Shinhan Bank announced on Oct. 18 that it has launched the Video Call Real Name Verification Service for Foreigners to enhance convenience in digital financial services for foreign customers.
The Video Call Real Name Verification Service for Foreigners enables foreign customers of the bank to verify their real names via video calls with counselors when opening bank accounts through Shinhan SOL Bank.
The service is available to foreign customers with an alien registration card.
So far, foreign customers have been able to verify their real name in person at a branch or through transfers of one won to existing bank accounts.
With the Video Call Verification Service for Foreigners, a dedicated counselor will verify the authenticity of the customer’s alien registration card and complete the verification process via video calls with customers.
The service is available in 15 languages including English, Chinese, and Vietnamese.
Shinhan Bank announced on Oct. 18 that it has launched the Video Call Real Name Verification Service for Foreigners to enhance convenience in digital financial services for foreign customers.
Shinhan Bank has been providing new non-face-to-face services for deposit and withdrawal accounts and debit cards for foreign customers living in Korea since June.
This Video Call Real Name Verification Service for Foreigners is expected to further boost the convenience of digital finance for foreign customers.
Meanwhile, Shinhan Bank has been launching various services to enhance the convenience of digital finance, following Shinhan Financial Group Chairman Jin Ok-dong’s strategic direction for digital innovation.
Jin has emphasized that digital innovation is based on customer-comes-first thinking and the direction of digital innovation should be beneficial to customers and promote justice for society.
Agreement to Rev Up Digital Trade Finance
Shinhan Bank announced on Oct. 30 that it has signed a strategic business agreement with POSCO INTERNATIONAL to activate electronic trade transactions and take the lead in the digitalization of trade finance.
Through this business agreement, Shinhan Bank and POSCO INTERNATIONAL will cooperate in various ways including strengthening trade finance collaboration through e-transactions, developing online and offline platform-based financial products, promoting convergence partnership projects and collaborating by utilizing the domestic and international networks of both companies.
In August, the two companies successfully conducted a digital trade finance transaction using Electronic Shipping Solutions-Documents (Ess-Docs). Ess-Docs is a digital platform that enables importers and exporters, shipping companies and banks to participate in international trade transactions to create and manage electronic documents, and safely conduct transactions through digital import and export documents.
“We expect that Shinhan Bank’s business agreement with POSCO INTERNATIONAL will increase both companies’ digital competitiveness in the import and export business,” a Shinhan Bank official said.
“We will continue to strengthen our partnership for both companies’ win-win growth and continue to promote management for customers and society.”
Agreement on QR Payment Service in China
Shinhan Bank announced on Oct. 17 that it inked a business agreement with Shinhan Card and China’s Bank of Communications at the Seoul branch of the Chinese bank in Jung-gu, Seoul, to introduce a QR payment service for SOL Travel Card in China.
Shinhan Bank plans to launch the SOL Travel Card QR Payment Service in China in the first half of 2025 through collaboration with Shinhan Card and the Bank of Communications to expand payment convenience in China.
The introduction of the SOL Travel Card QR Payment Service will empower customers who hold the SOL Travel Card to easily pay with QR codes using SOL Pay Application on their smartphones in China.
Shinhan Bank and Transport Bank will oversee the Chinese yuan settlement business. Shinhan Card will be responsible for card transactions and QR code generation.
The Bank of Communications will cover card settlement work with Net Union Clearing Corporation, China’s QR settlement company.
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