Shinhan Bank and the State Bank of Vietnam have announced that they are planning to work together on an e-Know Your Customer (e-KYC) system.
This system is expected to boost mobile financial services in the country, as well as Shinhan Bank’s online account opening system in Indonesia is expected to be approved by the local authorities in November 2019.
In June 2019, Shinhan Bank and the central bank of Vietnam had a meeting in order to discuss the introduction of the e-KYC system for non-face-to-face identification. Once Shinhan Bank’s online identification service takes root in Vietnam, mobile financial services of the other South Korean banks in Vietnam can be boosted.
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