Previously, KEB Hana customers had to download digital certificates and then punch in their passcodes every time they wanted to confirm transactions using the app, but now they can use fingerprint scans to authorize most mobile transactions, including e-transfers and even loan registration. The system still requires users to enter security numbers from their cards or one-time passwords, but the fingerprint scan is thought to offer a considerable upgrade in user convenience.
That was the bank’s goal. Speaking to Korea JoongAng Daily, KEB Hana executive Han Joon-seong said the bank’s mindset used to be “that security and convenience are two contradictory concepts,” but with the development of fingerprint biometrics technology, “we realized the two goals can be achieved simultaneously.”
While many other banks around the world have also been keen to take advantage of the fingerprint scanners found on increasing numbers of smartphones, KEB Hana’s new solution is notably FIDO Certified. Given the sophistication of FIDO’s authentication security protocols, KEB Hana customers can rest assured that they are getting an advanced level of security as they take advantage of the mobile app’s biometric login system.
Source: Korea JoongAng Daily
February 3, 2016 – by Alex Perala