Financial Supervisory Service to Adopt Linux Operating System to Vitalize SupTech Industry

Nov 09, 2018

Financial Supervisory Service (FSS) is planning to adopt Linux OS (Operating System) and establish platforms that will analyze Big Data and AI (Artificial Intelligence) to vitalize SupTech industry.
SupTech, which combines words supervision and technology, utilizes Fourth Industrial Revolution technologies for supervisory tasks of financial companies.
According to industries, FSS recently started selecting businesses that will introduce infrastructures such as software and servers for operation of Big Data and AI.
Selection will be based on abilities to establish software and servers that will support machine learning and distributed processing of large capacity. MSS is going to finish selection process by the 16th and start on this project on the 19th for one month.
It is interesting to see that MSS is adopting Linux as an OS for this project. Red Hat’s enterprise commercialized distribution will be applied. Corresponding OS supports 5 Big Data analysis servers, 2 STT (Sound To Text) learning and recognition servers, and 1 machine learning and visual server.
Linux needs to be adopted since the major platform is ‘Hadoop’. Hadoop is an open-source technology that analyzes Big Data and it can also be used within Linux environment based on open sources.

Financial Supervisory Service to Adopt Linux Operating System to Vitalize SupTech Industry

FSS is pushing for a project that will enhance financial supervisory service by 2020. Big Data task force, which was established earlier this year, will establish a Big Data analysis system after going through Big Data-based analysis demonstration system. This system will be used for supervision, inspection, consumer protection, and investigation in the future. FSS is also going to develop a chatbot-based civil service and enhance its comprehensive analysis system in 2020.
“We have started establishing relevant infrastructures to adopt Big Data into supervisory tasks for the first time this year.” said a representative for FSS’s Supervisory Information System Team. “Based on this, we are going to implement intelligent financial supervisory information services.”
Linux is emerging as the main OS for financial industries as it is useful to set up environments for open-banking and Cloud. Number of incidences where financial industries are using Linux instead of mainframe or Unix is also on a rise.
KakaoBank, which is an internet-only bank that was established last year, is operating Linux-based systems. Some stock firms are also using Linux not just for data processing servers but also for general servers.
Actually, percentage of Linux adoption surpassed that of Unix last year for the first time.
‘Current Status of Financial Informatization in 2017’ issued by The Bank of Korea’s Financial Informatization Promotion Committee, Linux (28.8%) was the OS that was used mostly by financial institutions for their computational devices followed by Unix (26.8%), Windows (25.3%), and NT (9.0%). Mainframe was classified as others (10.0%).
Staff Reporter Ham, Jihyun | goham@etnews.com

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