[Edaily Reporter Kim Hyun-ah] Competition among platforms targeting the small business and SME markets is evolving into a phase of “data alliances.” While telecommunications, financial, and public institutions are joining forces to combine commercial district data, fintech companies are linking payment and accounting data to enhance the competitiveness of their business management platforms.

Whereas in the past, competition was limited to providing simple financial support or payment services, the competitive landscape is now shifting toward supporting customers’ business decision-making and overall operations based on data. In particular, as the value of data utilization grows with the spread of AI, data alliances among platforms targeting the small business market are expected to expand further.

A prime example is the public-private data collaboration model established by #SK Telecom, #KB Kookmin Bank, KB Kookmin Card, and the Seoul Credit Guarantee Foundation.

These institutions have agreed to analyze changes in local commercial districts and funding demand by combining SK Telecom’s foot traffic data, KB Kookmin Card’s merchant sales data, KB Kookmin Bank’s deposit and loan data, and the Seoul Credit Guarantee Foundation’s commercial district revitalization index and store history data.

The goal is to go beyond simple commercial district statistics and establish a “predictive financial support system.” According to the analysis results for the Sinchon and Yonsei-ro commercial districts unveiled at the signing ceremony, this area has recently been transforming from a “pass-through” commercial district to a “stay-and-shop” commercial district. The analysis also confirmed a tendency for funding demand to peak in September and October, when the Chuseok holiday and the start of the academic year coincide.

As this analysis becomes more sophisticated, financial institutions and local governments will be able to provide “targeted financing”—supplying policy funds and guarantees precisely when they are needed. This means they can enhance the effectiveness of support for small business owners while reducing the risk of non-performing loans.

The four organizations plan to link their commercial district analysis services with those of the Seoul Metropolitan Government and local districts to provide a variety of information, including visitor age and gender, time-based stay patterns, and sales trends by business sector. This data can also be utilized for selecting startup locations and developing marketing strategies.

Kim Myung-guk, Head of Industrial AI at SK Telecom, stated, “Through data-driven collaboration, we will establish a practical support system that small business owners can truly feel,” adding, “We will go beyond technical support to strengthen our role as data-driven business partners.”

#The collaboration between WebCash and Toss Payments targets the business management needs of small business owners.

The two companies have agreed to jointly develop a feature that automatically integrates WebCash’s accounting platform, “Gyeongri Nara,” with Toss Payments’ payment and settlement data. Once the integration is complete, merchants will be able to view their payment and settlement data directly in Gyeongri Nara without having to download it separately or switch between multiple systems.

This initiative is focused on addressing the labor shortage—a major challenge faced by small and medium-sized enterprises (SMEs) and small business owners. By automating manual settlement management tasks, the collaboration is expected to reduce time and costs while improving data accuracy.

The two companies will not stop there; they will also launch platform-based joint marketing initiatives and work to acquire new customers. Their strategy is to expand customer touchpoints and strengthen their influence in the B2B market by connecting Toss Payments’ payment infrastructure with WebCash’s accounting platform.

Woo Song-soo, Vice President of Toss Payments, said, “SMEs are a crucial foundation and key partners in Toss Payments’ growth,” adding, “We will support them in managing payment and settlement data more efficiently to create an environment where customers can focus more on their core business.”

Kang Won-ju, CEO of WebCash, remarked, “Small business owners and SMEs often have to handle both business operations and management with limited staff.” He added, “Through our collaboration with Toss Payments, we will enhance our services and provide an environment where payment and settlement data can be utilized more easily and conveniently.”

Although both cases target small business owners, they essentially share a common thread: “data platform competition.” While the SK Telecom–KB Financial Group alliance aims to secure regional economic analysis capabilities by combining commercial district data with financial data, WebCash and Toss Payments are pursuing a strategy to raise the barriers to entry for business management platforms by linking payment and accounting data.