KT Launches MyData Service... Differentiated by 'Communication Fee' Benefits

KT announced on the 30th that it will launch the industry's first MyData service offering telecommunications fee benefits through its identity verification service application, 'PASS'. Photo by KT

[Asia Economy Reporter Oh Su-yeon] KT is differentiating itself from existing financial sector services by launching a MyData service that offers telecommunications fee benefits.

On the 30th, KT announced that it will start the MyData service through its identity verification application ‘PASS.’ KT mobile customers can use the service by updating the PASS app.

Earlier, on the 12th of last month, KT obtained the main license for personal credit information management. In addition to the basic integrated financial asset inquiry service, KT plans to maximize customer satisfaction by providing a MyData service that includes telecommunications fee benefits.

KT’s MyData telecommunications fee benefits allow customers to earn 4% or a fixed amount of cash back on payments made through domestic and international shopping apps partnered with KT MyData or when subscribing to affiliated services. The accumulated cash can be deducted up to 20,000 KRW from telecommunications fees or used to purchase coupons for KT Genie TV. Major domestic and international brands are participating, and the number of partners and cash usage options will continue to expand.

The service also introduces a ‘Life Secretary’ feature that notifies customers in advance of easily overlooked contract expiration dates and financial schedules, an ‘Asset Management’ service that conveniently displays credit information, and a ‘Credit Score Booster’ service utilizing telecommunications data. To quickly reflect user feedback and improve the service, the initial launch will be conducted as an open beta.

KT will also run various promotions to promote the MyData service. Customers who sign up for the MyData service will be entered into a draw to win smartphones, gift certificates, and other prizes. Those who issue a PASS certificate for the first time and link their financial accounts will receive a coffee coupon, limited to the first 10,000 people. Using the telecommunications fee unclaimed refund inquiry function enters customers into a draw to receive cash that can be deducted from their telecommunications fees. Additionally, setting up automatic telecommunications fee discounts will enter customers into a draw to receive cash and KT K-Deal discount coupons.

Choi Jun-gi, Executive Director of KT’s AI and Big Data Business Division, said, “By analyzing customers’ financial and telecommunications information with artificial intelligence (AI) and big data and actively collaborating with partners, we have launched a MyData service that provides real telecommunications fee benefits to customers. Going forward, KT will continue to introduce hyper-scale AI and MyData into daily life to provide personalized benefits to customers.”