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ATON Sets Highest Record in its History with Mobile OTP Solution

Release Date
2019-04-09 11:20

ATON Sets Highest Record in its History with Mobile OTP Solution




 

April 9, 2019 – Fintech security firm ATON (CEO Kim Jong-seo) has announced its 2018 results. Both its sales and its earnings increased substantially over the previous year, leading ATON to its best results in its history. Annual earnings had grown over 6 times compared to the previous year to reach 4.09 billion won.

ATON declared that these results had been driven by its well-known fintech security solution ATON mOTP.

ATON mOTP is a mobile OTP solution used in the financial sector. After its introduction in October of 2017 by Shinhan Bank and KB Securities, it developed rapidly, becoming adopted by the Nonghyup Bank, Shinhan Investment, and SBI Savings Bank in 2018. This solution reached 1 million licensed sales in February, 2018 and then over 3 million total license sales by October of that year, driving ATON’s external growth.

The ATON mOTP conducts OTP authentication in a separate area from general apps through a virtual secure element so that it is far more secure. This supports Shinhan Bank’s transfer limits of 100 million won per transfer and 500 million per day with OTP just as with tokens. In comparison, mobile OTP provided by other companies only allows up to 10 million won per transfer and 50 million won per day at other financial institutions.

This also greatly increased profitability by allowing a virtuous cycle of efficiency in development costs based on economy of scale and a higher technological level by using the ATON mSafeBox, a self-developed secure software element solution, for the first time in Korea.

The ATON is aggressively expanding sales of its fintech security solutions and technical development as well in 2019 to continue its growth. It expects to continue releasing new solutions based on its competence using secure elements and leading fintech security/certification technology and to keep entering other markets through pro-active marketing of its simple certification services and fintech security solutions.

ATON CEO Kim Jong-seo was quoted as saying, “Amidst fierce competition in 2018, we made efforts to grow in the solution sector and reached historical highs in both sales and profitability while laying the foundation for a new corporate move forward. We will keep developing our technology so that our new solutions and services can grow quickly and will do our best to promote results.”