[Photo] BC Card signed a memorandum of understanding (MOU) to promote the distribution and utilization of financial data with the Korea Data Agency and the Financial Security Institute at the headquarter of KDA in Seoul on the afternoon of the 10th. From the right, BC Card CEO Choi Won-seok, Financial Security Institute Director Kim Young-ki and Korea Data Agency Director Min Ki-young are taking photos.

BC Card (CEO Choi Won-seok) signed a memorandum of understanding (MOU) with major data transaction platform operating institutions in Korea to promote distribution and utilization of financial data.

Major officials, including BC Card CEO Choi Won-seok, Korea Data Agency director Min Ki-young and Financial Security Institute director Kim Young-ki, attended the business agreement ceremony held at the headquarter of the Korea Data Agency.

Through this MOU, each participant will cooperate with each other to find ways to cooperate between data trading platforms ▲ Sharing best practices and performance and mutual exchange between related consultative ▲ Enabling financial data transactions (standard contracts, quality standards, etc.).

It is also worth noting that data platforms dealing with most of the financial data transactions in Korea will collaborate to revitalize data distribution. Currently, each institution is operating government-led 'Financial Big Data Platform (BC Card), 'Datastore(Korea Data Agency)' and 'Financial Data Exchange(Financial Security Institute).

These platforms provide high-quality new data to public institutions, small and medium-sized enterprises, startups, and small businesses through the collection, convergence, and analysis process of finance (banks, cards, insurance, securities) and non-financial (communications, distribution, industry, etc.) data.

In particular, 13 companies under the platform participate in the "Financial Big Data Platform (www.bigdata-finance.kr)" operated by BC Card to produce and provide card consumption, insurance, securities and investment, floating population, real estate, restaurants and social data.

So far, more than 600 companies and 6,000 individuals have used related data to strengthen existing services or to provide new services. Representative examples are ▲ Online consumption analysis due to increased intact consumption ▲ Development of real-time insurance claims services for medical institutions, and ▲ Planning new towns using apartment data and upgrading energy data platforms.

Byun Hyung-gyoun, head of AI Big-data division of BC Card, said that "We expect cooperation between platforms to promote the distribution and utilization of financial data. We will continuously make an endeavor to provide high-quality consumption data, financial and non-financial convergence data to small and medium-sized companies and startups for supporting their business enhancement."