Hana Financial Group has said it will become the first South Korean financial services provider to adopt biometric authentication.Instead of the accessing the authentication certificate provided by financial companies when conducting banking via the internet, the process will be simplified through fingerprint, iris or facial recognition authentication, reports the Korea Joongang Daily. The group will use the government-backed Electronics and Telecommunications Research Institute's FIDO identification technology for access control in online and offline settings, such as Internet banking and safe deposit boxes.”When applying FIDO, safety and convenience will improve sharply as security problems, such as getting one's authentication certificate hacked, will be solved as well as the complicated process of downloading [Microsoft's] ActiveX,” a Hana Financial Group official told the newspaper. “It will be applied in various areas whether online or offline, including internet banking, smartphone banking, tablet PC banking and even on safety deposit boxes,” the official added. “We plan to further strengthen our competitiveness on financial securities through cooperation with ETRI in various areas regarding fintech.”
S Korea finance group to use biometric security
