13th September 2017 – Korea’s largest bank, KB Kookmin Bank, has worked with Trustonic and ATsolutions to secure its new peer-to-peer (P2P) payment and messaging app, Liiv TalkTalk. The state-of-the-art Trustonic Application Protection (TAP) solution encrypts and secures both the bank’s and end users’ data across the full range of Android and iOS devices.
KB Kookmin Bank launched Liiv TalkTalk to its 30 million customers in July 2017 and it offers encrypted messaging for both consumers and businesses. It is the first app in Korea to provide financial services - such as P2P payment and pension, credit card and savings account enquiries - via interactive messaging. In order to enhance its existing security infrastructure, KB Kookmin has used the TAP solution to protect personal and financial data 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. The bank has also added TAP to the Liiv app to provide a safe and easy authentication service, in particular through the secure storage of authentication data.
Hyoung Joo Park, General Manager of the Smart Strategy Dept. at KB Kookmin Bank commented: “We take the protection of both our customers’ data and our applications very seriously. We needed to ensure the integrity of our new app, which combines social media and financial services, across all devices. With ATsolutions and Trustonic working with our agile team we have achieved that goal in just 35 working days. 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. We are now looking at other areas where both KB Kookmin Bank and our customers can benefit and look forward to bringing further updates soon.”
“Connected devices are being used to perform increasingly sensitive tasks, which makes them extremely interesting to hackers and fraudsters” 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. This is why application protection has never been more important. We’re seeing a huge increase in demand for on-device software and hardware protection and we look forward to continuing our work with KB Kookmin Bank.”
Jong Seo Kim, CEO of ATsolutions, said: “We have taken great care to prioritize the customer’s security and convenience by embedding TAP into KB Kookmin Bank’s Liiv TalkTalk, Liiv and ATsolutions’ Smartpass, delivering an easy and reliable authentication service. We are now looking ahead and plan to continue to expand the use of TAP into new business areas.”
To find out more about Trustonic, visit the website and blog.
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For further information please contact Rob Peryer or Erin Lovett at iseepr on: +44 (0) 113 350 1922, or email rob@iseepr.co.uk / erin@iseepr.co.uk
Notes to editors
About KB Kookmin Bank and KB Financial Group Inc.
KB FGI is a comprehensive financial group with 422 trillion KRW in assets (as of June 2017) and the largest domestic customer base, as well as the widest network of service branches in Korea.
KB Financial Group was founded on September 29, 2008 to effectively cope with rapidly changing financial environment at home and abroad. We are the nation’s largest financial group, providing comprehensive financial service in a wide variety of areas, including banking, investment and insurance. There are currently 12 subsidiaries in the Group.
KB Kookmin Bank was founded through the consolidation between the former Bank and the former Hounsing & Commercial Bank in 2001. Boasting a strong brand power and wide network of distribution channels, Kookmin Bank has attracted more than 30 million customers and has ranked first at the National Customer Satisfaction Index (NCSI) ten times - a first in the banking sector.
About Trustonic
Trustonic is a venture formed in 2012 by blue chip leaders in the semiconductor industry (ARM) and digital security (Gemalto). Trustonic’s mission is to protect, enrich and simplify people’s digital lives by enabling optimum security on all smart connected devices and associated services and applications. Trustonic has already pioneered the adoption of advanced Trusted Execution Environment (TEE) security technology into the world’s leading mobile devices, such as those from Samsung, vivo, OPPO, Xiaomi, LG, Meizu and Gionee, and has working solutions today underpinning Samsung Knox, Samsung Pay, Alipay and Symantec VIP. Trustonic Application Protection (TAP) gives app developers a single set of APIs to enable market-leading protection for mobile apps and associated sensitive data across any device.
About ATsolutions
ATsolutions is a pioneer in delivering trust and business productivity solutions to the digital market. ATsolutions develops next generation technologies (‘Smart Pass’) that enable lots of financial institutes and banks to achieve their digital agenda, deliver an enhanced customer experience and meet regulatory requirements. ATS’s TEE and TAP based solutions combine to form a powerful trust platform that empowers businesses by incorporating identity, fraud prevention and mobile application protection. Learn more about ATsolutions at www.atsolutions.co.kr
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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/38ed0046-a82b-4b03-a424-fd3ad8846262