DGB Daegu Bank to protect mobile banking transactions with quantum cryptography

Friday 28 August 2020 09:44 CET | News

Korean bank DGB Daegu has announced that transactions conducted by customers via its mobile banking app on a Samsung Galaxy A Quantum 5G smartphone will soon be secured with 5G quantum cryptography.

5G quantum cryptography technology can generate true random numbers to encrypt one-time passwords and identity verification information. The app will be integrated with mobile network operator SK Telecom’s quantum random number generator (QRNG) chipset embedded in the Samsung Galaxy A Quantum smartphone.

As a result, users’ personal information will be protected by encryption based on genuinely unpredictable random numbers whenever they open a new account or make money transfers using IM Bank.

According to NRC world, SK Telecom developed the chipset with quantum security developer ID Quantique and declared that the companies are currently considering applying their quantum cryptography technologies to other services of DGB Daegu Bank.
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Keywords: DGB Daegu, ID Quantique, quantum computing, mobile banking, online banking, South Korea, fraud prevention, quantum cryptography, 5G
Categories: Banking & Fintech
Countries: Korea, Democratic People's Republic of
This article is part of category

Banking & Fintech