Waiker, an artificial intelligence (AI) global stock market data startup, has entered into a business partnership with LSEG Refinitiv, aiming to revolutionize the SaaS paradigm in the global financial data market.
Refinitiv, acquired by the London Stock Exchange Group (LSEG) for approximately $27 billion in 2021, stands as one of the world’s largest global financial data and information companies, alongside Bloomberg. Currently, with approximately 20,000 employees, the company consolidates, analyzes, combines, and processes various financial data, providing information services to over 40,000 financial institutions and recording an annual revenue of around $6.25 billion.
Waiker, a domestic AI stock market data startup, has been providing customized services to stock market data-demanding companies with exceptional UX/UI, which has been considered a chronic issue in the stock market data industry regarding data collection, construction, and usability. The company aspires to innovate customers’ global stock market data experiences through this approach.
Both companies will collaborate to maximize the competitiveness of integrated services, embarking on service development for global stock data market digital transformation (DT), Software as a Service (SaaS), and AI utilization demand strategies, as well as sales utilizing LSEG Refinitiv’s world’s largest financial institutional network.
Kim Seok-jun, CEO of Refinitiv Korea, stated, “Waiker has been achieving noteworthy accomplishments both domestically and internationally by uniquely processing data of over 70,000 listed stocks of 12 nations.” He added, “Waiker’s real-time stock market data processing technology by its proprietary AI technology is already receiving attention and proving its global potential through the world’s first case of analyzing disclosures of US-listed companies and platform implementation technologies. We anticipate co-innovation in the data industry, which is the most fundamental and ultimate asset in finance.”
Elvin Hwang, CEO of Waiker, expressed, “Building trust upon Waiker’s technology and business strategy, we will seize the partnership opportunity to accelerate global business expansion. We consider it a grateful opportunity to create innovation and leap forward by leveraging Refinitiv’s explicit brand power based on 170 years of history, global network of approximately 40,000 financial institutions, and data. We will actively collaborate and to achieve mutual growth together.”