SKT and SC First Bank Launch '5G Quantum-Secured Financial Transaction Service'

SKT Quantum Security Technology in Mobile OTP

[Asia Economy Reporter Seulgina Jo] SK Telecom is partnering with SC First Bank to launch the first 5G quantum security financial transaction service among commercial banks.

According to SK Telecom on the 17th, Galaxy A Quantum users can safely conduct various financial transactions such as non-face-to-face registration, account opening, and remittance using a quantum security-based mobile OTP (6-digit number) on the SC First Bank mobile banking app starting today.

SK Telecom's Quantum Random Number Generator (QRNG) chipset, embedded in the world's first quantum security smartphone Galaxy A Quantum, generates pure random numbers that are unpredictable and patternless, thereby enhancing the security of SC First Bank's mobile OTP.

SK Telecom and SC First Bank have joined forces to create an environment where customers can use non-face-to-face financial transactions with greater confidence by applying world-class quantum security technology to the mobile OTP service. This is expected to further expand the quantum security domain within the financial industry.

Galaxy A Quantum, launched by SK Telecom on May 22, surpassed 300,000 units sold in about six months. It is recording the highest sales among Galaxy 5G smartphones released this year, along with the S20 and Note20.

Riding on the strong sales of Galaxy A Quantum, SK Telecom is expanding quantum security applications across finance, authentication, and blockchain sectors. Galaxy A Quantum offers quantum security-based ▲T ID dual login ▲SK Pay biometric authentication protection ▲blockchain mobile electronic certification service ‘Initial’, with these related services continuously upgraded since launch.

The ‘Quantum Wallet’ feature, which securely stores various certificates with quantum security, is also popular. Students at Dongguk University, Catholic University, and Korea Aerospace University will be able to easily issue transcripts and other certificates through the Initial app and store them in the Quantum Wallet within the app starting at the end of this month. SK Telecom plans to expand this service to 19 universities within the year.

Cho Hyung-gi, Deputy General Manager of Digital & Personal Banking Division at SC First Bank, said, “The most important factor for customers using mobile financial services through non-face-to-face channels is security that protects transactions,” adding, “Through this partnership with SK Telecom, we will take a leading role not only in customer convenience and digital innovation but also in protecting customer information.”

Han Myung-jin, Head of MNO Marketing Group at SK Telecom, stated, “SK Telecom’s world-class quantum security technology is already part of customers’ daily lives,” and added, “We will continue to expand the quantum security ecosystem so that customers can use all ICT services with confidence.”

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