Woori Bank is enhancing its internal controls by implementing a fingerprint authentication system in the software used at its international branches, the lender said Sunday.
Woori Bank is the first Korean commercial bank to adopt this technology for its overseas operations. The system uses advanced encryption to securely manage data through fingerprint verification, allowing employees to access the bank's computerized system and perform tasks.
This innovation is aimed at preventing financial accidents and compliance failures, such as unauthorized access and improper task delegation among employees.
According to the bank, the fingerprint verification system has already been implemented in 10 overseas branches, including in Bahrain, Tokyo, Sydney, Hong Kong, Singapore, New York and London. The bank plans to roll out the system across all its global branches by the first half of next year.
"We have strengthened the internal controls of our overseas operations to match those of our domestic operations with the introduction of this fingerprint verification system. We are committed to completing this initiative, attempted first among all commercial banks, and setting Woori Bank’s own success model for enhancing financial services," a Woori official said.
