Savings Banks to Provide MyData Service Starting from the 18th of This Month

Partnership Agreements with Four MyData Service Providers

The Korea Federation of Savings Banks announced on the 14th that it plans to provide MyData partnership services to savings bank customers starting from the 18th of this month.

The Korea Federation of Savings Banks will sign partnership agreements with four MyData operators, including two credit rating agencies, NICE Information Service and Korea Credit Bureau, as well as Welcome Savings Bank and Korea Credit Data, a service organization specializing in self-employed individuals. After system development and a pilot service, the Federation plans to officially launch the partnership service on the 18th.

A total of 38 savings banks will participate in this partnership project, and customers can use the partnership services through the respective savings banks' own applications or the Korea Federation of Savings Banks' integrated app, ‘SB TokTok Plus’.

Once users complete the consent procedure for using the MyData service within the app, they can use the ‘Asset and Liability Management Service’ to view and manage their assets in an integrated manner. In particular, if loan customers agree to provide asset information, they can receive evaluations based on existing CB information (such as delinquency history) and asset information (such as deposits and insurance). Through this, they will also be able to receive information regarding loan interest rates and limits.

A representative from the Korea Federation of Savings Banks emphasized, “We will enhance customer satisfaction and build trust as a leading financial institution for ordinary citizens by enabling middle- and low-credit users and the general public who use savings banks to access innovative financial services.”

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