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Kukon, a business data platform company, has signed a strategic memorandum of understanding (MOU) with NICE Information Service, a comprehensive credit information company. The two companies will combine Kukon’s data collection, connectivity, and API distribution capabilities with NICE Information Service’s credit rating, corporate information, and identity verification services to diversify information service distribution channels and jointly develop new data-driven businesses.
Initially, the companies will discuss offering NICE Information Service’s corporate information and identity verification services through Kukon’s API store, Kukon.net. They also plan to collaborate on developing new data products incorporating credit rating models and supporting overseas credit bureau (CB) business using Kukon’s global network.
Kukon, a business data platform company, has joined forces with NICE Information Service, a comprehensive credit information company, to expand information service distribution channels and pursue new data-driven business opportunities.
Kukon announced on the 4th that it signed a strategic memorandum of understanding (MOU) with NICE Information Service on the 3rd at NICE Information Service’s headquarters in Yeouido, Seoul, attended by key executives from both companies, including Kukon CEO Kim Jong-hyun and NICE Information Service CEO Kim Jong-yoon, to expand information service supply and jointly develop new data-driven businesses.
The core of this agreement is to create synergies by combining the key capabilities of both companies. Kukon brings its data collection and connectivity technology along with API distribution platform operating experience, while NICE Information Service contributes its expertise in information services including credit rating, corporate information, and identity verification. Through this partnership, the companies aim to diversify information service distribution channels, expand customer touchpoints, and explore new business opportunities that increase data utilization.
Initially, the two companies will discuss offering NICE Information Service’s key services — corporate information and identity verification — through Kukon’s API store, Kukon.net. Once this collaboration is fully underway, Kukon is expected to strengthen its platform’s product competitiveness, while NICE Information Service can secure new sales channels and broaden its foundation for service expansion.
New data businesses will also be pursued jointly. The companies plan to combine Kukon’s financial and non-financial data connectivity capabilities with NICE Information Service’s credit rating modeling expertise to develop new data products and business models tailored to market demand.
Collaboration will also expand in the global business arena. Kukon plans to leverage its overseas data collection and connectivity capabilities to support NICE Information Service’s efforts to secure local data needed for its overseas credit bureau (CB) business. The two companies intend to use this as an opportunity to broaden the scope of overseas data utilization and identify additional business opportunities.
Kukon operates Kukon.net, which connects and provides data from approximately 500 domestic institutions and over 2,000 institutions across more than 40 countries through about 300 types of APIs. The company currently supplies financial and non-financial data in API form to approximately 2,000 corporate clients and is expanding its business across various industries.
NICE Information Service is one of South Korea’s leading credit information companies, offering a wide range of information services including personal credit information, corporate information, identity verification, and risk consulting. The company continues to maintain its competitiveness in the credit rating and information services market based on its accumulated credit data and rating models.
“NICE Information Service CEO Kim Jong-yoon said, ‘This agreement will serve as a starting point for combining NICE Information Service’s credit rating and information service capabilities with Kukon’s data connectivity and platform distribution capabilities to secure new customer segments and market opportunities.’ He added, ‘Starting with the expanded distribution of corporate information and identity verification services, we will gradually broaden our collaboration to include new data-driven services and overseas CB business, strengthening the foundation for sustainable growth for both companies.’”
“Kukon CEO Kim Jong-hyun stated, ‘This collaboration will be an opportunity to elevate Kukon.net’s information service competitiveness based on Kukon’s data collection and connectivity capabilities and API distribution strengths.’ He added, ‘Together with NICE Information Service, we will develop new data products and business models and deliver tangible results in the global data business.’”
This agreement comes amid the growing importance of intercompany collaboration as the data industry expands. Kukon brings its data distribution platform operating expertise, while NICE Information Service holds specialized knowledge in the credit information sector, drawing attention to how their partnership will impact the market. In particular, once NICE Information Service’s services become available through Kukon.net, corporate clients will be able to access credit rating, corporate information, and identity verification services alongside existing financial data in one place. This is expected to enhance Kukon’s platform competitiveness while broadening NICE Information Service’s distribution channels.
The companies’ collaboration is expected to extend beyond the domestic market to overseas. Combining Kukon’s global data network with NICE Information Service’s credit rating modeling capabilities could make it easier to secure local data for entering overseas CB markets. However, challenges remain, including navigating foreign regulations and competing with local players.
Industry observers are watching whether this MOU will go beyond a simple business agreement to present a new collaboration model for the data industry. This is because the combination of a platform company specialized in data collection and connectivity with a rating agency that has accumulated credit information is rare in South Korea. Analysts suggest that if the collaboration scope expands as announced, improvements in data product diversity and distribution efficiency could reshape the competitive landscape of the relevant market.
Source: biggo.com
