Shinhan Card and Gyeonggi Credit Guarantee Foundation Collaborate to Boost Data-Driven Support for Small Businesses

Shinhan Card to Strengthen Risk Management Capabilities Using 'MyCredit' Credit Evaluation Service for Individual Entrepreneurs

[Asia Economy Reporter Yoo Je-hoon] Shinhan Card announced on the 17th that it signed a business agreement with Gyeonggi Credit Guarantee Foundation on the 15th at its headquarters in Jung-gu, Seoul, to promote data-driven Environmental, Social, and Governance (ESG) management and support for small business owners.

Through this agreement, both organizations plan to conduct joint research on local commercial districts based on Shinhan Card's vast consumer data and Gyeonggi Credit Guarantee Foundation's risk analysis capabilities for small business owners.

Additionally, both parties agreed to strengthen risk management capabilities for individual business owners by utilizing Shinhan Card's credit evaluation service for sole proprietors, 'Shinhan Card MyCredit.'

For individual business owners, accurate credit evaluation has been difficult using only personal credit scores. However, the company explained that by additionally utilizing MyCredit, which evaluates credit based on sales data from Shinhan Card's affiliated merchants, a more precise assessment is possible.

Furthermore, both organizations will actively explore various collaborative projects that support small business owners from an ESG perspective through the exchange of data capabilities.

Meanwhile, Shinhan Card has carried out approximately 550 data projects for over 200 public institutions and private companies. Through this, it is leading data business efforts by building 'GranData,' a private data dam that collects, combines, analyzes, and distributes all data in the private sector.

Shinhan Card stated, "We will strive to establish this data collaboration as another successful ESG model achieved jointly by public institutions and private companies."

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