DOUZONE has applied for provisional approval for MyData (personal credit information management) from the financial authorities. Recently, DOUZONE withdrew its participation in the 4th Internet-only bank and revised its management strategy to combine its existing business with a financial platform.
According to the financial authorities on the 1st, DOUZONE recently applied for provisional approval for MyData from the Financial Services Commission. MyData is a service that helps manage assets and credit by consolidating personal credit information, analyzing financial status and consumption patterns, and recommending suitable financial products. Financial consumers can view their personal information in one place through MyData without having to log into each financial institution's application.
DOUZONE's entry into MyData is interpreted as part of strengthening its financial platform business. DOUZONE had been promoting the establishment of an Internet-only bank with Shinhan Bank and others, but on the 17th, it declared the withdrawal of the project a week before applying for provisional approval. Instead, it adopted a new business strategy that combines its existing business with a financial platform.
DOUZONE is preparing a business that allows various financial services to be used on its Enterprise Resource Planning (ERP) platform. Corporate clients will be able to manage funds (account inquiries, transfers, collections), loans, insurance, and employee welfare-related services on the DOUZONE platform without separately accessing various financial institutions such as banks, insurance companies, and securities firms. By managing the MyData business, corporate clients will be able to manage financial information and subscribe to various financial products on the DOUZONE platform. DOUZONE plans to continue its financial business collaboration with Shinhan Bank.
DOUZONE noted, "We will fulfill our responsibilities to customers and society through financial innovation and strengthening global competitiveness by reflecting artificial intelligence (AI) and data analysis technologies."