'Financial Transactions with a Single Palm' Shinhan Credit Union Introduces First Biometric Authentication Service in Mutual Finance

Use Bioinformatics for Easy Shinhan Financial Transactions Without Cards or Passbooks

[Asia Economy Reporter Kim Min-young] The National Credit Union Federation of Korea announced that starting from the 1st, it will introduce the 'Credit Union Bio-Authentication (Hands-On) Service,' the first of its kind in the mutual finance sector, enabling financial transactions with just a palm.

The Hands-On service is an innovative financial transaction service tailored for the fintech era, allowing users to easily and conveniently conduct financial transactions at credit union branches and ATMs nationwide through the registration of bio (vein) information. The credit union plans to first implement the service at over 500 branches nationwide and then gradually expand it.

With the introduction of this service, financial tasks such as ▲deposit and withdrawal of savings ▲accident reporting ▲passbook reissuance ▲mutual aid services can be performed without separate authentication media like ID cards or seals, significantly improving user convenience.

Additionally, the extracted user's bio-information is strictly stored at the Financial Settlement Service's distributed management center to prevent leakage, addressing concerns about safety and security.

Kim Yoon-sik, Chairman of the National Credit Union Federation of Korea, stated, "The credit union aims not only to provide users with more convenient and stable financial services but also to fulfill its role as a leader in mutual finance driving innovation in the fintech era," adding, "We will not be complacent with the present but look to the future, thinking and considering from the user's perspective to become an 'innovative digital human credit union.'"

Meanwhile, to celebrate the service launch, the credit union is conducting a Hands-On open customer event from today until October 31, awarding 50,000 KRW mobile gift certificates to a total of 600 members who register their bio-information, with a total prize value of 10 million KRW.

This content was produced with the assistance of AI translation services.