[필드뉴스 = 김대성 기자] Hyundai Card rewrote the history of the financial and tech industries by becoming the first in the financial industry to successfully export independently developed AI software. This is unprecedented not only in Korea but also around the world.
Nine years after declaring ‘Digital Hyundai Card’ in 2015, Hyundai Card has been recognized in the global market for its world-class independent data science capabilities and technology, becoming the first Korean company to successfully transform from a traditional financial industry to a tech company. Became a financial company.
Hyundai Card announced on the 17th that it signed a contract to sell ‘UNIVERSE‘ to SMCC (Sumitomo Mitsui Card Company), one of Japan’s big three credit card companies. The contract size amounts to tens of billions of won and is the largest single software export in Korean history.
‘Universe’ is a data science-based customer super-personalization AI platform developed by Hyundai Card with its own technology.
‘Tag’, which defines and structures data, allows you to directly target customers by predicting individual behavior, tendencies, and status, and can be applied to all areas of business regardless of industry.
By introducing ‘Universe’, SMCC increases the value of the experience optimized for each member’s taste, payment pattern, and lifestyle, and advances affiliate store promotions through detailed targeting based on AI and data science, while also providing credit services, customer consultation, and fraud detection. We plan to introduce ‘Universe’ AI to company-wide areas such as:
Hyundai Card’s exports this time are attracting attention in that they are targeting major economic countries. Japan is widely known to undergo rigorous verification during the technology introduction process. In addition, it is unusual that it was chosen by SMCC, one of the Big 3 Japanese credit card companies with assets of 40 trillion won, rather than a small financial company with small size and lack of technology.
SMCC is a leading company that is leading changes in the Japanese financial market through various digital innovations. SMCC conducted a technology demonstration (PoC (Proof of Concept)) with Hyundai Card for six months starting last February, and after thorough verification, recognized the excellence of Universe and decided to introduce it.
Thanks to passing the rigorous verification of the Japanese market, a green light has been given to expand the export market. Currently, not only other affiliates of Japan’s SMFG (Sumitomo Mitsui Financial Group), which SMCC belongs to, but also leading overseas financial companies are considering introducing the universe.
This export is also significant in that it is the first case of ‘business transformation’ among Korean financial companies. Hyundai Card has proven its transformation from a ‘financial company’ to a ‘tech company’ in the global market by going beyond overseas expansion through financial services, which traditional financial companies have done so far, and exporting AI software on a large scale.
Hyundai Card has been leading the digitalization of the Korean financial market by focusing on strengthening data science and AI capabilities over the past 10 years. As a result, it solidified its position as the first financial company in Korea to develop and export AI software with its own technology.
An SMCC official said, “Through a thorough verification process, we confirmed that Hyundai Card possesses world-class data analysis and design capabilities and decided to introduce it.”
A Hyundai Card official said, “This is of great significance in that it is a technology-based overseas expansion rather than an overseas expansion through traditional financial businesses and financial systems that financial companies have been conducting so far, and that it has proven the transformation of the business from a traditional financial company to a tech company.” “There is,” he said.
He added, “Starting with Japan, inquiries about data science collaboration are continuing from countries such as North America, Europe, the Middle East, and Asia, and global expansion based on data science will accelerate even faster.”
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