[DigitalToday reporter Sangyeop Oh] Shinhan Bank is teaming up with E9pay to simplify account opening procedures to improve convenience for foreign customers living in South Korea.

Shinhan Bank said on the 18th it will implement the 'SOL Global account and debit card' innovative financial service with E9pay. The service is designed to help foreign customers using E9pay more conveniently use Shinhan Bank deposit and withdrawal accounts and debit cards.

With customer consent, E9pay member information is linked to Shinhan Bank's non-face-to-face account opening process. It reduced the inconvenience of repeatedly entering the same information during account opening.

Language support was also strengthened. The plan is to reduce difficulties foreign customers face in using financial services because of language differences by using E9pay's 20 languages and Shinhan Bank services based on 16 languages.

A regulatory exemption related to agency and brokerage of financial product sales was also applied so that E9pay, a non-financial company, can directly advertise Shinhan Bank's 'SOL Global account' and broker account opening.

As a result, foreign customers can check information on Shinhan Bank financial products on the E9pay platform they regularly use and proceed through the account opening process.

A Shinhan Bank official said, "This service has made it possible for foreign customers to check financial products and conveniently complete account opening on the platform they use frequently." The official added, "We will continue to strengthen channels and services tailored for foreigners so they can face lower barriers to financial services and use our services."