Hyundai Card Corp. has rolled out diverse products and services to reinvigorate itself into a digital-based company under the “Digital Hyundai Card Initiative” announced in 2015.
The measures have included the launches of a string of products and systems to provide digital solutions needed for consumer finances.
In recognition of such efforts, the company was given an award by the Ministry of Science, ICT and Future Planning in the 2016 Data Quality Certification hosted by the ministry in November. It was the first financial company to win the highest award. The awards, launched in 1997, select companies that excel in managing information technology data quality. The evaluations encompass major businesses and public organizations.
They review how data concerning internal activities and customer services are accurately, consistently and efficiently provided, and whether there are any problems related to timing and security in the process.
Hyundai Card received the highest level of data quality management certification given by the Korea Software Technology Association in January. It had received the highest scores out of 66 public organizations and 250 companies evaluated, as a result of its enterprise-wide data management system the company constructed last year.
Hyundai Card has also launched a series of digital services under the catchphrase “Digital Hyundai Card” providing detailed and practical conveniences to customers.
They include the “PayShot” service opened in April. When one connects identification certification on a personal computer with the identification of an affiliated online retailer, the customer can make payments by simply logging onto the shopping site. The service is available for 18 affiliated online retailers. The service was the third in its “Digital Hyundai Card” series that began in 2015.
Other services include “Lock and Limit,” which enables customers to set and manage the places of one’s card usage such as online, offline, domestic or overseas, via Hyundai Card’s application.
The company also offers a virtual card number generation service that can be used locally and overseas, as well as online and offline.
The company also introduced a pre-electronic fraud detection system to fortify the prevention of leakage of information or fraudulent use.
In addition to such products and services, Hyundai Card has also been working to digitize the entire organization, ranging from the development to management sectors.
Spearheading such efforts is the company’s Vice President Phil Oh, who previously worked at NASA, Microsoft and Yahoo. Also leading the initiative are Kim Hak-min, director of the algorism lab, and Park Soo-jung, director of the digital development team.
The company has adopted a flextime system for software engineers, while its Digital Camp located in California’s Silicon Valley is devoted to researching fintech and trends overseas, as well as creating networks with other global businesses.
“We will continue working on creating services that goes beyond simply digitizing existing financial products to those that are digital-based,” a company official said.