For Better Use of Financial Settlement Data
The Korea Financial Telecommunications & Clearings Institute announced on Nov. 10 that a common data platform of the financial sector would be established by July next year so that financial settlement data in the banking sector can be better utilized.
On the platform, the huge amount of financial settlement data of the institute as a common financial network operator will be integrated for the purpose of analysis, opening and combination.
Once the data platform is established in July next year, the institute will share its big data and remote analysis environments so that financial companies, fintech startups, research institutes and so on can utilize the financial settlement data. The big data will be provided in the form of de-identified data in compliance with the Personal Information Protection Act and the Credit Information Act.