Mirae Asset Daewoo Signs Data Convergence Business Agreement with Lotte Card

Differentiating Competitiveness in MyData Business through Integration of Financial and Consumer Data

(From left) Han Jeong-wook, Head of Digital Division at Lotte Card, and Kim Nam-young, CEO of Digital Finance Division at Mirae Asset Daewoo, are holding a business agreement ceremony at the Four Seasons Hotel.

[Asia Economy Reporter Song Hwajeong] Mirae Asset Daewoo announced on the 16th that it held a 'Business Agreement Ceremony for Data Convergence Business' with Lotte Card on the 15th at the Four Seasons Hotel in Gwanghwamun, Seoul.

This agreement aims to jointly research customer consumption pattern trends by combining Mirae Asset Daewoo's financial investment data with Lotte Card's consumption data. Mirae Asset Daewoo's customer investment assets and transaction history data are the main targets for integration, while Lotte Card plans to combine data based on customers' card usage performance by industry. Both companies will use pseudonymized customer data combined through a data-specialized institution (Credit Information Agency) for statistical and industrial research purposes.

Based on securely processed pseudonymized information, Mirae Asset Daewoo will be able to provide customized recommendations tailored to customers' investment and consumption behaviors through combined data analysis, and offer various financial consumer-friendly services based on insights gained from the analysis. In particular, this opens the way to recommend integrated investment and consumption content for various customer groups such as high-net-worth individuals, Jurini (stock + children), and the MZ generation (Millennials + Z generation born after 1995). It is expected that consumption-related analysis results will also be proposed in the integrated asset management service of the MyData project starting in August.

Both companies plan to jointly conduct big data analysis and model development, disclose key research results, and build a continuous collaborative relationship by discovering new research topics and conducting joint marketing in the future.

Namyoung Kim, Head of Digital Finance Division at Mirae Asset Daewoo, said, “We participated in the data convergence business between different industries for the first time in the securities industry,” and added, “We will strive to provide new financial innovation services to customers by fusing various types of data in the future.”

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