Press

ATON is
leading the path to
change our society

Press Release

ATON Provides Mobile OTP to Shinhan Vietnam’s Mobile Banking SOL

Release Date
2019-06-03 11:25

ATON Provides Mobile OTP to Shinhan Vietnam’s Mobile Banking SOL



  • Better security using white-box cryptography

  • Overseas export of fintech security solution


 



 

June 3, 2019 – Fintech security firm ATON (formerly known as AT Solutions) announced on the 3rd that it has signed a licensing contract for its mobile OTP solution with Shinhan Bank Vietnam.

ATON’s mobile OTP provided to Shinhan Bank Vietnam generates a one-time password within the mobile banking app SOL to allow all kinds of transactions including transfers. Customers using the mobile OTP can perform transactions with ease with no need for a physical OTP device or security card.

Security is especially enhanced thanks to ATON’s use of its white-box cryptography technique in the mobile OTP provided to Shinhan Bank Vietnam. White-box cryptography is a technique that prevents exposure or leakage of encryption or decoding with an encryption key using software within a smartphone. Its greatest advantage is that it can be used safely for encryption even on unsecured smartphones.

ATON’s white-box cryptography technology is already used by many financial organizations, including KB Bank, Industrial Bank of Korea and K Bank’s private authentication solutions and Shinhan Bank, Nonghyup Bank, KB Securities, Shinhan Investment and SBI Savings Bank’s mobile OTP services.

Shinhan Vietnam Bank plans to improve its competitiveness as a leading digital bank by providing a more convenient user service through the introduction of mobile OTP.

Woo Gil-su, leader of ATON’s Solutions Division, was quoted as saying, “ATON’s white-box cryptography has already been proven through its use by various Korean financial institutions. Beginning with this contract, we hope to actively expand our market including overseas sales ratios for our fintech security solutions.”