Woori Bank to Use 'Mobile Driver's License' for Identity Verification

Kwon Kwang-seok, President of Woori Bank, experiencing the mobile driver's license real-name verification service. Photo by Woori Bank

[Asia Economy Reporter Song Seung-seop] Mobile driver's licenses will be available for real-name verification at bank branches.

Woori Bank announced on the 28th that it will be the first in the financial sector to use mobile driver's licenses as a means of real-name verification. The system for this has been established and implemented in collaboration with the Ministry of the Interior and Safety and the Korea Minting and Security Printing Corporation. The mobile driver's license will be used for face-to-face transactions at branches and other locations.

The mobile driver's license is part of the Ministry of the Interior and Safety's digital government innovation plan and the Digital New Deal project. It is an official government-issued digital ID that applies blockchain-based decentralized identity verification (DID) technology. It is tamper-proof and allows individuals to selectively provide only the necessary information. Issuance began the day before.

Customers who have received a mobile driver's license at licensing centers or police stations can verify their real name at Woori Bank branches by scanning a QR code. Woori Bank verifies the integrity of the submitted information through blockchain. When the customer's ID image is displayed on the bank employee's terminal screen, the real-name verification process is conducted based on this.

Customers benefit from the convenience of conducting financial transactions using a digital ID stored on their smartphones. Banks can also reduce the risks of ID forgery, damage, and fraudulent use, thereby preventing financial accidents.

A Woori Bank official emphasized, "If this service is expanded to non-face-to-face channels in the future, the non-face-to-face real-name verification process can be innovatively improved. We plan to continuously increase its utilization so that it can be used not only by Woori Financial Group affiliates but also in innovative services with partner companies."