FIP Archievements
Over the years, the CFIP has successfully spurred innovation of the financial industry through its common IT projects harnessing the latest technologies. It has constructed a shared infrastructure for the financial sector, developed solutions and standards for its safe and efficient use, and made sustained efforts to increase the financial inclusion of vulnerable groups and underserved communities that can be left behind by the digital transformation of finance.
Key financial informatization projects by the CFIP
| Projects | Dates |
|---|---|
| Establishment of the CD/ATM System | 1988 |
| Establishment of the ARS Network | 1989 |
| Establishment of the Interbank Funds Transfer System | 1989 |
| Establishment of the EFT/POS System | 1996 |
| Establishment of the CMS System | 1996 |
| Establishment of the Credit Information Sharing System | 1997 |
| Establishment of the K-Cash Network | 2001 |
| Establishment of the Electronic Banking System (by expanding and updating the ARS Network) |
2001 |
| Establishment of the B2B e-Commerce Payment System | 2002 |
| Implementation of the CLS(PvP) Foreign Exchange Settlement System | 2004 |
| Establishment of the Electronic Bill Management System | 2005 |
| Establishment of the Smartphone-based Mobile Banking System | 2010 |
| Establishment of the Cross-Border ATM System | 2010 |
| Establishment of the Cash IC Card System | 2012 |
| Establishment of the Mobile Cash Card System | 2019 |
| Establishment of the ATM Database and the Financial Information Platform | 2021 |
| Launching of mobile QR ATM Service | 2023 |
List of financial standards by the CFIP
| Standards | Dates |
|---|---|
| Financial Computing Standards | 1995 |
| Firm Banking Service File Format Standards | 1996 |
| Closed-loop Financial IC Card Standards | 1997 |
| Open-loop Financial IC Card Standards | 2003 |
| Financial IC Card Security Token (for public key certificate-based transactions) Specifications and Standards | 2007 |
| Standards for Mobile Chip-based RF Access to the CD/ATM System | 2008 |
| Financial IC Card Standards (universal standards for both open and closed loop cards) | 2009 |
| CD/ATM Standards for Users with Special Needs | 2010 |
| Financial Micro SD Standards | 2012 |
| Biometric Data Distributed Management Standards | 2016 |
| Mobile Payment Solution (QR code) Standards | 2019 |
| Mobile Cash Card (HCE) Standards | 2019 |
| Distributed ID Service Operating and Sharing System Standards | 2021 |