Nonghyup Mutual Finance introduces ‘finger vein certification’ to 4,800 agricultural and livestock cooperatives nationwide

Prevent financial accidents and strengthen internal control by replacing existing authentication tokens

(Seoul = Yonhap News) Reporter Kim Se-rin = Nonghyup Mutual Finance announced that it will sequentially introduce the 'finger vein authentication system', which verifies identity through finger veins, to approximately 4,800 Nonghyup credit offices across the country from the 27th to prevent financial accidents and strengthen internal control.

Finger vein authentication is a biometric authentication method that utilizes the vein pattern inside the finger, which is different for each individual. It has a lower risk of duplication and theft than existing authentication tokens, and can improve the security of financial terminal access control and manager approval procedures.

Nonghyup Mutual Finance expects that work convenience will be improved by reducing the burden of separately storing and managing authentication tokens.

The IT Strategy Headquarters of the National Agricultural Cooperative Federation has been promoting system development since last June, and pilot operations have been conducted at Jirisan Cheonghak Agricultural Cooperative, Anyang Agricultural Cooperative, and Paltan Agricultural Cooperative since the 16th of this month.

In the pilot operation, system stability and applicability to actual work were checked and user convenience was improved by reflecting field opinions.

Seong-Hoon Yoon, CEO of Nonghyup Mutual Finance, said, “The introduction of a biometric authentication-based internal control system is an important turning point for preventing financial accidents and strengthening internal control.” He added, “We will continue to improve the safety of financial operations and create a financial environment that customers can use with confidence.”