[Financial IT Forum] Jeong Jungho, Head of Hana Financial Research Institute, "Urgent Need to Combine Financial and Non-Financial Data"

Creating Customer Value Through Collaboration with Diverse Participants
and Cooperative Relationships

Jung Jeong-ho, Director of Hana Financial Management Research Institute, is giving a presentation on the topic "Trends and Development Directions of the MyData Industry" at the 11th Asia Economy Financial IT Forum held on the 25th at the Westin Chosun Hotel in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Ki Ha-young] "It is important to build capabilities in data accumulation and utilization, and to create customer value through collaborative relationships with various participants."

Jung Jung-ho, Director of Hana Financial Management Research Institute, emphasized this at the '11th Asia Economy Financial IT Forum' held on the 25th at the Westin Chosun Hotel in Seoul, hosted by Asia Economy and the Financial Security Forum. He stated, "In the MyData era, financial companies need long-term responses centered on an ecosystem that connects financial and non-financial data, along with transforming into comprehensive financial platforms utilizing both financial and non-financial data."

On the same day, Director Jung gave a presentation titled "The Advent of the MyData Era and the Financial Industry's Response." He presented the following as the financial companies' MyData response tasks: ▲ securing data and related capabilities ▲ advancing personal financial management (PFM) services and product development capabilities ▲ fostering the MyData ecosystem.

Director Jung said, "It is necessary to establish systems and frameworks for data acquisition, refinement, and analysis," and added, "We should explore combining financial and non-financial data through partnerships and alliances with other industries."

He continued, "It is essential to internalize the capabilities of MyData operators, such as developing product recommendation and asset management algorithm technologies," and added, "Collaboration between investment departments and data organizations should be strengthened to enhance product manufacturing and advisory service capabilities." Furthermore, he advised that providing competitive API-based products and developing customized specialized products and services through the integration of non-financial data are also necessary.