Seoul, 05510,
South Korea
Suhyup Bank Technographics
Discover the latest software purchases and digital transformation initiatives being undertaken by Suhyup Bank and its business and technology executives. Each quarter our research team identifies on-prem and cloud applications that are being used by the 2000 Suhyup Bank employees from the public (Press Releases, Customer References, Testimonials, Case Studies and Success Stories) and proprietary sources.
During our research, we have identified that Suhyup Bank has purchased the following applications: OmniOne Blockchain for Blockchain Platform in 2021 and the related IT decision-makers and key stakeholders.
Our database provides customer insight and contextual information on which enterprise applications and software systems Suhyup Bank is running and its propensity to invest more and deepen its relationship with RaonSecure or identify new suppliers as part of their overall Digital and IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.
We have been analyzing Suhyup Bank revenues, which have grown to $520.0 million in 2024, plus its IT budget and roadmap, cloud software purchases, aggregating massive amounts of data points that form the basis of our forecast assumptions for Suhyup Bank intention to invest in emerging technologies such as AI, Machine Learning, IoT, Blockchain, Autonomous Database or in cloud-based ERP, HCM, CRM, EPM, Procurement or Treasury applications.
Blockchain
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
| RaonSecure | Legacy | OmniOne Blockchain | Blockchain Platform | Blockchain | n/a | 2021 | 2021 |
In 2021, Suhyup Bank implemented OmniOne Blockchain as part of Korea’s BankID decentralized identity rollout, deploying the solution within the Blockchain Platform category. The deployment was part of a multi-bank consortium led by the Korea Financial Telecommunications and Clearings Institute and Raon White Hat, a RaonSecure subsidiary, with Suhyup Bank joining a cohort expanding to 16 participating banks by the end of 2021.
The implementation centers on the MyInfo decentralized identity service and a consumer smartphone wallet, with capabilities for verifiable credential issuance, DID provisioning, and biometric or bio identity capture such as facial recognition. OmniOne Blockchain was used to issue and anchor identity artifacts that include mobile phone number, address, and e mail, enabling one time identity proofing for downstream retail banking workflows including bank login authentication and onboarding for advisory services.
Integration and operational coverage extend across participating retail banking channels rather than a single product silo, enabling cross bank credential sharing when a customer applies at a different participating bank. The technical arrangement reflects W3C compliant DID constructs according to public reporting, and the analyst note indicates verifiable credential issuance information and the decentralized identifier are believed to be stored on the blockchain in this implementation, which informs how relying parties validate credentials.
Governance is consortium driven under the Financial Distributed ID Promotion Council with RaonSecure and KFTC membership in national DID initiatives, and a stated roadmap to extend bank issued verifiable credentials to non bank scenarios such as tenancy credit proofs. Public reporting flags a privacy risk, noting that storing DIDs or issuance records on chain can create an extensive digital trail that could be correlated to personal identity, and the implementation therefore sits at the intersection of standards compliance and privacy trade offs.
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