[Click eStock] "RaonSecure, Expansion of Next-Generation Biometric Authentication Technology Application Scope Expected"

[Asia Economy Reporter Eunmo Koo] Considering the expected expansion of the application scope of next-generation biometric authentication technology, there is an analysis that RaonSecure’s growth potential, based on mobile biometric authentication security technology, is high.

RaonSecure is a company growing based on mobile biometric authentication security technology. It has secured the largest number of biometric authentication implementation cases in Korea by being the first domestic provider of not only mobile security solutions and PC security solution technologies but also the FIDO (Fast IDentity Online) biometric authentication platform technology. Additionally, it is developing an identity verification platform using blockchain decentralized identity (DID) and a next-generation integrated biometric authentication technology that does not require a public certificate, which is about to be commercially applied.

As of last year, the sales composition consists of mobile security 42.5%, PC security 16.6%, integrated access management 9.0%, ubiquitous PKI 3.3%, and other solutions 28.6%, with over 500 companies including financial and public institutions as customers.

Researcher Jaehun Kim of Mirae Asset Daewoo emphasized in his report that attention should be paid to the expected expansion of the application scope of next-generation biometric authentication technology. RaonSecure is developing next-generation mobile-based biometric authentication technology that combines blockchain and biometric authentication technology, which is about to be applied in Gyeongsangnam-do and Sejong City. Researcher Kim explained, “This technology, developed under the product name ‘OmniOne,’ allows convenient authentication, identity verification, and credentialing through biometric authentication without a public certificate, thus offering high convenience. The authentication process takes place on a blockchain-based DID platform, which enhances security, and it can authenticate not only people but also Internet of Things devices.”

Furthermore, the National Assembly’s decision to abolish the exclusive use of public certificates is expected to make biometric authentication technology and related security technologies even more important, which is considered a positive factor for RaonSecure. Researcher Kim explained, “Banks, which have relied on public certificates, are expected to require authentication technologies that combine convenience and security, which is why RaonSecure’s blockchain-based DID technology is promising.”

New business models are also expected to aid future growth. Researcher Kim stated, “RaonSecure’s existing sales method was mainly a package license model, where initial construction revenue was generated followed by annual maintenance fees. However, recently, biometric authentication security technology is being sold overseas on a monthly subscription basis, which is expected to stabilize quarterly performance volatility.” He also forecasted, “Blockchain DID-based identity verification technology generates revenue based on usage and has higher price competitiveness than telecom-based identity verification, so it could become a pillar of RaonSecure’s future growth.”

This content was produced with the assistance of AI translation services.