"Data So-Bu-Jang, All at Once on Koscom Financial Cloud"

API Platform, Data Solutions, Security Equipment... Enabling Clients to Focus Solely on Their Business

[Asia Economy Reporter Oh Ju-yeon] Koscom has taken the lead in building a platform to revitalize the data economy. The prerequisite for the expansion of the data economy is efficient and secure data distribution, and Koscom aims to provide the optimal platform for this purpose. Koscom plans to support its clients to focus solely on data business by providing all necessary materials, parts, and equipment for the data industry through the Koscom Financial Cloud.

On the 17th, Koscom announced that it will leverage its API (Application Program Interface) platform expertise within the capital market to connect financial companies with the Koscom Financial Cloud, data security solutions, networks, and security devices, thereby supporting clients in creating new value.

An API refers to a predefined communication technology that allows one program or operating system to access and distribute data to another program. By connecting different programs through APIs, various contents can be linked and expanded without creating a new platform. Koscom explained that this provides convenience to customers by enabling the creation of new services through the connection of existing services.

For financial companies, exchanging data with other enterprises via APIs eliminates the need to build new IT infrastructure for new businesses. They can flexibly use data storage and security solutions according to scale and pay only for what they use, which overall reduces data distribution costs.

A Koscom official stated, "We will provide efficient services at reasonable costs to clients preparing for MyData or intermediary institution data businesses." MyData refers to a series of processes where data subjects (individuals) actively manage and control their information and proactively utilize such information for credit and asset management. For companies preparing for MyData, an API platform is considered essential rather than optional.

The Koscom official added, "API platforms, data solutions, and security devices, which correspond to materials, parts, and equipment in the data industry, can all be resolved at once on the Koscom Financial Cloud," and emphasized, "We will enable our clients to focus on their data business."