Toss Opens MyData 2.0

• Viewing and connecting assets through a simplified process… Supports connection of all financial assets by sector
• Dormant deposits and insurance payouts can be viewed… Transfers and cancellations available directly within the Toss app

Viva Republica, the operator of the financial super app “Toss,” announced the launch of its MyData 2.0 service.

MyData is a system that helps users collect and manage information scattered across multiple financial institutions in one place. Since launching its MyData service in December 2021, Toss has allowed users to easily view their financial assets and spending history, as well as receive personalized product and service recommendations.

With the implementation of MyData 2.0, Toss is introducing a service that enhances user convenience and service stability. Users can access the MyData 2.0 service by updating the Toss app to the latest version.

The steps for viewing and connecting the assets at the sign-up stage will be simplified. Users will also be able to load all assets held across financial sectors (banks, cards, securities, points, telecommunications, insurance, capital, etc.). Previously, there was a limit of 50 financial institutions that could be viewed at once, causing inconvenience as users had to select which assets to connect one by one.

The range of financial assets that can be managed will also get wider. Dormant deposits and dormant insurance payouts can now be checked via MyData. After checking, the user can transfer or cancel balances directly within the Toss app. A service allowing users to donate dormant balances to the Korea Inclusive Finance Agency will also be introduced.

The validity period for viewing asset information connected via MyData will be extended from one year to five years. Depending on the inactive period, the asset information updates will either be suspended or deleted in this process as a way to enhance information protection.

In addition, user-friendly features will be available, such as checking the payment source in spending history or receiving alerts for maturing financial assets.

“MyData has become a core service that helps users view and manage financial information themselves,” a Toss representative said. “We will continue to improve the connectivity and usability of information through a more convenient and secure MyData service to deliver user-centered services.”

Meanwhile, Toss is also making efforts to protect financial assets through MyData. Last month, the company launched the “Asset Protection Alert” service, which notifies users when a new financial asset is created. This is to prevent further damage in cases where financial products are created without the user's knowledge due to identity theft or other reasons.