Aton Mobile OTP, Full-Scale Expansion of Client Base to Insurance Companies

[Asia Economy Reporter Park Hyungsoo] Fintech security company Aton is expanding its business scope across all sectors of the financial industry by partnering with life insurance companies following domestic commercial banks and securities firms.

Aton announced on the 18th that it has signed a contract to supply a software-based security medium mobile OTP solution to Shinhan Life.

The Shinhan Life mobile service app applies Aton's mobile OTP to strengthen authentication methods during financial transactions. It is expected to enhance customer convenience and security. This is likely to accelerate the mobile-based digital transformation pursued by Shinhan Life.

Aton's mobile OTP is one of the additional user authentication methods that operate during financial transactions. It automatically generates a One-Time Password without the need for a separate physical security medium. The authentication process is simplified, improving customer convenience. By applying Aton's white-box based storage medium solution ‘mSafeBox’, it prevents the exposure or leakage of encryption keys and encryption/decryption algorithms on smartphones.

Aton has supplied security solutions to major banks such as Shinhan Bank and NongHyup Bank, as well as various secondary financial institutions and securities firms including Korea Investment & Securities, Samsung Securities, Shinhan Financial Investment Securities, and KB Securities.

Kim Jongseo, CEO of Aton, said, "As digital transformation in the domestic financial sector accelerates, the demand for security and authentication is explosively increasing. Based on the references built around major banks and securities firms, we will achieve Aton's growth."

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