Blockchain Streamlines Loan Service for Retired Civil Servants

Crypto
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author: CryptoNews

date: November 05, 2025

1 min. read

The Korea Financial Telecommunications and Clearing Institute (KFTC) is set to revolutionize loan services for retired civil servant pensioners using blockchain technology. Launching on the 5th, this initiative, a collaboration with the Government Employees Pension Service (GEPS) and 11 financial institutions, promises a more efficient and secure loan application process. This blockchain-based system enables pensioners to instantly issue and verify digital pension payment confirmation documents when applying for loans. Previously, preparing these documents was a time-consuming step. Now, through the financial joint blockchain, this process is streamlined. Furthermore, the use of blockchain technology significantly enhances security. The system effectively eliminates the risk of forgery or alteration of pension payment information, providing a more trustworthy foundation for loan applications. This innovative approach improves the loan application experience for retired civil servants and enhances the integrity of the financial system. ```