The driving information of TMAP users is utilized in various fields, including credit evaluation.
TMAP Mobility announced on the 3rd that it will launch the ‘TMAP Information Services’ in collaboration with the credit evaluation agency KCB.
The TMAP Information Service is modeled information that uses the driving and trajectory data (such as distance, sudden deceleration, sudden acceleration, etc.) and behavioral patterns of drivers using the TMAP platform to assist in credit evaluations by financial institutions. This service aims to enhance the repayment capabilities of so-called ‘thin filers’ who receive unfavorable credit evaluations due to insufficient financial transaction history and to provide preferential benefits such as interest rate reductions to existing financial service customers.
TMAP Mobility and KCB have completed joint research to validate the effectiveness of credit evaluations based on driving information using their pseudonymized customer data. The results confirmed that safe driving patterns positively impact financial repayment ability, leading to the release of services that enable more customers to benefit from financial evaluation advantages.
Both companies plan to continue discussions with non-financial stakeholders to ensure that TMAP Information Services can be utilized as alternative information in various fields. It is also expected to be applicable in analyzing traffic-based commercial opportunities, locations, tourist attractions, and festivals.
Kim Hyung-kyun, head of the API/DATA team at TMAP Mobility, stated, “The TMAP Information Service can be a supplementary source of information that enhances the creditworthiness of underserved groups who find it challenging to verify their loan repayment ability solely based on income. We will continue to expand the utilization scope in collaboration with credit evaluation agencies so that consumers practicing safe driving can receive more benefits.”
Lee Sang-jin daedusj@autodiary.kr