P2P payments and messaging with above-industry-standard security : Korea’s KB Kookmin Bank’s latest

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Trustonic and AT solutions have designed an above-industry-standard security system for Korea’s largest bank, KB Kookmin Bank, to ensure maximum security in peer-to-peer (P2P) payment and messaging app.

Branded, ‘Liiv TalkTalk’, the app will be an encrypted and secure facility utilising the Trustonic Application Protection (TAP) solution.

The design offers maximum protection to the bank’s and user’s data as it travels across the full range of Android and iOS devices.

KB Kookmin Bank launched Liiv TalkTalk to its 30 million customers in July 2017, covering prime consumer and business segments.

The first of its kind in the country to offer the app in financial services with total security, the product addresses critical financial services including P2P payment, pension, credit card and savings account enquiries – via interactive messaging.

The bank utilised the TAP solution to enhance its existing security infrastructure by securing the private keys used to decode chat messages.

It is the world’s first P2P payments and messaging app to be protected by TAP.

Also added to Liiv Talk Talk, is a safe and easy authentication service – thanks to the state-of-the-art tech applied to the bank’s storage of authentication data.

Hyoung Joo Park, General Manager, Smart Strategy Dept., KB Kookmin Bank, commented: “We take the protection of both our customers’ data and our applications very seriously…We are confident that Liiv TalkTalk can offer a complete banking platform based on secured messaging and will continue to extend the services that it offers”

Comments Ben Cade, CEO of Trustonic. “Consumers need to feel safe when using services and any data theft can lead to both financial loss for individuals and to irreparable damage to brands…we are seeing a huge increase in demand for on-device software and hardware protection.”

Adding to the sentiment, Jong Seo Kim, CEO of ATsolutions, said: “We are now looking ahead and plan to continue to expand the use of TAP into new business areas.”

 

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