"Driving New Data Business"... Hana Financial Group Partners with SK ICT Affiliates

Combining Financial, Telecommunications, and Distribution Data... Advancing Alternative Credit Scoring Models

Hana Financial Group is partnering with SK Group's information and communication technology (ICT) affiliates to promote a new data combination business. The group plans to enhance an alternative credit evaluation model to support financially marginalized groups by utilizing data from the finance, telecommunications, media, and distribution sectors.

On the 16th, Hana Financial Group announced that it signed a "Business Agreement for Promoting New Financial, Telecommunications, Media, and Distribution Data Combination Business" with three SK Group affiliates?SK Telecom, SK Broadband, and 11st?at the Hana Bank headquarters in Euljiro, Jung-gu, Seoul, the previous day.

Accordingly, Hana Financial Group’s Hana Bank, Hana Securities, and Hana Card, along with the three SK affiliates, will participate in combining customer data across industries on the largest scale in Korea. To enhance the reliability of personal information protection, both groups agreed to pseudonymize each other's customer information through the Financial Security Institute, a specialized data institution, before combining the data.

Through this, they will pursue ▲advancement of an alternative credit evaluation model specialized for customers with medium to low credit and insufficient financial history ▲discovery of new businesses based on data combination ▲strengthening of data businesses based on data combination across different industries.

Hana Financial Group plans to apply the advanced alternative credit evaluation model in the personal loan screening process. It is expected that customized mid-interest loans will expand for customers with insufficient financial transaction history, such as university students, young professionals, housewives, and retirees. SK Group affiliates are also expected to develop customer-tailored products and services using Hana Financial Group’s financial data.

Hwang Bo-hyun, Head of the Data Division at Hana Bank, said, "Data combination is an unavoidable keyword leading the digital transformation era," adding, "We will take the lead in creating new added value through data combination across various industries."

Jang Hong-sung, Head of SK Telecom AdTech CO, stated, "ESG (Environmental, Social, and Governance) management is not just a trend but essential for corporate survival," and added, "This new business promotion through pseudonymized information combination will be another effort to practice ESG management through data."

From the left, Choi Won-young, Executive Director of Digital Headquarters at Hana Securities; Lee Cheol-haeng, AI/DT Manager at SK Broadband; Hwang Bo-hyunwoo, Head of Data & Partnership Investment Headquarters at Hana Bank; Jang Hong-seong, Ad Tech Co Manager at SK Telecom; Lee Seok, Executive Director of Digital Finance Group at Hana Card; Kim Jong-ho, Payment Planning Manager at 11st (Photo by Hana Financial Group)