NH Nonghyup Financial, Establishes Digital Big Data Platform

MyData Integration, Differential Customer Analysis, and Personalized Service Provision
Combining Finance + Retail + External Data to Gain Insights into Customers' Lifetime Needs

On the 6th, Lee Sang-rae, Head of the Digital Division at NongHyup Financial Group, is giving a briefing at the consulting kickoff meeting for the 'NongHyup Financial Digital Big Data Platform' held in the conference room of NongHyup Financial Group headquarters located in Jung-gu, Seoul.

[Asia Economy Reporter Park Sun-mi] NH Nonghyup Financial, which has submitted an application for the MyData business license, has begun building a big data platform.

On the 6th, NH Nonghyup Financial announced that it has started constructing a digital big data platform to combine the financial data of its affiliates with the distribution data of Nonghyup Economic Holdings, while also integrating external digital information. On the same day, a consulting kickoff meeting for the 'Nonghyup Financial Digital Big Data Platform' was held at the headquarters located in Jung-gu, Seoul, and the consulting results are expected to be released around December this year.

This is an attempt to go beyond the existing method of utilizing big data limited to financial information.

They plan to secure distribution data unique to Nonghyup Financial, such as Hanaro Mart and NH Members, link it with financial data, and further expand to include external de-identified information. As the first financial company to do so, they aim to establish a differentiated customer analysis system that integrates customers' financial, consumption, and digital channel (portal, social media, etc.) usage behaviors, and based on this, provide hyper-personalized services throughout the customer's entire life cycle.

Having submitted the MyData business license application, Nonghyup Financial expects that linking the MyData business with this platform in the future will create synergy.

Lee Sang-rae, Head of Digital Finance Division, said, “Nonghyup has an abundance of data that can be utilized beyond what is known in the market. If a group-level integrated platform that can systematically connect this data is successfully implemented, Nonghyup Financial can become a leading financial company in the overall data business.”

This content was produced with the assistance of AI translation services.