Gwangju Bank Launches "MyData 2.0" to Aggregate Credit Information in One Place

Gwangju Bank recently launched the "MyData 2.0 Service." Photo by Gwangju Bank

Gwangju Bank announced on June 24 that it has recently launched the enhanced and more convenient "MyData 2.0 Service."

The "MyData Service" is a platform that aggregates personal credit information scattered across various industries, including financial institutions, into a single place. It analyzes financial status and spending patterns to recommend suitable financial products, thereby assisting with asset and credit management. Because it enables integrated management of all aspects of financial life, it is often referred to as a "financial secretary in your hand."

The newly introduced "MyData 2.0" significantly expands customer convenience and the scope of information utilization compared to the previous service. In particular, the removal of limits on the number of assets that can be linked allows users to view assets from multiple institutions at once, greatly broadening the range of information that can be collected. Additionally, the consent process for information provision has been simplified, and the validity period for MyData enrollment has been extended to up to five years, making the usage process much more convenient.

Gwangju Bank was the first regional bank to obtain official MyData authorization in July 2021 and has been providing the service in earnest since January 2022. As of June this year, the number of users has reached approximately 480,000, establishing itself as a customer-centric digital financial service.

Key features currently offered include: "My Financial Calendar," which analyzes monthly spending details; "Save 100 Million," which allows users to simulate actual savings scenarios; and "Raise Your Credit," which enables users to check and directly improve their credit scores in partnership with KCB, among various other functions.

Byun Mikyung, Head of the Digital Division, stated, "We are delighted to introduce the more convenient MyData 2.0 Service to our valued Gwangju WaBank customers," adding, "We will continue to strive to provide even more convenient and secure Gwangju Bank MyData services through differentiated asset management and expanded spending analysis services."