Yesterday we reported that Samsung revealed that they are planning on bringing the Galaxy Note 7’s Iris Scanner to mid-range handsets. Samsung also revealed that they had grander plans for the technology apart from merely unlocking phones, and they even cited banks as a potential industry that could leverage the technology.
Turns out that Samsung was right because according to reports, it seems that there are a couple of banks in South Korea that are already planning on using the technology. These banks are the KEB Hana Bank and the Woori Bank. Both banks are reportedly working on apps that would be able to make use of the Iris scanning feature on the phone, one of which is a feature called Selca Banking.
For those unfamiliar, Selca is a term used in Korea to indicate selfies (“self camera”), so basically the iris scanner could scan the person’s eyes as if they were taking a selfie to identify themselves. Other banks such as Shinhan Bank and KB Kookmin Bank are reportedly working on similar features as well.