lot of developers can't afford their time and resources to consider security either. If small and medium-sized businesses can solve their security issues through LIAPP, they will be able to create an environment where they focus more on service delivery itself. I strongly believe security will become a more essential and important area over time. As a huge fan of LIAPP, I hope that LIAPP becomes a service with more variety of security systems and services in the near future.



LIAPP, always rooting for the success of innovative services.









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