3 Years of Financial Public Data Opening... 170 Million Views and 15,000 Usage Applications

"Expansion of Efforts Including Verification of Flooded Vehicles"

The Financial Services Commission announced on the 18th that since the opening of financial public data in June 2020, there have been 170.31 million data queries and 15,620 API usage applications over the past three years.

Since first opening financial public data from financial public institutions in June 2020, the financial authorities have expanded the scope of financial public data annually, including special corporation data in 2021 and individual business owner information in 2022.

The most queried data were corporate financial information, stock rights schedule information, and loan investment information, with stock rights schedule information queries increasing significantly from 1.9% to 16.2% compared to the previous year. The most requested API usages were stock price information, basic corporate information, and corporate financial information, with stock price information API applications rising sharply from 9.6% to 23.8% compared to the previous year.

The authorities are also working on quality improvements alongside data opening. For example, in the case of corporate overview information, identical data with only different reference dates were redundantly opened, causing unnecessary data volume and longer query times. To address this, the reference date was revised to the initial opening date and the last modification date, and duplicate data were removed (from 16.38 million to 900,000 records), improving the speed and convenience of using financial public data.

The main uses of financial public data are understanding economic and corporate trends (34.7%), business and marketing utilization (16.0%), corporate evaluation (14.7%), startup and app development (12.0%), research and academic papers (11.3%), and policy reference (8.7%). By topic, corporate information is mainly used for corporate evaluation and research/paper writing; price information is used for understanding economic and corporate trends and corporate evaluation; and capital market information is primarily used for research/paper writing and corporate evaluation.

Looking at specific cases of private companies’ utilization, Company A operates a matching platform between startup companies and investors using basic corporate information; Company B provides corporate evaluation information using corporate financial data; and Company C operates a minority shareholder solidarity platform using stock issuance information and basic financial company information. These examples show that the utilization areas of financial public data are gradually expanding.

The Financial Services Commission stated, “This year, we plan to further expand the opening of financial public data, including services such as flood-damaged vehicle authenticity verification, securities lending transaction information, and insurance subscription information.” They added, “In particular, the flood-damaged vehicle authenticity verification service allows consumers to easily check flood damage history by simply entering the vehicle number, which is expected to greatly help prevent consumer damage caused by information asymmetry.”

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