One Month Before MyData... Final Tests Show No Issues

Pilot Service D-30... Credit Information Service CBT Underway

[Asia Economy Reporter Seong Giho] With the pilot service of MyData (Personal Credit Information Management Service) scheduled for the 1st of next month, businesses are in the midst of final confirmation tests. This is to check whether any errors occur during the process of multiple companies running the service simultaneously. So far, no major issues have been found, and testing will continue until the end of this month.

According to the financial sector on the 2nd, the Credit Information Service has been conducting a closed beta test (CBT) for MyData operators since last week. So far, only some operators who were ready among the 46 companies that have obtained MyData qualifications have participated. Full-scale testing is expected to begin this week.

Operators wishing to participate in the test must complete the Financial Security Agency’s service suitability review and security vulnerability inspection, and build a standard application programming interface (API) system.

This test is a data linkage confirmation ahead of the MyData pilot service. The Credit Information Service is overseeing the test, which is conducted under the same conditions as the actual service. However, unlike targeting MyData users, this CBT involves information transmission requests only internally. Previously, operators used a scraping method that collected financial institution information with user consent, but now, since companies exchange information through a new API format, confirmation is essential.

A Credit Information Service official said, "Since multiple companies transmit user information simultaneously, this is being done for confirmation purposes," and added, "No major problems have occurred yet, and weekly inspection meetings will be held for operators undergoing testing."

As the MyData pilot service approaches, operators are also stepping up their efforts. One MyData company stated, "We are currently finalizing preparations to participate in the test," and added, "We plan to join the test as soon as possible to minimize errors until the pilot service begins."