ATM Archives | Be Korea-savvy
Shinhan Bank to Introduce AI-based ATMs to Prevent Voice Phishing

Shinhan Bank to Introduce AI-based ATMs to Prevent Voice Phishing

SEOUL, March 8 (Korea Bizwire) — Major South Korean lender Shinhan Bank said Monday it will introduce artificial intelligence (AI)-based automated teller machines (ATMs) that detect abnormal activities to prevent voice phishing. The new ATMs detect a user’s suspicious activities, such as talking on their cell phone while using the machine or wearing sunglasses or [...]

Customers Inconvenienced as Bank Branches Disappear at a Rapid Pace

Customers Inconvenienced as Bank Branches Disappear at a Rapid Pace

SEOUL, Nov. 25 (Korea Bizwire) — Along with the growth of non-face-to-face financial transactions resulting from the COVID-19 pandemic, bank branches are disappearing at a rapid pace in South Korea. Against this backdrop, there is concern that this development could make banking significantly more inconvenient for elderly people, many of whom are not familiar with [...]

Credit Card Companies Cut Overseas ATM Withdrawal Limits

Credit Card Companies Cut Overseas ATM Withdrawal Limits

SEOUL, May 26 (Korea Bizwire) — South Korea’s credit card companies are cutting overseas automated teller machine (ATM) withdrawal limits as part of their risk management efforts. The nation’s largest credit card company, Shinhan Card Co., announced on Tuesday that it will reduce per-client overseas ATM withdrawal limits to US$50,000 per month starting from next [...]

In-person Money Remittances Wane as Mobile Banking Becomes Ubiquitous

In-person Money Remittances Wane as Mobile Banking Becomes Ubiquitous

SEOUL, Nov. 11 (Korea Bizwire) — Scenes of people remitting money at bank windows are becoming a relic of the past in South Korea. Excluding mobile banking, the classic types of non-face-to-face transactions such as Internet banking, telebanking and automated teller machine (ATM), are also losing popularity across most age groups. Only elderly people older [...]

Institute Uses Big Data to Analyze ATMs

Institute Uses Big Data to Analyze ATMs

SEOUL, Nov. 15 (Korea Bizwire) — A non-profit financial organization has introduced a new service to analyze the usage of ATMs across a number of regions. The Korea Financial Telecommunications and Clearings Institute (KFTC) will begin testing the cash dispensers (CD) and automated teller machines (ATM) operational effectiveness diagnostic services jointly with the banking sector [...]

Allpoint Network and Visa Partner on Convenient Cash Access for Southeast Asian Cardholders Traveling to the United States

Allpoint Network and Visa Partner on Convenient Cash Access for Southeast Asian Cardholders Traveling to the United States

HOUSTON, May 29 (Korea Bizwire) — Visa and Allpoint Network have partnered to make it easier for travelers visiting the United States from Southeast Asia to access their money without paying ATM fees. Under terms of the agreement, enrolled cardholders traveling with Visa travel prepaid cards and debit cards from select financial institutions will enjoy [...]

ATM to Offer Services that Verify Customers Based on “Vein Matchmaking”

ATM to Offer Services that Verify Customers Based on “Vein Matchmaking”

SEOUL, Oct. 25 (Korea Bizwire) – Suhyup Bank announced yesterday that it was adopting a new service that allows customers to access their bank accounts via ATM by merely having the machines scan the veins in their palms. The banking service dubbed “Hands Up banking” is possible when customers are verified simply by presenting their [...]

Ondot’s Mobile Card Controls Provide Protection to Thousands of Banks from ATM Heist Threat

Ondot’s Mobile Card Controls Provide Protection to Thousands of Banks from ATM Heist Threat

Santa Clara, Calif., Aug. 17 (Korea Bizwire) — US mainstream media is reporting on a FBI warning to banks of an impending cybercrime wave targeting ATMs in which thieves seek to steal millions of dollars by using cloned cards for fraudulent withdrawals. Ondot, the global leader in mobile payments services, provides consumers a simple protection [...]