Caring wins Shinhan Innovation Award for senior care and finance model

Caring, a senior care specialist, has received the Shinhan Innovation Award at the 5th Finnovation Challenge Awards. The program, co-operated by the Seoul Metropolitan Government and Shinhan Financial Group, is an open innovation initiative designed to discover promising fintech startups.

In collaboration with Shinhan Bank, Caring is developing a model that integrates nationwide care infrastructure with financial services. For care workers, the partnership focuses on enhancing digital literacy through AI and fraud prevention training, while designing specialized financial products, retirement security, and liability insurance tailored to their employment characteristics.

For seniors and their families, the collaboration aims to improve access to information regarding public support systems, such as basic pensions and long-term care insurance. The initiative also seeks to enhance payment convenience and minimize care gaps. Moving forward, Caring plans to utilize field data from its 69 direct care centers to implement a three-step roadmap involving data connection, execution, and the expansion of care-related financial solutions, including credit evaluation models for care workers.