Shinhan Bank Launches Passport Authenticity Verification Service

Provision of Passport Authenticity Verification Service Linked with Ministry of Foreign Affairs and Korea Financial Telecommunications & Clearings Institute

[Asia Economy Reporter Kangwook Cho] Shinhan Bank announced on the 29th that it will be the first commercial bank to implement the 'Passport Authenticity Verification Service,' which allows passports to be used as identification during financial transactions, both at branches and on Shinhan SOL.

Until now, passports could not be verified for authenticity through issuing authorities like resident registration cards or driver's licenses, limiting their use in non-face-to-face financial transactions. However, starting from the 28th, the Ministry of Foreign Affairs has provided a passport information linkage system, enabling non-face-to-face financial transactions using passports.

Accordingly, financial transactions for customers who want to use passports as identification, such as minors without other forms of ID, are expected to become more convenient. It is also anticipated to contribute to preventing financial accidents by blocking the use of forged or stolen passports.

A Shinhan Bank official said, "Through this passport authenticity verification service, both existing passports and passports issued since the 21st without resident registration numbers can be used for non-face-to-face financial transactions via Shinhan SOL," adding, "We will continue to launch various services to ensure safe and convenient financial transactions for our customers."

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