Privakey Partners with FIDO Board Member Raonsecure to Deliver Joint Solution to North American Market

By Jessica Donofrio 1 month ago

Privakey is pleased to announce a partnership with Raonsecure, a Seoul based ICT integrated security company and board member of the FIDO Alliance.

The partnership will bring a combined technology solution to the North American market, which includes Privakey’s secure, push authorization platform and Raonsecure’s full suite of FIDO certified authentication products.  The joint solution will enable clients to deliver exceptional experiences secured by asymmetric cryptography and enable the extension of biometric identification to many new touchpoints.  Customers will enjoy eliminating passwords, SMS one-time passcodes and knowledge based authentication from their daily interactions with their banks, healthcare providers and other services.

Privakey’s Chief Revenue Officer, Patrick Kelly said of possibilities with this new partnership, “Imagine interacting with your bank where passwords are replaced with facial recognition, knowledge based questions are eliminated in the call center, and forms and documents can be completed conveniently on your phone with the backing of secure biometrics.”

“With Privakey, Raonsecure has found a great partner to bring South Korea’s most-deployed FIDO authentication solution to North America—an important biometric authentication market,” said Kim Chang-soo, Executive Director of Global Business for Raonsecure. “Customers will soon be able to use a next-generation authentication platform that combines enhanced ease-of-use and greater security.”

Raonsecure is proud to boast over 30 million South Korean users with vast adoption in the consumer banking and payments industries. Stay tuned as we plan to share more information in the coming weeks our solution and industry use cases.

 

About Privakey

Privakey’s embedded software solution transforms existing mobile apps into strong customer authorizers, streamlining many existing workflows.   Services use Privakey to send users challenges—a new form of secure engagement within apps. Challenges include traditional identity assertions, confirmations of intent and any type of message that may require a response.  Challenges can be as simple as a Yes/No response from a user, to as rich as digitally approving actionable contract terms.

Our solution works by turning users’ mobile phones into cryptographically-based, secure customer identifiers.  Customers using Privakey-enabled apps simply respond to challenges delivered to their phones with a message body that can contain any type of interactive digital content such as HTML, PDFs and forms.  Once the user has responded to a challenge, it is digitally signed and returned to the sender. To ensure a frictionless, but secure user experience, challenges can be configured to require a user assert a biometric or PIN as a second factor of assurance.

About Raonsecure

Raonsecure Co Ltd (Raonsecure) is one of Korea’s leading ICT security software companies – providing a variety of PC and mobile security solutions to financial institutions, government, and enterprise both on premise as well as in the cloud. Raonsecure supplies security products and solutions, as well as ICT security consulting services to more than 500 customer organizations and its products are used by more than 30 million users.

Joining the FIDO Alliance in 2015, Raonsecure launched its TouchEn OnePass biometric authentication solution with the first group of certified FIDO products in May, 2015. Since that time, it has deployed biometric authentication for numerous banks and financial services institutions in Korea. The company has also expanded internationally, with offices in the USA in San Jose, CA and Austin, TX.

About FIDO

The FIDO (Fast IDentity Online) Alliance, www.fidoalliance.org, was formed in July 2012 to address the lack of interoperability among strong authentication technologies, and remedy the problems users face with creating and remembering multiple usernames and passwords. The FIDO Alliance is changing the nature of authentication with standards for simpler, stronger authentication that define an open, scalable, interoperable set of mechanisms that reduce reliance on passwords. FIDO Authentication is stronger, private, and easier to use when authenticating to online services.

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