Plan to Launch App Service in January Next Year
Providing Vehicle Usage Cycle-Linked Service
Asset Management Service Focused More on Finance than Consumption
[Asia Economy Reporter Ki Ha-young] Starting from the 1st of next month, the pilot service for the "Personal Credit Information Management Business (MyData)" will begin, and Hyundai Capital is launching a MyData service specialized in auto finance. With banks, card companies, and fintech firms competitively entering the MyData business, attention is focused on how many customers Hyundai Capital can secure through its auto finance specialized service.
According to Hyundai Capital on the 30th, they plan to open a MyData pilot service linked to vehicle-related services in January next year. This service connects necessary information according to the vehicle usage cycle, such as vehicle delivery, registration, and driving information. In particular, the Personal Financial Management (PFM) service will provide finance-focused services such as loan offers based on customer analysis and mobility proposals rather than consumption.
MyData refers to the collection of personal credit information scattered across banks, insurance companies, and card companies to provide customized financial services. MyData operators can analyze customers' card transaction histories, insurance information, and investment information to recommend advantageous financial products. Customers will be able to compare their credit scores, assets, loans, and the conditions of financial products subscribed to by similar consumers.
Among capital companies, only Hyundai Capital and KB Capital have currently received full approval for MyData. Since MyData is considered a future growth engine, not only traditional financial sectors such as banks, insurance, and cards but also fintech companies are actively competing to secure customers through financial product comparison and recommendation services. In this situation, Hyundai Capital will focus on auto finance and plans to launch an upgraded app from the end of January next year, providing new services to customers who consent to the MyData service.
By consenting to the MyData service, customers can enjoy various customized services beyond what was previously possible on the Hyundai Capital app, such as checking billing amounts and remaining balances. For example, in addition to the existing vehicle price check service, customers can access reports on maintenance, safe driving scores, and insurance. They can also receive information related to all mobility consumption, including vehicle tax, insurance, fuel, parking, taxi, and public transportation. For asset management, integrated asset information covering finance, automobiles, and real estate will be provided, showing detailed loan statuses while encouraging refinancing. Additionally, new features for credit score management and reports will be introduced, offering services such as credit score improvement and comparison within the same group.
A Hyundai Capital official stated, "We plan to enable customers to feel convenience and value through customized offers on the Hyundai Capital app," adding, "We expect this to strengthen our existing customer base as well as attract new customers."
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