BUSINESS

Banks to adopt unified authentication certificate in July

By Yonhap
  • Published : May 27, 2018 - 11:36
  • Updated : May 27, 2018 - 11:36

South Korean banks are planning to adopt a unified authentication certificate for online transactions in July to enhance customers' convenience, industry people said Sunday.

Eighteen members of the Korean Federation of Banks plan to introduce the unified certificate named BankSign in July to allow customers to make online financial transactions using their PIN numbers, secret patterns or fingerprints, a bank official said.

Customers can download the BankSign from each bank's application and use it for three years free of charge. The BankSign certificate will be initially available on mobile phones, he said.

This undated Yonhap News TV image shows the authentication process where a customer types in his password to gain access to NH Bank`s Internet banking homepage for transactions. (Yonhap)

Currently, banks issue their own authentication certificate to their customers for mobile transactions on the Internet or mobile phones. (Yonhap)



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