LG Uplus Directly Enters Financial MyData Business
Financial Services Commission to Accept Preliminary License Applications for Personal Credit Information Management Business on the 31st
[Asia Economy Reporter Cha Min-young] LG Uplus announced on the 2nd that it applied for a preliminary license for personal credit information management from the Financial Services Commission on the 31st of last month to directly enter the financial MyData business.
Previously, LG Uplus had been exploring collaborative models utilizing financial, telecommunications, and distribution data based on a MyData joint project business agreement with Shinhan Bank and CJ OliveNetworks. As the first result, it launched the data communication service ‘Dikitaka’ last month.
LG Uplus explained that it applied for the business license this time to more actively provide ‘life value services’ using financial data to customers.
In addition to the integrated asset management and expenditure management services commonly provided by existing MyData operators, LG Uplus is preparing new services such as ▲due date notifications to prevent various payment delinquencies ▲cash flow management notifications ▲credit boosters that easily and conveniently raise individual credit scores ▲and finding hidden benefits unknown even to the user.
LG Uplus plans to securely manage customers’ financial data obtained through the MyData business license and combine it with telecommunications data to provide new financial MyData services.
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Jeon Kyung-hye, Executive Director of Data Business Promotion at LG Uplus, said, “With this application for the financial MyData business license, LG Uplus will combine its big data capabilities with financial data to provide a new form of life value service that customers can feel.” She added, “LG Uplus, which has always prioritized customer value, will once again find and solve customers’ hidden needs through MyData and set the standard for financial MyData services provided by telecommunications companies.”
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