Rakuten Group Launches 'Rakuten Cashbook' Service for 100 Million Members Using Coocon Data

Provides Financial Data from Over 500 Institutions in Japan, Launching a Customized Asset Management Service

Operating Data Business in Japan for Over 10 Years, Continuously Expanding Local Clients

Coocon (CEO Kim Jong-hyun, KOSDAQ 294570), a business data platform company, announced on the 13th that it will be the first Korean company to provide financial information from over 500 institutions, including financial institutions, e-money, telecommunications companies, and shopping malls, to the Rakuten Group in Japan.

Rakuten Group operates Japan's leading shopping mall and owns over 40 subsidiaries, including Rakuten Card, Japan's largest credit card company, as well as banks, travel, telecommunications, and media. Rakuten Group launched 'Rakuten Cashbook' last month, which allows its 100 million members in Japan to see their asset status at a glance using Coocon's data.

MWI, Coocon's Japanese subsidiary, provides Rakuten Group with a variety of financial data from over 500 Japanese institutions, including banks, credit card companies, telecommunications companies, e-money, shopping malls, and points. The cashbook service allows users to check their bank account balances, credit card usage status, shopping mall payment history, and various point history all at once. Through Coocon's data, Rakuten Group can provide its members with more accurate and customized asset management services.

In addition, Rakuten Group's cashbook service automatically classifies income such as salaries and bonuses deposited into bank accounts, credit card history, expenses such as telecommunications, gas, and water bills, and provides them. This allows users to see the entire household income and expenditure at a glance and supports effective asset management.

This is not the first time Coocon has provided data to Rakuten. Previously, Coocon provided data to 'Money Support', an asset management service of Rakuten Bank, Japan's largest digital bank.

Rakuten Group Cashbook plans to gradually expand its services to include information from securities and insurance sectors in order to provide customers with more detailed asset management services beyond the banking and credit card information used in this opening. It also plans to gradually expand Rakuten Cashbook services to affiliated companies in the future, with the goal of providing a unified asset management service that allows users to check various services provided by Rakuten in one place.

Lee Tae-kyung, CEO of Coocon's Japanese data business, said, "Asset management services similar to the domestic MyData adoption case are gaining interest in Japan, and such businesses are expected to expand." "We expect Coocon to lead business innovation by achieving meaningful results both domestically and internationally as a data provider."

In 2014, Coocon established MWI, its Japanese subsidiary, and has been actively developing its data business in Japan. Based on its successful data business model in Korea, it has achieved meaningful results for over 10 years. It is continuously increasing its customer base, including fintech companies, financial institutions, general corporations, and public institutions.

Japanese fintech companies and financial institutions have implemented financial services used in daily life, such as personal asset management services and automatic pocket money savings services, based on the financial data provided by Coocon. General corporations use Coocon data for business automation, such as corporate fund management services, deposit and withdrawal management, and expense management. Public institutions in Japan also use Coocon to provide data such as shopping mall payment history and telecommunications bill payment history in the process of understanding household income and expenditure.

Coocon has also entered the Southeast Asian market, including Vietnam and Cambodia. It is striving to expand its business based on its Vietnamese and Cambodian subsidiaries to ensure stable data collection and smooth local operations. Through this, it is providing data-based e-financial services and infrastructure locally.

In the Southeast Asian market, Coocon plans to participate in the 'Singapore Fintech Festival', the largest fintech event in Southeast Asia, which will be held in Singapore in the second half of this year, and will continue to expand its network in the Southeast Asian market.

About Coocon

Coocon is a company that has been focusing on collecting, connecting, and organizing business data for over 15 years since its establishment in 2006. Through its information API store, 'Coocon.net', it provides data necessary for business in API form. For more information on Coocon, please visit the company's website and Coocon.net.

Website: http://www.coocon.net/

Contact
Webkesigroup
Director Kim Do-yeol
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