SK Telecom has developed an identity verification technology using smart watches and won an international certification from the Fast Identity Online Alliance, the company said Wednesday.
The FIDO certified technology enables users to replace existing USB flash drives or one-time password tokens with a smart watch for verification required for online financial transactions.
All a user needs to do is tap the screen of his or her smart watch that has been registered for verification with financial institutions.
All data processing has been strongly encrypted, the company said. If the smart watch is lost, the verification function can be nullified with a Kill Switch feature.
The smart watch identity verification solution will be provided to financial institutions, portal site operators and application developers. It is not available for commercialization yet, according to the company.
By Song Su-hyun (firstname.lastname@example.org