Toss Bank Becomes First in Financial Sector to Offer ID Authenticity Verification System

Ancillary Business Approved by Financial Services Commission
AI-Based Forgery Detection Technology Now Available to External Companies

On November 20, Toss Bank became the first in the financial sector to receive approval from the Financial Services Commission for reporting the sale of "ID authenticity verification software" as an ancillary business. With this approval, Toss Bank has established a foundation to provide its self-developed artificial intelligence (AI)-based ID authenticity verification technology to financial institutions and general companies.

This system recognizes images of IDs submitted by customers, extracts key information, and detects forgery or alteration using AI-based image analysis technology. Having been trained on approximately 100,000 ID data samples, this proprietary software can automatically process what used to take several minutes to several hours with manual verification in just 0.5 seconds. As a result, it enables rapid identification of ID authenticity and demonstrates high reliability with a forgery detection accuracy rate of 99.5%.

Currently, this technology is also applied to Toss Bank's customer authentication procedures. Over the past two years, it has verified 3 million IDs, detected over 20,000 attempted forgeries, and prevented cases of identity theft. Major detection cases include the use of expired IDs, submission of photographed copies instead of physical IDs, and manipulation of photos or information on the IDs.

Toss Bank is the first in the financial sector to report the sale of ID authentication software as an ancillary business. This service is designed so that no additional infrastructure or installation is required, allowing small and medium-sized financial institutions and budget mobile service providers to adopt it at a reasonable cost. Toss Bank expects that this will help prevent the leakage of customer ID copies and identity theft in advance.

A Toss Bank representative stated, "This is the result of advancing customer verification procedures with our own technology," adding, "We hope that by standardizing the technology embedded in this software, we can contribute to forgery detection, prevention of identity theft, and enhanced stability of financial services not only in the financial sector but also across various industries."

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