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

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)
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

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

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