[Photo] On Dec. 12, BC Card held an opening ceremony of its Financial Big Data Platform at the WeWork Eulji-ro branch located in Seoul. The ceremony was attended by Kim Jin-cheol a head of Marketing Division at BC Card(3rd from left in second row), Jang Suk-young a director of information and communications policy at the Ministry of Science and ICT(4th from left in second row), Oh Sung-tak a chief of National Information Society Agency(5th from left in second row), and other key officials of platform participant companies.

BC Card (CEO Lee Moon-hwan) announced the start of 'Financial Big Data Platform(hereinafter referred to as FBDP)' that trades financial big data and supports AI analysis environment.

Earlier in July, the Ministry of Science, Technology, Information and Communication selected 10 big data platform operators in each sector to create an ecosystem for big data and lay the foundation for innovative growth. Among them, BC Card is responsible for the 'financial' sector.

On Dec. 12, the opening ceremony of FBDP took place at the WeWork Eulji-ro branch located in Jung-gu, Seoul, attended by Jang Suk-young a director of information and communications policy at the Ministry of Science and ICT, Kim Jin-cheol a head of BC Card Marketing Division, Oh Sung-tak a chief of the National Information Society Agency, and other key officials from Korea Telecom(KT). After the opening of the news, a demonstration of the financial big data platform was also implemented.

BC Card is responsible for not only establishing a FBDP but also collecting, analyzing, converging and distributing data produced by 10 centers under the platform. It also provides data of card consumption behavior based on its 28 million customers and 3 million merchants in South Korea.

The 10 centers are composed of major companies and startups from various industries. With 10 centers, financial data from HabitFactory(insurance), Finset(loan), Nota(loan for small size business), and SBCN(security) will be concentrated in to the platform converged with non-financial data from Korea Telecom(current population), Kiwoong Information and Communication(maintenance cost for housing), Korea Association of Property Appraisers(real estate), Mangoplate(business district analysis), Nielsen Company Korea(customer and media panel), and Daumsoft(social media).

FBDP will also be opened free of charge to the public in real time or periodically. In particular, data with the latest and continuity can be analyzed for their own purposes, or customized financial instruments and contextual neighborhood store recommendation services can also be provided. It is also expected to be of great help to small business owners who want to start their own businesses. It will provide a service that predicts and analyzes the success of start-ups through data on sales and customer retention of self-employed businesses using artificial intelligence.

In other words, data-based living services such as personal households and stores can be provided to meet the demands of financial consumers, instead of the uniform financial services centered on credit information.

"BC Card has been growing its platform business capacity through big data based on infrastructure of up to 3 million merchants in South Korea." said Kim Jin-cheol, head of BC Card’s Marketing Division. "As a FBDP operator, BC Card will continue to play a leading role in the data ecosystem by discovering and spreading innovative financial services."

Meanwhile, BC Card has also opened its Financial Big Data Analysis Center at WeWork Eulji-ro branch to enhance its use and analysis of big data and networking of business partners. Anyone can make a reservation on the financial big data platform (www.fnbigdata.com).