The business data platform corporations COOCON(294570) said on the 4th that it signed a strategic business agreement (MOU·Memorandum of Understanding) with the comprehensive credit information corporations NICE Information Service(030190) to expand distribution of information services and to explore new data-based businesses.
The signing ceremony was held on the 3rd at the NICE Information Service headquarters. Chief Executive Officer Kim Jong-hyun of COOCON, Chief Executive Officer Kim Jong-yoon of NICE Information Service, and other key officials from both companies attended.
The agreement was pursued to combine COOCON's data collection, consolidation, and application programming interface (API·Application Programming Interface) distribution capabilities with NICE Information Service's diverse information service capabilities, including ▲credit evaluation ▲corporations information ▲identity verification, to expand information service distribution channels and customer touchpoints and to seek new data-based businesses.
The two companies will review supplying major information services, such as NICE Information Service's corporations information and identity verification, through "Coocon.net." COOCON will strengthen the data and information service portfolio on its platform, and NICE Information Service will be able to broaden its sales channels, which they said is expected to provide customers with a wider range of services.
In particular, they plan to pursue new data-based businesses that combine financial and non-financial data collected and consolidation by COOCON with NICE Information Service's credit evaluation modeling.
The two companies will also expand cooperation in global business. Leveraging its global data collection and consolidation capabilities, COOCON will support securing and linking local data needed for NICE Information Service's overseas credit bureau (CB·Credit Bureau) business. They also plan to widen the scope of using global data capabilities and to identify new business opportunities.
COOCON operates Coocon.net, Korea's largest API store that connects data from 500 domestic institutions and 2,000 institutions across 40 countries overseas through more than 300 APIs. It currently provides financial and non-financial data in API form to more than 2,000 corporations customers.