Shinhan Bank secures and simplifies mobile banking service with Trustonic

12 December 2017, Cambridge UK and Seoul, S. Korea – Shinhan Bank has worked with Trustonic and ATsolutions to integrate and secure its one-time password (OTP) service into the domestic S-Bank mobile banking application and a global S-Bank solution for Vietnam, with more deployments to follow. This new solution delivers a simpler, faster and safer user experience.

“We are known for innovation and want to provide our customers with secure and convenient services.” comments Kil-Woo Kim, Team Manager of the Digital Channel Division at Shinhan Bank. “For many years, consumers have needed to carry separate tokens to authenticate money transfers. In today’s digital world, this impacts the user experience and is expensive for banks to implement. With Trustonic and ATsolutions, we have been able to integrate this functionality in a secure way, enabling our customers to manage their money whenever and wherever they need to.”

The Trustonic Application Protection (TAP) solution safeguards the app’s OTP engines on any smartphone, including its secret cryptographic keys. The OTP is generated by simply clicking a button in the application when authenticating a money transfer.

“This has been a special collaboration, as we have improved the user experience while maintaining security.” says Ben Cade, CEO at Trustonic. “Consumers expect to be able to manage their lives on their smartphones and it is up to us as technologists to make that happen in a secure, scalable and user-friendly way. TAP’s ability to achieve these goals is driving huge demand from financial institutions.”

Jong Seo Kim, CEO of ATsolutions, adds: “This contract was won because of our joint work with Trustonic. By securing our OTP platform with Trustonic’s technology, we delivered a unique solution to market. It is this dedication to meeting the needs of our customers that has realised Shinhan Bank’s vision of seamless user authentication. Delivering increased security to our partners while simultaneously enhancing the user experience is a significant and rare achievement and we look forward to working with Shinhan Bank and Trustonic on further projects soon.”

To find out more about Trustonic, visit the website and blog.

About Shinhan Bank

Shinhan Bank has paved the way for digital banking with the launch of a mobile banking service called S-Bank in 2010. The renewal of S-Bank in 2016 has enabled customers to get customized mobile banking services and Shinhan Bank has become the first Korean financial institution to implement a non-face-to-face identity confirmation process.

Moreover, Shinhan Bank has enhanced mobile banking security through the implementation of bio recognition authentication (Pulse, iris, fingerprint) and worked continuously to digitize banking services for its customers’ convenience. Shinhan Bank is planning to launch various new innovative services, such as voice recognition, in the future by forming partnership with a variety of technology providers.

Learn more about Shinhan Bank at www.shinhanglobal.com

About Trustonic

Trustonic is a venture formed in 2012 by blue chip leaders in the semiconductor industry (ARM) and digital security (Gemalto). Trustonic’s mission is to protect, enrich and simplify people’s digital lives by enabling optimum security on all smart connected devices and associated services and applications. Trustonic has already pioneered the adoption of advanced Trusted Execution Environment (TEE) security technology into the world’s leading mobile devices, such as those from Samsung, vivo, OPPO, Xiaomi, LG, Meizu and Gionee, and has working solutions today underpinning Samsung Knox, Samsung Pay, Alipay and Symantec VIP. Trustonic Application Protection (TAP) gives app developers a single set of APIs to enable market-leading protection for mobile apps and associated sensitive data across any device.

About ATsolutions

ATsolutions is a pioneer in delivering trust and business productivity solutions to the digital market. ATsolutions develops next generation technologies (‘Smart Pass’) that enable lots of financial institutes and banks to achieve their digital agenda, deliver an enhanced customer experience and meet regulatory requirements. ATS’s TEE and TAP based solutions combine to form a powerful trust platform that empowers businesses by incorporating identity, fraud prevention and mobile application protection. Learn more about ATsolutions atwww.atsolutions.co.kr