Biometric firm Daon has announced today the appointment of the Korea Smart Authentication Corp (KoSAC) as Daon's strategic partner. The two companies see tremendous market opportunity in South Korea, one of the most mobilized and digital economies in the world.Government regulation changes related to online authentication requirements for financial services, and Korea's pro-FinTech stance, make this a high potential market for mobile biometric authentication. KoSAC believes the most important ingredient for a growing digital economy is strong personal authentication. As a result KoSAC will be the official Korean partner to offer Daon's IdentityX Platform for convenient and secure authentication using biometrics.Interest in adopting Daon's mobile biometric authentication has already gained traction in the market. One of KoSAC's clients, the Korea Appraisal Board (KAB) became the first user of the technology in the public sector for real estate appraisers. Another client in financial services, Yelopay, a subsidiary of Interpark, has contracted KoSAC to introduce biometric technology into their mobile application to support cross border payments.”We are pleased to bring our unique biometric capabilities and expertise to the Korean market through a great partner with a strategically complementary business strategy,” said Tom Grissen, chief executive officer at Daon. “KoSAC is an entrepreneurial partner bringing significant market experience, an extensive network of business contacts and technology partners, and their own technology delivery services.””Together KoSAC and Daon will provide a fast and convenient means to authenticate end customers which will help our clients to secure, maintain and grow their business through a combination of strong authentication and better end user engagement” said Mr Kibong Moon, Founder and CEO of KoSAC.
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