IBK Bank has introduced a digital financial service that allows domestic financial transactions to be delegated without international mail.
On August 4, IBK Bank announced that it began offering the 'Digital Consular Certification Financial Power of Attorney Service' for overseas Koreans starting July 30.
The digital consular certification financial power of attorney allows users to send a power of attorney verified by a consulate in electronic document form to financial institutions, enabling verification of its authenticity.
Previously, overseas Koreans had to send a paper power of attorney, verified by a consulate, via international mail to delegate domestic financial tasks. This process was time-consuming and costly, with the risk of documents being lost during transit.
With the introduction of this service, powers of attorney can now be transmitted electronically to banks, allowing for quicker processing of domestic financial transactions while abroad. The service reduces the risk of forgery and enhances personal data protection by verifying the authenticity of the electronic documents.
An IBK Bank official stated, "We expect that the convenience of financial services for overseas Koreans will significantly improve, and we will continue to expand customer-centric financial services utilizing digital technology."
* This article has been translated by AI.
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