Shinhan Bank Provides Big Data Commercial Area Analysis Consulting for Self-Employed Businesses

Providing Various Commercial Area Analysis Information for Self-Employed Based on Cooperation with Banks and Card Companies

[Asia Economy Reporter Park Sun-mi] Shinhan Bank announced on the 14th that it conducted commercial district analysis consulting using Shinhan Card's big data for self-employed business owners in Seoul who are experiencing management difficulties due to COVID-19.

Shinhan Bank provided various analytical information based on 2.8 million merchant data and over 300 million monthly big data transactions held by Shinhan Card's MyCredit for individual business owners to trainees of the 'Shinhan SOHO Academy,' which is operated in cooperation with the Seoul Self-Employed Support Center.

The consulting covered topics immediately applicable to business operations of self-employed individuals, including ▲changes in commercial districts before and after COVID-19 ▲sales and number of stores changes in major Seoul commercial districts over the past 10 years ▲macroscopic commercial district analysis cases using MyCredit data ▲regional commercial district entry strategies.

A Shinhan Bank official stated, “In the current situation where commercial districts, floating population, and consumption tendencies are rapidly changing due to the impact of COVID-19, Shinhan Bank will strive to expand the provision of precise commercial district analysis consulting based on big data through continuous cooperation with Shinhan Card.”