Cucon has built an environment to use financial MyData at counselling counters in 52 nationwide branches of the Credit Recovery Commission.

Cucon said on Sept. 7 it completed the commission’s project to introduce MyData in the financial sector. The project is the first case of applying financial MyData in the public sector. The Credit Recovery Commission can now provide MyData services at in-person counselling counters as well as through existing non-face-to-face channels.

Cucon participated as the main contractor and applied its MyData All-in-One solution. It is a system that can handle everything at once, from identity verification to requests to transmit personal credit information and inquiries of financial information at the counselling counter.

It also reduces the burden of submitting supporting documents. Counsellors can conduct debt restructuring consultations and screening based on financial information that customers agree to transmit.

Cucon’s solution provides functions including data connections with about 450 institutions such as financial firms and big tech companies, MyData collection APIs, management of identity verification and personal credit information transmission request APIs, and usage monitoring.

Based on this deployment case, Cucon plans to respond to demand from public institutions for the introduction of MyData.

Cucon CEO Jong-hyun Kim (김종현) said, "Based on data connectivity capabilities and MyData project experience accumulated in the financial and public sectors, we will contribute to narrowing the information gap for financially vulnerable groups and improving financial access."