Shinhan Bank Obtains Full MyData License... "Experience Change with 'MyJasan'"

Providing Asset Planning and Management Services Throughout Life Through Quality Data Collection

[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 28th that it has obtained the full license for MyData (Personal Credit Information Management Service) from the Financial Services Commission.

MyData is a service that collects personal credit information scattered across financial companies into one place and shows it to the individual. The Financial Services Commission granted full MyData licenses to 28 operators, including Shinhan Bank, the day before.

Since October 2019, Shinhan Bank has been providing an integrated asset management service that allows customers to manage all financial assets at a glance by utilizing financial data from banks, cards, securities, insurance, real estate, pensions, and more through the 'My (MY) Assets' feature on the Shinhan mobile application (app) SOL, even before obtaining the full MyData license.

With this full license acquisition, Shinhan Bank plans to further advance MyAssets, which is currently used by 4.75 million customers.

First, by utilizing Application Programming Interfaces (APIs), the bank plans to collect more precise data from a wider range of industries compared to the existing scraping method. Based on this, they plan to refine customer analysis and create a 'Comprehensive Financial Product Solution Platform.'

In the long term, Shinhan Bank intends to expand the scope of assets to introduce information account services that can manage and operate everything from traditional financial assets to tangible assets and digital assets.

Once information account services are activated, asset formation will be possible not only with financial assets such as deposits and savings at financial institutions but also with limited-edition sneakers or personal data. Shinhan Bank is promoting collaboration with various heterogeneous industries such as distribution and telecommunications to manage not only data collected through MyData but also data related to daily life and culture as personal assets.

A Shinhan Bank official said, "The new MyAssets prepared in line with the full MyData license will be launched in April," adding, "We will strive to ensure that customers, from those just starting asset management to those highly interested in it, experience positive changes in their assets."

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