Trustonic to safeguard Korea-based authentication service provider

Wednesday 14 March 2018 00:04 CET | News

Korea`s centralised One Time Password (OTP) authentication service provider KFTC has partnered with Trustonic to secure authentication of mobile financial services and transactions.

Korea Financial Telecommunications and Clearings Institute (KFTC) has launched a secure, digital one-time-password (OTP) service, which has already been integrated by KDB Bank and is now available for end users of financial institutions such as banks, lenders, traders and insurance companies across Korea.

Trustonic is a joint venture with a mission to protect people’s digital lives by enabling security on all smart connected devices and associated services and applications. Using Trustonic’s APIs, the OTP generator is secured in the hardware of the device. In addition, this solution boosts the security levels, when compared to software-protected second factor authentication, by using TrustZone technology and a Trusted User Interface.

KFTC integrated Trustonic’s solution into its service, enabling applications downloaded to a Trusted Execution Environment (TEE) enabled smartphone or tablet to generate OTPs at the click of a button before displaying them to the user.

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Keywords: Trustonic, Korea, OTP, security, authentication, mobile banking, financial institutions
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime