MyData Fully Implemented Today... "Managing Financial Information Becomes Easier"

Starting MyData Implementation in Full Swing from 4 PM on the 5th
Your Personal Financial Assistant... Which Financial Company Will Have the Advantage?

[Asia Economy Reporter Park Sun-mi] From 4 PM on the 5th, consumers will be able to manage their scattered financial information more safely, quickly, and conveniently through the full implementation of the secure API-based Personal Credit Information Management Service (Financial MyData).

Thirty-three providers will offer financial MyData services via the API method. Information from 417 institutions, including most regulated financial companies except some loan companies, will be provided. Twenty-one providers not participating in the API-based MyData service will join during the first half of this year after developing related systems and apps.

With the full implementation of MyData, the existing scraping method will be completely banned. Through the full implementation of the API-based MyData, financial consumers will be able to perform integrated inquiries and management more safely than before, thanks to stricter information protection and security system reviews, scraping prohibition, functional suitability assessments, and mandatory security vulnerability inspections.

Additionally, a safe system that allows faster and more convenient integrated inquiries of more information will be established, enabling effective customized asset and financial management. The integrated inquiry speed via the API method increases approximately tenfold compared to the scraping method.

There are also many advantages for MyData providers. When users request information transmission, the information providers are obligated to provide the information, creating an environment where MyData providers can receive the necessary information quickly and reliably. Under the previous scraping method, if information providers holding customer data applied scraping prevention technologies for reasons such as information protection, the stable provision of MyData services was hindered.

Compared to the previous scraping method, receiving information from more diverse and numerous information providers will enable service innovation and the creation of various business models.