ajunews Thursday,29 February 2024

Shinhan Bank adopts mobile driver's license authentication for banking services

By Kim Joo-heon Posted : April 8, 2022, 17:35 Updated : February 6, 2023, 14:54

[Courtesy of the Ministry of the Interior and Safety]

SEOUL -- Shinhan Bank, a major commercial lender in South Korea, adopted a mobile driver's license identification system that has the same authenticity as the physical plastic card version when receiving banking services. Customers no longer have to show their plastic licenses to identify themselves.
A mobile driver's license is a digital license issued using a smartphone application. In September 2019, South Korea's science ministry lifted regulations on the mobile authentication service through a regulatory sandbox. In June 2020, South Korea's three mobile carriers -- SK Telecom, KT, and LG Uplus -- have launched a digital driver's license service through "PASS," a personal identity verification app. The app also allows convenience store operators to verify the age of owners through the digital driver's license. 
Shinhan Bank said in a statement on April 8 that the mobile driver's license service will be adopted to receive all banking services including opening bank accounts and transferring foreign currency. "Through the mobile driver's license service, customers who visit our branches can conveniently receive banking services," an unnamed Shinhan Bank official said in a statement on April 8.

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