[Asia Economy Reporter Song Hwajeong] As the use of mobile driver's licenses spreads, the number of banks where banking services can be conducted through them is increasing.
According to the financial sector on the 16th, Shinhan Bank has been providing mobile driver's license services since the 8th.
The mobile driver's license is a digital ID that can be issued, stored, and used on an individual's smartphone through the Ministry of the Interior and Safety's mobile ID app, and it holds the same legal effect as the existing plastic driver's license.
Shinhan Bank applies the mobile driver's license 100% to all services provided at bank counters, enabling all banking tasks such as ▲account opening and closure for deposit services ▲loan principal and interest repayment for credit services ▲foreign exchange services including currency exchange and remittance ▲and all other banking services including reporting.
Additionally, when customers visiting branches authenticate via a digital counter QR code using their mobile driver's license, ID submission is completed, greatly enhancing customer convenience for banking services.
Earlier, Woori Bank was the first financial institution to introduce the mobile driver's license for real-name verification in January, and last month expanded the financial transactions applicable from 3 to 47. Accordingly, transactions possible through the mobile driver's license have expanded from account opening and currency exchange to include ▲account closure ▲password changes ▲check issuance ▲automatic transfer registration and changes ▲electronic banking applications ▲security card and OTP-related services ▲and principal and interest repayment.
The mobile driver's license allows customers to conveniently use financial services without carrying a plastic ID when visiting branches, and employees can prevent financial accidents such as ID forgery using blockchain DID (Decentralized Identity) new technology.
The mobile driver's license service is planned to be expanded nationwide after a pilot period in July.
In the future, a mobile resident registration card is also expected to be introduced. The Presidential Transition Committee is currently prioritizing review of 14 proposed tasks including the mobile resident registration card, integrated real estate subscription applications, and public officials' asset disclosures.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
