Ubivelox Approaches Entry into MyData Business... Financial Services Commission Grants Preliminary Approval

Rapid Advancement in Obtaining Final Approval

[Asia Economy Reporter Minwoo Lee] Ubivelox is expected to accelerate its entry into the personal credit information management business (MyData) after receiving preliminary approval from the Financial Services Commission.

Ubivelox announced that it received preliminary approval for MyData from the Financial Services Commission on the 13th. The company plans to promptly apply for the official license.

Using this approval as a stepping stone, Ubivelox has begun preparations to fully launch its MyData business by speeding up the relaunch of its fixed expenditure management service, "Acha." Unlike existing asset management services based on past spending data, "Acha" helps users anticipate and plan future expenditures. Previously, Ubivelox had suspended "Acha," which had been operating since February, to focus all efforts on preparing for the MyData licensing.

Kim Jaegwan, Head of the Ubivelox Platform Division, said, "We will leverage our IT security technology and experience, accumulated over 20 years supplying payment authentication products and systems to domestic and international banks, card companies, telecommunications firms, and public institutions, to lead the fintech (finance + technology) industry sector through the MyData business." He added, "By obtaining the MyData business license, we plan to create diverse revenue streams and use this as a growth foundation to transform into a new Ubivelox."

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