NH Nonghyup Bank Obtains BM Patent for Public Voucher Operation System

Equipped with Policy Decision Support and Fraud Prevention Functions for Voucher Programs

NH Nonghyup Bank announced on June 5 that it has obtained a business model (BM) patent for its "public voucher operation system and method." A BM patent is granted for new business systems that implement business ideas using information and communication technologies such as computers and the Internet.

With this BM patent, Nonghyup Bank's expertise and technological capabilities in voucher operations, accumulated over the past 15 years, have been recognized. Since independently establishing its voucher platform in 2010, the bank has provided 13 types of voucher services to socially vulnerable groups such as the elderly, people with disabilities, and undernourished children, in cooperation with 212 local governments and 14 offices of education nationwide.

In particular, this system is expected to support the efficient execution of voucher budgets and the development of customized welfare policies for beneficiaries by incorporating an abnormal transaction detection system (FDS) to prevent fraudulent voucher claims, as well as policy decision support functions.

A Nonghyup Bank representative stated, "We will continue to provide even more differentiated voucher services by promptly reflecting the needs of public institutions and consumers related to public vouchers."