Published September 11, 2017
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Korea’s largest bank, KB Kookmin Bank, has worked with Trustonic and ATsolutions to secure its new peer-to-peer (P2P) payment and messaging app, Liiv TalkTalk. The state-of-the-art Trustonic Application Protection (TAP) solution encrypts and secures both the bank’s and end users’ data across the full range of Android and iOS devices.
KB Kookmin Bank launched Liiv TalkTalk to its 30 million customers in July 2017 and it offers encrypted messaging for both consumers and businesses. It is the first app in Korea to provide financial services - such as P2P payment and pension, credit card and savings account enquiries - via interactive messaging. In order to enhance its existing security infrastructure, KB Kookmin has used the TAP solution to protect personal and financial data by securing the private keys used to decode chat messages. It is the world’s first P2P payments and messaging app to be protected by TAP. The bank has also added TAP to the Liiv app to provide a safe and easy authentication service, in particular through the secure storage of authentication data.
Hyoung Joo Park, General Manager of the Smart Strategy Dept. at KB Kookmin Bank commented: “We take the protection of both our customers’ data and our applications very seriously. We needed to ensure the integrity of our new app, which combines social media and financial services, across all devices. With ATsolutions and Trustonic working with our agile team we have achieved that goal in just 35 working days. We are confident that Liiv TalkTalk can offer a complete banking platform based on secured messaging and will continue to extend the services that it offers. We are now looking at other areas where both KB Kookmin Bank and our customers can benefit and look forward to bringing further updates soon.”
“Connected devices are being used to perform increasingly sensitive tasks, which makes them extremely interesting to hackers and fraudsters” comments Ben Cade, CEO of Trustonic. “Consumers need to feel safe when using services and any data theft can lead to both financial loss for individuals and to irreparable damage to brands. This is why application protection has never been more important. We’re seeing a huge increase in demand for on-device software and hardware protection and we look forward to continuing our work with KB Kookmin Bank.”
Jong Seo Kim, CEO of ATsolutions, said: “We have taken great care to prioritize the customer’s security and convenience by embedding TAP into KB Kookmin Bank’s Liiv TalkTalk, Liiv and ATsolutions’ Smartpass, delivering an easy and reliable authentication service. We are now looking ahead and plan to continue to expand the use of TAP into new business areas.”
Re-disseminated by The Asian Banker