The Korea Federation of Savings Banks and Eightbite Sign MOU to Promote Simplified Non-Face-to-Face Identity Verification Service

Ha Eun-su, Executive Director of the Korea Federation of Savings Banks (right), and Kim Deok-sang, CEO of Eight Byte, are posing for a commemorative photo after signing a business agreement on the 23rd to promote the 'Non-face-to-face Identity Verification Simplification Innovative Financial Service.' Photo by Korea Federation of Savings Banks

[Asia Economy Reporter Kim Min-young] The Korea Federation of Savings Banks announced on the 23rd that it has signed a business agreement with Eightbyte to promote the 'Simplified Non-face-to-face Identity Verification Service.'

This agreement marks the first step in developing the 'Simplified Non-face-to-face Identity Verification Service,' which was designated as an innovative financial service for the savings bank industry for the first time in June. Attendees included Ha Eun-soo, Executive Director of the Federation, Choi Byung-joo, Managing Director, Shin Yong-chae, Managing Director, as well as Kim Deok-sang, CEO of Eightbyte, and Min Hyun-jin, Managing Director.

At the signing ceremony, Executive Director Ha said, “Once the simplified identity verification service is combined with non-face-to-face fixed deposit exclusive accounts, the convenience for savings bank customers will be greatly improved, enabling the provision of various financial services.”

Scheduled for release in December, the ‘Simplified Non-face-to-face Identity Verification Service’ is a service that simplifies the complicated identity verification process through biometric authentication. Customers can quickly and conveniently open accounts at multiple savings banks by registering biometric information without having to repeatedly go through procedures such as mobile phone verification, submitting copies of ID cards, or verifying transfers from other banks each time they open an account.