Busan Bank to Launch Facial Recognition Non-Face-to-Face Real-Name Verification Service in October

Easy Non-Face-to-Face Account Opening by Comparing ID Photo with Captured Face

[Asia Economy Reporter Park Sun-mi] BNK Busan Bank announced on the 23rd that it plans to launch a "Non-face-to-face Real-name Verification Service Using Facial Recognition Technology" in October, which enables non-face-to-face account opening and issuance of security cards and OTPs.

This follows the designation as an innovative financial service under the Financial Services Commission's Financial Regulation Sandbox. The newly introduced service is characterized by the ability to verify real names without bank staff. Previously, non-face-to-face real-name verification required a video call between bank staff and the customer.

The customer’s real-name verification document photo and a live captured image are compared through the facial recognition system on Busan Bank’s mobile banking app to proceed with identity verification. With the introduction of this service, Busan Bank plans to enhance convenience for financially vulnerable groups who are not familiar with video calls and improve the accuracy of real-name verification by applying anti-forgery and tampering technologies.

Kim Ji-min, Head of Digital Strategy Department at Busan Bank, stated, “We expect to provide a more convenient service to financially vulnerable groups and customers who felt inconvenienced by the existing non-face-to-face real-name verification method,” adding, “We will continue to enhance customer satisfaction by providing not only convenience but also safe innovative financial services.”

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