Financial Security Institute Launches Integrated Authentication Relay Service for MyData in the Financial Sector

[Asia Economy Reporter Eunju Lee] The Financial Security Institute announced that it has successfully established an integrated authentication relay system for MyData in the financial sector to effectively support integrated authentication for MyData. After about three months of pilot service, full service will be launched starting October 25.

With the Financial Security Institute's provision of the 'MyData Integrated Authentication Relay Service,' authentication institutions and financial companies providing information only need to connect once to the integrated authentication relay system to be linked with all information-providing financial companies and authentication institutions.

Previously, authentication institutions had to individually connect and test with over 70 information-providing financial companies, and financial companies had to individually connect and test with about 10 authentication institutions, causing significant inconvenience, which has now been completely resolved.

Additionally, authentication institutions and financial companies participating in MyData integrated authentication can handle the entire application and connection process through the relay system's website in a one-stop manner and can view real-time statistical information.

Kim Cheol-woong, President of the Financial Security Institute, stated, “The MyData Integrated Authentication Relay Service allows customers to quickly and easily apply their desired authentication methods, greatly improving the convenience of using MyData. At the same time, it is expected to drastically reduce the costs for information-providing financial companies and authentication institutions in adopting MyData integrated authentication services.”

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