Shinhan Securities has announced a Memorandum of Understanding with Waiker, an AI global stock market startup, to develop a cloud-based open platform. Shinhan Securities, a subsidiary of the Shinhan Financial Group and a cornerstone of South Korea’s financial industry since the 1960s, provides comprehensive financial services including securities brokerage, investment banking, and asset management.

Waiker specializes in AI-powered global stock market database creation and utilization. The startup has secured an exclusive service contract with the London Stock Exchange Group (LSEG) for AI data services and supplies AI-powered US stock market analysis content to KBS using their specialized Large Language Model (sLLM).

As Shinhan Investment Securities prepares to launch its open platform, the partnership with Waiker aims to establish a technological roadmap with clearly defined stages for mutual growth and success in the global market.

Waiker CEO Elvin Hwang commented, “From our initial efforts collecting global stock market data, we identified areas where infrastructure for the stock market is underdeveloped in certain regions. Partnering with Shinhan Securities on the enhancement of global stock market infrastructure initiative through their open platform presented an attractive opportunity for Waiker.”

Hyeong-sook Jeon, Shinhan Securities’ ICT Group head, stated, “Distinct from entities solely fixated on AI or data collection, Waiker’s prowess lies in swiftly and adeptly converting unstructured stock market data into AI-driven databases within a hybrid cloud environment. Making the company to become an apt prime partner for our open platform.”

While tech giants like Amazon and Google have mainstreamed data and IT infrastructure integration in consumer goods and media, the financial sector has remained conservative in adopting modern technology. Shinhan Securities aims to address this gap by leveraging both companies’ technological competencies to establish solutions that will revitalize global stock trading and data infrastructure.