Seoul City’s First Vice Mayor in Charge of Administration Ryu Kyung-ki, 3rd R, and President Kim Duk-soo of KB Card hold an agreement on cooperation on Big Data signed between Seoul City and the credit card company at Seoul City’s New Building in Seoul on Oct. 2.(Photo:KB Card)

KB Card has been working hard to develop new credit card businesses using Fintech and Big Data for the sake of its future operations.

The credit card arm of KB Financial Group launched a new team to take charge of Fintech according to a plan to be ready for the future settlement market, and another team to take charge of strategies related to Big Data.

The latter team created the “Smart Offering System,” a marketing operating system for Big Data to provide its customers the most favorable benefits at the most appropriate time and place, the credit card company said in a statement.

Through the Big Data strategy, the credit card company wants to improve its marketing to an “advanced” level and boost its capacity to deal with to future through the exploration of new markets.

Firstly, the company is out to upgrade and spur the use of the Smart Offering System, which is excellent in helping the marketing team to be more effective.

Through an effective analysis of Big Data, the company will use data to spur the use of the systems that are to be newly built with the analysis results of Big Data. One potential outcome is a system to turn verbal consultations into consultations via letters, which would theoretically be used to preempt imperfect sales and for consumer protection.

The company will mine data and writings left by the people from such Internet websites as SNS and other mobile channels and use them in the development of commodities and marketing, the officials said.

The credit card company is on its way to building partnerships with such Internet websites as KT, LG U+, NHN Entertainment and other ICTs. 

The credit card company signed a business cooperative agreement with KT on strengthening a new business related to building “Financial ICT,” an ICT based smart finance business.

KB Card has also been moving fast to cope in the rapidly developing financial settlement market. The credit card company introduced a USIM-type mobile card in November 2011, and saw the mobile card membership rise to around 4 million in three years and seven months since the introduction of the mobile credit card. The amount settled through the USIM-type mobile card system went from 300 billion won in 2013 to 600 billion won in the first quarter this year.