Yeungnam University students won the ‘participation prize’ from ‘Exhibit on Creating Financial Ideas, 2015’ by suggesting a smartphone app linkage of financial products that manage driver’s daily income.
This contest has hosted by the Industrial Bank of Korea and the Asian economic newspaper since 2011. It is a contest for creating financial ideas from university student and citizens alike. This year’s competition had a total of 244 teams and on last month 28th; the contest has a team awards ceremony declaring winners after reviewing of documents and presentations. In Yeungnam University, a ‘Yanghwa Bridge’ consisting of Lee Myeong-hun (senior), Bae Gwang-nyeol (junior) won the participation prize. They are both business management students.
The financial product name that they proposed is ‘Ta! iger, one-stop financial service for taxi drivers’. This app is a financial package that manages savings, loans, income management all in one app for taxi drivers. This financial product is made to help taxi drivers who have a floating daily income of their work, thereby suggesting to input their days income in an ATM every day. Then, banks will offer a systematic income management, and a stable financial design to taxi drivers. Also, banks will provide other financial benefits depending on a taxi driver’s amount of product used.