[CEO of Seoul fintechlab 2 Startup] 'DABIDA,' a startup developing fintech solutions through the convergence of AI-based handwriting recognition technology and blockchain technology

Lee Eun Seung, CEO of DABIDA

GeniCheck, a solution that prevents financial fraud by instantly analyzing whether a signature has been altered or forged, or a check is dishonored by AI
Analyzing handwriting habits (pressure, speed, number of strokes, etc.) quantitatively to determine the authenticity of signatures

"Our core AI-based handwriting recognition solution is not limited to the education field. Still, it can also be applied in various fields, including financial fraud prevention and authentication systems, the digitization of handwritten data at construction sites, healthcare, and public services. While maintaining the essence of the technology, we are expanding its application to go beyond EduTech and influence fintech and the industry as a whole."

DABIDA is a company that develops hybrid education and industrial solutions by converging analog and digital technologies. The company was founded in March 2019 by CEO Lee Eun Seung (45).

Lee is the author of five books on studying techniques, studying abroad in the U.S., and a mathematics dictionary, as well as an EduTech expert creating innovation at the intersection of education and technology. While working as a top mathematics instructor in Irvine, California, U.S., he experienced the limitations of remote education using Skype, a remote video solution at the time, in 2008. The lack of real-time interaction with students and the inconvenience of checking handwriting were obstacles to remote learning, and he founded 'DABIDA' to develop a solution to overcome these obstacles.

DABIDA is making a name for itself in the EduTech market with its educational robots, remote education platforms, smart pens, and AI-based artificial intelligence teachers.

DABIDA has developed 'GeniCheck,' a fintech solution, by combining AI-based handwriting recognition technology with blockchain technology. This solution utilizes the 'GENIPEN' robotics smart pen to digitize the act of writing checks in real-time, and AI immediately analyzes whether the signature has been altered or forged, and whether the check is likely to be dishonored, thereby preventing financial fraud.

In particular, it is designed to determine the authenticity of signatures by quantitatively analyzing the user's handwriting habits (such as pressure, speed, and the number of strokes) and storing this data on a blockchain to prevent alteration or forgery. While existing check authentication systems rely on image scanning or OCR, GeniCheck is the first solution that uses 'the moment of writing' as the starting point for authentication.

"DABIDA's solution may be unfamiliar because it is not used in Korea. However, it is a crucial technology because 'personal checks' are still used in the U.S. and several European countries."

DABIDA's most significant competitive advantage lies in its AI-based, real-time handwriting recognition technology and its hybrid structure, which connects analog and digital methods. Lee said, "Most existing electronic signature solutions and authentication systems rely on keyboard-based input or image scanning, and technology that recognizes and analyzes actual handwriting data in real time is rare."

"GeniCheck is a real-time handwriting data-based AI authentication technology that completely revolutionizes the existing check authentication method. While most competitors rely on check image scanning or OCR methods, GeniCheck of DABIDA instantly determines whether a check is altered or forged by analyzing quantitative behavioral data, such as handwriting pressure, speed, time, and the number of strokes, in real-time using AI. In addition, by storing all this data on a blockchain, we have created a structure that is impossible to alter or forge, ensuring transaction reliability and traceability. This combination of technologies provides both faster processing speeds and higher security compared to existing authentication systems. In particular, in markets such as the U.S., where checks remain a significant means of payment, GeniCheck is attracting strong interest from financial institutions and check issuers as a practical technology solution capable of reducing check fraud losses exceeding $1 billion annually. DABIDA Check is not simply a 'digitized check authentication' service, but the world's first behavioral biometric fintech technology that can authenticate the act of writing a check in real time, giving it clear market differentiation and a competitive advantage."

Currently, DABIDA operates local agencies in both the eastern and western U.S., actively pursuing various activities to penetrate the U.S. financial market.

"In particular, the U.S. has a vast financial system and high demand, but at the same time, it is a conservative market that values security and trust, so it is not simple to enter in a short period. Nevertheless, checks remain one of the most common means of payment in the U.S., and we believe that if the existing structural problems, such as forgery, alteration, and dishonored checks, are addressed, there is sufficient room for reactivation based on digital authentication technology."

Regarding plans, Lee said, "DABIDA is making this year the first year of its global market entry and is promoting full-scale commercialization and proof of concept (PoC) in three core areas: EduTech, fintech, and construction."

Founded: March 2019
Major business: EduTech (education), fintech (finance), ConTech (construction)
Achievements: Selected for the Startup Wheel Top 30; Won the 'Grand Prize' at the Startup Idea Competition; Selected to receive focused support from KODABIZ; Selected as the 2nd Seoul Fintech Lab; Selected as the 'Best' at the 2024 KSC France; Received the 2024 CES Innovation Award; Received the Minister of Trade, Industry and Energy Award; Received the 'Silver' Award at the AES Global Awards in Japan; Selected as 'Excellent' in ICT R&D by the Ministry of Science and ICT; Selected for the Accelerator Investment-Driven Tech Incubator Program for Startup (TIPS) by the Ministry of SMEs and Startups; Selected as the 'Best Company' by the Korea Technology Finance Corporation; Selected as Startup 4.0 by the Korea Credit Guarantee Fund; Won the Grand Prize at the Korea Small and Medium Enterprise Innovation Awards; Received the Korea Institute of Startup & Entrepreneurship Development Award at the 4th Industrial Revolution Festival; Selected as CORE 100 by Invest Seoul; Received the Proud Small and Medium Entrepreneur Award; Selected as an Excellent Hi-Seoul Company; Received the Excellence Award at the Korea Intellectual Property Exhibition; Won the Gyeonggi Business & Science Accelerator President's Award on the occasion of Gyeonggi Province Export Enterprises Day

reporter jinho lee
jinho2323@hankyung.com