SK Telecom and DGB Daegu Bank Launch Industry-First 'Quantum-Secure Mobile Banking'

[Asia Economy Reporter Seulgina Cho] SK Telecom is partnering with DGB Daegu Bank to launch the industry's first mobile banking service applying 5G quantum security technology.

According to SK Telecom on the 20th, the quantum-secure mobile banking service, set to be unveiled in mid-next month, will be available exclusively to users of the world's first quantum-secure smartphone, the 'Galaxy A Quantum.' The service allows safer protection of personal information when transferring funds via digital OTP on DGB Daegu Bank's 'IM Bank' application or during identity verification procedures for non-face-to-face sign-ups and account openings.

This is based on SK Telecom's quantum random number generator (QRNG) chipset embedded in the Galaxy A Quantum, which generates unpredictable pure random numbers. These numbers are used to encrypt the digital OTP codes and identity verification numbers sent to DGB Daegu Bank and the Korea Financial Telecommunications & Clearings Institute servers, thereby enhancing security.

The two companies have completed joint development with the goal of implementing quantum security-based financial services on 5G smartphones. With the recent increase in non-face-to-face financial service usage due to the COVID-19 pandemic, the importance of personal information security has grown. The number of DGB Daegu Bank's non-face-to-face sign-up customers has approximately doubled compared to last year.

SK Telecom anticipates that personal information security will become an increasingly important issue in the financial industry and plans to expand the application of quantum security technology to financial services through collaboration with various companies. In particular, the goal is to lead the 'TechFin' market by expanding the quantum security industry ecosystem into the financial sector.

Han Myung-jin, head of SK Telecom's MNO Marketing Group, said, "Since launching the world's first quantum-secure smartphone in May, sales have been strong, and we are expanding quantum security to various services. We will integrate world-class quantum security technology into multiple fields such as finance and the Internet of Things (IoT)."

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