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ATON Supplies Private Authentication System to Industrial Bank of Korea’s i-ONE Bank

Release Date
2019-06-11 11:27

ATON Supplies Private Authentication System to Industrial Bank of Korea’s i-ONE Bank



  • Completes private authentication solution using white-box cryptography


 



 

June 11, 2019 – Fintech security firm ATON (formerly AT Solutions) revealed on the 11th that it has supplied the private authentication system for the Industrial Bank of Korea’s (IBK’s) mobile banking app i-ONE Bank.

ATON replaced the private authentication solution built by IBK on the 5th, completely overhauling i-ONE Bank (personal)’s existing certification and additional means of authentication.

This private authentication for i-ONE Bank provides a simple login process using a pattern, fingerprint or facial recognition without the need for complicated authentication and all banking including transfers, memberships and transactions can be done with a 6-digit PIN.

The white-box cryptography technique used improves security and allows transactions up to 50 million won per day without authentication or additional certification based on its secure technology. This is the highest limit among private certification systems that do not use authentication and is valid for 3 years so customers do not experience the inconvenience of updating their certification annually.

White-box cryptography is a technique that prevents exposure or leakage of encryption or decoding with an encryption key using software within a smartphone. It can be used safely even on unsecured smartphones.

ATON CEO Kim Jong-seo said, “Customers have long been inconvenienced by financial transaction security issues and complicated certification processes,” and added, “We plan to expand the private authentication market based on ATON’s white-box cryptography and our considerable experience in building private authentication for financial use.”

He went on to note, “ATON’s private authentication solution was already used by KB Bank for the first time in Korea in 2016. We intend to expand its use to other domestic banks including K Bank to provide better security for even more customers.”

Founded in 1999, ATON is a security solution provider that can offer secure yet simple fintech services to financial organizations.