BC Card (CEO & President Lee Mun-hwan, www.bccard.com) made an announcement on Feb. 8 that it has signed a Memorandum of Understanding (MOU) on the use of big data with SBCN (Co-CEOs Lee Seong-yup and Sohn Sang-hyun, www.sbcn.co.kr), a startup company specialized in robo-advisors.

SBCN is a leading robo-advisor company that won the Big Data AI Contest co-hosted by BC Card and Naver in 2017. Using automated algorithms, it offers asset management services to individual customers and companies.

On Feb. 7, BC Card and SBCN concluded an MOU on consumption data analysis and the use of the robo-advisor technology, and agreed to ▲ develop an index for predicting stock prices and themes, ▲ discover new businesses based on the index, and ▲ pursue a consulting business through the sharing of data.

Through the MOU signed with SBCN, BC Card has laid the groundwork for achieving win-win relationships with small- and medium-sized startups, and the company plans to aggressively contribute to the creation of a mutual growth environment by using all of the resources available such as the information necessary for consumption data analysis.

Kim Jin-cheol (Senior Managing Director), the Director of Marketing Division of BC Card, said, ”Signing an agreement with SBCN is a step beyond the discovery of a startup and provision of support as the purpose is to create a success story together and achieve mutual growth. […] We plan on continually discovering new business models that incorporate our big data and the new technologies of other companies.”

Meanwhile, Lee Mun-hwan, newly appointed as the President of BC Card this year, has revealed during his inaugural address that BC Card will be dedicated to the expansion of a mutual growth environment to support the growth of small- and medium-sized startups.