KB Kookmin Bank Surpasses 3 Million Subscribers for 'KB Bio Authentication Service'

Leading Untact Financial Services Based on Accuracy and Stability

[Asia Economy Reporter Kwangho Lee] KB Kookmin Bank announced on the 2nd that the number of new customers for the KB Bio Authentication (Easy Banking) service has surpassed 3 million.

KB Bio Authentication is a service that allows customers to register their biometric information (palm vein) at counters and Smart Teller Machines (STM). Once registered, customers can verify their identity using the biometric data to perform withdrawal transactions and report-related tasks at counters, ATMs, and STMs without carrying cards or passbooks.

The biometric information used in the KB Bio Authentication service utilizes the blood vessels beneath the palm's epidermis. Since each person has unique vascular characteristics, it is difficult to forge or misuse, and because the veins are intricately intertwined, the authentication accuracy and security are higher compared to fingerprints or irises. Additionally, the collected biometric data is securely managed through a distributed storage system where the bank and the Korea Financial Telecommunications & Clearings Institute exchange information, enhancing safety.

Using this biometric information, KB Kookmin Bank offers a "Hand Withdrawal" service that allows withdrawals using only the palm without any media at 48 banks' reporting tasks, counters, and automated machines. This has improved customer convenience and satisfaction by reducing transaction processing time.

KB Kookmin Bank is conducting an event to celebrate surpassing 3 million new customers of the KB Bio Authentication service, targeting 2,000 people until the end of this month. Among registered KB Bio Authentication customers, 1,000 will be selected by lottery to receive Starbucks coffee coupons, and another 1,000 customers who use biometric information for withdrawals via STM and ATM will also be eligible.

A KB Kookmin Bank official stated, "This service is suitable for customers seeking safe contactless financial services due to COVID-19," adding, "We will continue to expand customer convenience for non-face-to-face transactions for customers registered with biometric information in the future."