11st Launches Industry-First MyData Service "Manage Spending Like Enjoying a Cup of Coffee"

[Asia Economy Reporter Jeon Jinyoung] 11st announced on the 25th that it has launched the MyData service ‘MoneyHanjan,’ the first in the e-commerce industry.

After more than two years of preparation, MoneyHanjan was introduced with the meaning of ‘easily checking one’s assets and consumption details daily like having a cup of coffee,’ aiming to provide a service that helps customers make wise consumption by leveraging the strengths of e-commerce.

MoneyHanjan features the ability to conveniently check scattered financial information such as pay and points provided by major financial sectors including card companies, banks, financial investments, and simple payment services, as well as fintech companies, all within the 11st app. To help MZ generation (Millennials + Generation Z) customers, who are familiar with online shopping, easily understand and use MyData, a simple and intuitive interface has been applied.

MoneyHanjan is available to anyone using the 11st app and the service is mainly provided in three categories: ‘My Consumption,’ ‘My Assets,’ and ‘Consumption Tags.’ Upon first signing up for the service, users click ‘Connect My Assets,’ select desired products from institutions such as card companies, banks, financial investments, and insurance, and then complete the identity verification process to finish importing information.

‘My Consumption’ offers services such as ‘Consumption Details,’ which shows card payment and account transfer usage details and fixed expenditure information; ‘Consumption Variation Graph,’ which displays monthly, weekly, and daily consumption data in graphs; ‘Category Consumption Details,’ which analyzes consumption patterns; ‘Merchant-specific Consumption Details,’ which allows users to check payment amounts at specific merchants during a certain period; and ‘Budget Setting,’ which helps users understand spending scale compared to their budget.

‘My Assets’ allows users to view scattered asset information such as bank accounts, IRP, investments, insurance, points, and loans at a glance, while ‘Consumption Tags’ provides intuitive keywords (such as Convenience Store Holic, Mart Mania, Donation Angel) that analyze the user’s consumption habits for the month to help understand their consumption patterns.

Furthermore, 11st plans to add a service by the end of this year that offers special ‘deals’ within 11st, allowing MoneyHanjan customers to purchase frequently consumed products at discounted prices based on their spending history.

11st COO Ahn Jung said, “With 47 million customers using 11st, which is closely related to customers’ daily consumption expenditures, MoneyHanjan aims to be a service where anyone can easily and familiarly experience MyData,” adding, “We plan to expand differentiated features unique to MoneyHanjan specialized for commerce within this year to secure MyData leadership as a true shopping advisor for our customers.”

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