In the future, even if you don't have a card or bank account, you will be able to find money at ATMs with your face alone. Shinhan Bank will introduce ATM services through face authentication starting in September.
First of all, financial transaction services through face authentication will be introduced at 900 units, about 20% of all ATMs. If you show your face on an ATM camera and authenticate it, you can process financial transactions such as account inquiry, withdrawal, and transfer without a bankbook or card.
Shinhan Bank plans to install one or more ATMs that can be face-certified at each branch across the country to provide an environment for users to use innovative financial services. It is going to gradually expand its devices starting from next year depending on responses from users.
Prior to applying ATM, it will also use face authentication to withdraw foreign currency starting next month. If you choose to receive a branch after applying for currency exchange through its financial app SOL, you will be able to find the amount of money by face not only at all branches but also at some ATMs such as Incheon International Airport and Samsung Station.
With the launch of ATM services, Shinhan Bank has expanded its face authentication service to all online and offline channels. Earlier, Shinhan Bank began providing services such as changing transfer limits and canceling transfers as well as withdrawal without an ID card at its branch window. In addition, it is also applied to mobile apps SOL and digital desks.
If face authentication services are expanded to all channels, it is expected that financial transactions for users will be easier and financial accidents through biometric authentication will be reduced.
An official from Shinhan Bank stressed, “It will be possible to withdraw cash even if you do not have an identification card, card, or bank account that can identify you in an emergency or urgent situation such as a disaster or disaster.”
In order to use face authentication service, face information must be registered first at the SOL app or branch window. As a result, it will increase face recognition rate and accuracy, while separately storing and managing authentication information jointly with the Korea Financial Telecommunications and Clearings Institute to dispel concerns over security.
Shinhan Bank plans to expand its face authentication ecosystem in cooperation with other industries when data accumulates in the future. In particular, face authentication requires only a camera, so it is cheaper and easier to build than other biometrics.
Staff Reporter Jung, Yerin yeslin@etnews.com