Financial Security Institute and BGF Retail Sign MOU to Establish Financial-Consumer Distribution Data Ecosystem

Kim Young-ki, President of the Financial Security Institute (left), is taking a commemorative photo with Lee Geon-jun, President of BGF Retail, after signing a business agreement on the 19th.

[Asia Economy Reporter Kim Min-young] The Financial Security Institute, the operator of the Financial Data Exchange (FinDX), announced on the 20th that it has signed a Memorandum of Understanding (MOU) with BGF Retail to create a financial-consumer distribution data ecosystem.

The two organizations will cooperate to foster a data economy ecosystem by ▲ distributing data products through the Financial Data Exchange ▲ discovering and promoting the use of financial-consumer distribution convergence data products ▲ collaborating on the development of data products and services utilizing consumer distribution data.

Through the MOU signed yesterday, BGF Retail registered 17 consumer distribution data products, including sales by region, age, time period, and product category, on the Financial Data Exchange.

As the scope of data products on the Financial Data Exchange expands to the consumer distribution sector, data demanders are expected to broaden opportunities for developing new types of products and services not only by purchasing consumer distribution data but also by integrating and utilizing existing registered financial data.

Kim Young-gi, President of the Financial Security Institute, stated, “The registration of consumer distribution data based on convenience stores on the Financial Data Exchange for the first time is highly significant for the future expansion of the data ecosystem,” adding, “We will continue to strive to ensure that the Financial Data Exchange grows into a true data hub by activating data distribution and integration between financial companies and consumer distribution companies.”

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