○ Total financial solution private SNS platform based on securities
AVEapp, a FinTech company, is a private SNS platform company established in September 2014. The startup focused on linking needs between information providers (securities firms, stock experts, etc.) and individual investors by utilizing SNS platforms specialized in finance. Until now, information providers have been burdened with costs in quickly identifying customers' needs and promoting and operating products in digital financial markets that are changing from time to time. Individual investors also want a total financial platform service that can solve not only information retrieval but also account opening, consultation and investment in one place. AVEapp dug into this point. Starting with the development of Hana Financial Investment's SNS trading system "Candleman" that combines stock information and SNS in 2015, the company has been carrying out platform business for many years, including the launch of Hana Members' Hana Talk service the following year and the development of Stock Investment's Susuro-talk in 2018.
Above all, AVEapp's flagship service is "MoeME," a financial networking service centered on securities services, which is set to be officially launched in July. MoeME, which has been undergoing beta testing since April last year, is a service that a single application collects investment information channels operated by securities firms and securities experts. Investors can receive useful information in real time and participate in separate chat rooms by subscribing to the information provider's channel they want. Institutions that provide investors with information can pay MoeME for opening a channel and recruit customers. It is also possible to sell paid information through channels. "MoeME's service is a private SNS in the financial sector, and it has strengthened the speed, accuracy, and safety of information delivery," said Lee Sung-rock, co-Leader of AVEapp. "Because it is a subscription system, it is also a strong point to significantly lower the cost burden of services."
○ The stock-based corporate messenger market, where are the survival potentials?
Recently, BigTech (BigTech, a large IT company based on Internet platforms) such as Kakao and Naver are accelerating their entry into the securities industry. Kakao Pay's acquisition of Baro Investment & Securities passed a Securities and Futures Commission meeting, and Naver is also coordinating the timing of the acquisition of securities firms. The possibility cannot be ruled out that this could put pressure on large securities firms' stock trading systems, MTS and HTS. This is because it has an advantage in terms of accessibility and benefits.
As of last year, the number of Kakao Talk users reached nearly 50 million. In other words, the company can directly sell customized financial products to consumers who will flow from the huge messenger platform called Kakao Talk. Therefore, start-up AveApp should compete as a financial investment service platform with its own technology apart from giants such as Kakao and Naver. In addition, it will take time and money for the MoMi service, which will be officially launched in July, to gain trust in the industry and become common, so it remains to be seen what performance AbeApp will show in sales in addition to product development. Lee said, "It is not that financial institutions have never drawn services like MoeME. However, in order to this to be possible, we need to understand the high level of technology and detailed business," he said. "AVEapp has already checked product technology and customer requirements through service tests at leading financial institutions in Korea, including Japan's financial information service company QUICK." We expect sales of 4 billion won in the short term and 20 to 30 billion won in the long term.
○ Meeting between a Veteran financial marketer and a messenger developer
Co-Leader Lee is a veteran financial marketer with a lot of experience in the securities industry. Starting with Daewoo Securities' computer planning director in 1990, Dongwon Securities took charge of e-business and marketing as a director, and later moved to Japan to serve as managing director of Maruhachi Securities and vice president of CSK Securities Services.
If Lee read the mechanism of the securities industry and jumped into the market, co-chairman Kim Won-seok contributed a lot to implementing AVEapp's services. Co-chairman Kim has been developing stock exchange systems, developing new businesses and marketing in DMI, Sherpa, AdApp, EGINIX, MeetingSoft and Brenix.
AVEapp has eight co-representatives, including Kim Min-soo, director of development of service technical experts, and Son Cheol-won, director of service operation experts. AVEApp's annual sales are around 1 billion won, and no investment has been made yet. Local branches and corporate companies are established in Japan and Vietnam, respectively, and the company plans to start promoting and operating services in earnest from the second half of this year.
Source: FinTech Startup Report (https://0pen-up.tistory.com/13)