[E-Daily Reporter Kang Min-koo ] kakaopay(377300)is partnering with NH Nonghyup Bank to promote alternative credit scoring using data and artificial intelligence (AI) technology.

On the 15th, kakaopay signed a “Memorandum of Understanding (MOU) for an Alliance to Promote Alternative Credit Assessment” with eight companies—including NH Nonghyup Bank, NH Nonghyup Card, NH Nonghyup Capital, Korea Credit Bureau, Agile Soda, Earnest AI, Crepas Solution, and Seoul Information Service—at the NH Nonghyup Bank New Building in Seodaemun-gu, Seoul.

This agreement was established to move beyond the development of standalone models and to explore ways to jointly develop and utilize alternative credit assessment models based on each company’s strengths. The participating companies have agreed to combine their respective competitive advantages in alternative data, modeling capabilities, and AI technology to build a fair and innovative alternative credit assessment system.

In particular, kakaopay will serve as a key partner in supplying alternative data within this alliance. Leveraging data from its unique lifestyle finance platform—including MyData, which boasts the nation’s largest user base of 22 million subscribers, as well as payment and money transfer services—kakaopay plans to provide various types of alternative data and share ways to utilize it.

The alternative credit assessment model being developed through this agreement is expected to serve as a non-financial evaluation model for “thin filers”—such as young adults entering the workforce, college students, and small business owners—who have been disadvantaged by traditional credit assessment systems, thereby helping to bridge financial gaps.

Kakaopay has already established itself in the alternative credit assessment market by applying “Kakaopay Score”—an alternative credit assessment model jointly developed with KCB—to commercial card companies, internet banks, and savings banks, as well as to the Korea Housing Finance Corporation’s jeonse loan guarantee process.

Shinwon, CEO of kakaopay, stated, “Based on the vast amount of data we possess as a daily life financial platform and our experience with the pioneering ‘kakaopay Score,’ we will play a central role in this alliance.” He added, “We will continue to practice inclusive finance by leveraging data synergies to provide more reasonable and convenient financial benefits to users who have been left out of the mainstream financial system.”