Financial and Non-Financial Integration... Lotte Members Joins Big 5 Data Alliance

Lotte Members announced on the 19th that it will participate in the 'Big 5 Data Alliance' along with Samsung Card, Naver Cloud, CJ OliveNetworks, and NICE Information Service.

To this end, on the 18th, a business partnership agreement was signed with the participating companies at the Samsung Card headquarters in Jung-gu, Seoul. Key officials attending the signing ceremony included Kim Hye-ju, CEO of Lotte Members; Kim Dae-hwan, President of Samsung Card; Kim Yoo-won, CEO of Naver Cloud; Cha In-hyuk, CEO of CJ OliveNetworks; and Shin Hee-bu, CEO of NICE Information Service.

(From right) Kim Hyeju, CEO of Lotte Members; Cha Inhyuk, CEO of CJ OliveNetworks; Kim Daehwan, President of Samsung Card; Shin Heebu, CEO of NICE Information Service; and Kim Yuwon, CEO of Naver Cloud, are posing for a commemorative photo after signing a business partnership agreement for the 'Big5 Data Alliance' at the Samsung Card headquarters in Jung-gu, Seoul on the 18th.
[Photo by Lotte Members].

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The Big 5 Data Alliance is a data partnership network where companies with extensive experience in data utilization from various industries gather to secure diverse data and provide broad data services. The plan is to combine each company's capabilities from multiple angles, including data integration and analysis, consulting, sales, and promotions.

In addition to the combined use of financial and non-financial data, Lotte Members' research consulting service 'Lime' and analysis consulting service 'Lab' will also be linked, making it possible to derive rich and profound insights.

Lotte Members provides the alliance with behavioral data of 42 million L.Point members, as well as product and brand data. Based on its experience operating B2B data analysis consulting business since 2015, it also plays a role in standardizing various types of data.

Samsung Card, leading the Big 5 Data Alliance, provides customer demographic data and approval data based on membership and card payment information, and supports the integration and analysis of data collected by sector. Judging data as a new growth engine, it is currently expanding related businesses and was recently preliminarily designated as a private data specialized institution by the Financial Services Commission, preparing for official approval.

Naver Cloud provides interest and trend data based on search information and plans to offer participating companies a secure data analysis environment through a data analysis solution called 'Cloud Data Box.' CJ OliveNetworks provides online shopping delivery item data and is responsible for building data analysis, processing, and IT infrastructure. NICE Information Service will provide information including credit and income data held by credit inquiry companies, as well as data on commercial districts, distribution, affiliates, online sellers, and gig workers (short-term workers such as part-timers and freelancers).

Kim Hye-ju, CEO of Lotte Members, said, "Attempts to combine financial and non-financial data have existed before, but this time, by bringing together consumer data, payment data, credit and income data, search and trend data, and delivery item data, it has become possible to provide more useful data analysis services." She added, "Since all five companies have a strong willingness to actively participate, we expect to present a differentiated heterogeneous data integration model within this year."

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