NH Nonghyup Bank Provides 10 Data Products Free of Charge to Financial Data Exchange

[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank announced on the 24th that it will actively respond to the creation of a data distribution environment by providing 10 data products combining consumer and financial asset information free of charge on the Financial Data Exchange (FinDX).

The newly introduced data products combine information on 10 types of consumer spending (household funds, marriage and childbirth, education expenses, transportation and vehicles, cultural activities, telecommunications, medical care, dining out, travel, shopping) with financial asset information (savings, loans). They provide average consumption, savings, and loan information by age group across 17 cities and provinces nationwide.

Nonghyup Bank expects that by offering these data products for free, it will assist small and medium-sized enterprises, ventures, and small business owners who face difficulties in collecting financial data, and contribute to research and development in various fields such as new business development, commercial area analysis, academic research, and public policy.

In the long term, the bank plans to continuously introduce customized data products that reflect user needs by analyzing users’ interest in data utilization and purposes.

President Junhak Kwon said, “We provide data products that combine our strengths such as card, membership, and VOC data free of charge so that anyone can experience them,” and added, “Through data collaboration with Nonghyup affiliates, we will continuously introduce data products combining distribution, commerce, and finance, and strive to become a leading bank in the data sharing economy.”

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