Shinhan Gold Investment and Shinhan Card’s first large-capacity data combination

As the first case of data combining since the KFTC was designated as a data specialist, Shinhan Investment and Shinhan Card completed large-scale data combining. [Image: KFTC]
As the first case of data combining since the KFTC was designated as a data specialist, Shinhan Investment and Shinhan Card completed large-scale data combining. [Image: KFTC]

[Digital Today Reporter Kang Jin-gyu] Financial Clearinghouse (Director Kim Hak-soo) announced on the 7th that it has completed large-scale data combining between Shinhan Investment and Shinhan Card as the first case of data combining since it was designated as a data specialist by the Financial Services Commission.

This combined case combines large amounts of data processed under pseudonyms of Shinhan Investment Corp. and Shinhan Card for the purpose of’analysis of financial investment propensity through combination of financial investment transactions and card consumption details.’ The analysis results will be used to strengthen the service competitiveness of financial companies and to develop customized products for financial consumers.

The KFTC explained that it provided reliable data combining services, such as safe file transmission/reception processing, large data combination, and operation of a professional evaluation committee, even in the first case.

KFTC is currently in the process of combining data with financial companies, credit rating agencies, and public institutions, and provides a pre-analysis service for the combination rate (matching ratio between combination keys) that can determine the possibility of data combination between user institutions before application for combination.

In the first half of this year, KFTC plans to provide free events and differentiated data combining services to promote the creation of an ecosystem for combining and utilizing data between finance and heterogeneous industries.

Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.