First in the Life Insurance Industry: Shin Kong Life Officially Launches Financial Fast-ID Authentication Service, Effectively Enhancing User Experience and Information Security | Latest News | Shin Kong Life Sustainability

 Shin Kong Life officially launched the Financial Fast-ID authentication service, becoming the first insurance company in the industry to act as both an authentication provider and a relying party.
 

First in the Life Insurance Industry: Shin Kong Life Officially Launches Financial Fast-ID Authentication Service, Effectively Enhancing User Experience and Information Security

Responding to the Financial Supervisory Commission's (FSC) "FinTech Development Roadmap 2.0" policy, Shin Kong Life, a subsidiary of TS Holdings (2887), has actively participated in the government's initiative to establish the "Financial Fast-ID Authentication Switch Center." Recently, its participation in the pilot program was approved by the competent authority for official launch, making it the first insurance company in the industry to serve as both an authentication provider and a relying party simultaneously. In the future, once individuals join the Shin Kong Life member portal and complete their Financial Fast-ID registration, they can use Shin Kong Life's routing for identity verification when applying for specific online services at other insurance institutions. This initiative aims to provide the public with a safer and more convenient digital financial service experience.

The FSC released the "FinTech Development Roadmap 2.0" in 2023, hoping to realize a more inclusive, fair, sustainable, and internationally aligned FinTech ecosystem. Among these initiatives, the "Financial Fast-ID Authentication Switch Center" is a crucial establishment for promoting interoperability and application among different financial institutions, serving as an important part of implementing the inclusive finance philosophy. Shin Kong Life has long been committed to digital service innovation and has established multiple identity verification mechanisms, including "chip financial cards, citizen digital certificates, Mobile ID (MID), and internet banking authentication," making it significantly more convenient for the public to apply for financial services.

By participating in the "Financial Fast-ID" identity verification mechanism pilot project, the company has further introduced a cross-institutional digital identity verification mechanism to connect the current Financial Fast-IDs across various systems, thereby enhancing the consistency and convenience of identity verification. The first wave of applications has been integrated into the "online member registration" and "forgot password reset mechanism" processes. Users can utilize the cross-institutional Financial Fast-ID authentication to complete their registration or set a new password. In the future, when conducting identity verification, customers will be able to complete the process using fingerprint or facial recognition. This simplifies the originally cumbersome operational processes, effectively strengthening the user experience and information security.

Embracing the "Mobile First" spirit, Shin Kong Life has consistently promoted inclusive finance and the spirit of fair treatment of customers. Looking ahead, it will continue to align with the competent authority's policy directions, dedicating itself to providing customers with more diverse, convenient, and secure online services. At the same time, it will continue to expand the Financial Fast-ID identity verification mechanism into more online service scenarios and innovative applications. By enhancing the convenience for customers handling insurance services, Shin Kong Life ensures that insurance services are no longer a tedious procedure, accompanying policyholders toward a comprehensive digital living circle.