"Lotte Card Participation Secures Largest Domestic Credit Card Data"
[Asia Economy Reporter Yoo Je-hoon] KB Kookmin Card is expanding its big data alliance by partnering with companies from different industries such as Lotte Card, Lotte Duty Free, and Tmap Mobility.
On the 29th, KB Kookmin Card announced that it signed a business agreement for mutual cooperation in the data sector, including participation in the 'Cross-Industry Data Fusion Platform,' with Lotte Card, Lotte Duty Free, and Tmap Mobility at its headquarters in Jongno-gu, Seoul. The Cross-Industry Data Fusion Platform was created in May last year through a partnership of six companies including KB Kookmin Card, Lotte Department Store, Danawa, T-money, Topas Travel Information, and AB180, based on customer consent.
This platform is currently operated by AB180, a data infrastructure specialist and a participant in the second cohort of FUTURE9, KB Kookmin Card’s startup discovery and nurturing program. It combines various big data fields held by participating companies such as ▲consumer data ▲shopping data ▲search data ▲transportation data to be utilized for hyper-personalized marketing and new business discovery.
For example, last year, KB Kookmin Card and Danawa conducted joint marketing based on the data fusion platform. They provided real-time benefit information based on Danawa keyword search data to members intending to purchase specific interest products, offering customers tailored benefits they needed.
With the participation of Lotte Card, Tmap Mobility, and Lotte Duty Free in the platform, KB Kookmin Card expects to secure vast and high-quality big data related to mobility and distribution, and through diverse data fusion and cooperation among participating companies, enhance data competitiveness and create mutual synergy.
A KB Kookmin Card official stated, "The participation of Lotte Card, Tmap Mobility, and Lotte Duty Free in the cross-industry data fusion platform will raise the platform’s internal and external status and strengthen the cooperative relationships among participating companies. In particular, the participation of Lotte Card is significant as it equips the platform with the largest credit card data scale in Korea." He added, "We plan to continue expanding partner companies participating in the platform and grow it into a leading private sector data fusion platform that provides high-quality data services to customers through efforts to discover new businesses based on data."
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