November 20, 2015 -
SK Holdings C&C and KDB Daewoo Securities have developed the the Who Are U solution, an app for advanced personal identification the companies hope will replace public key certificate by means of non-face-to-face personal identification.
“With the new system, we can now provide a total bio authentication service based on all information including face, voice, finger print and iris recognition,” an SK executive said. “We will strengthen the bio authentication business aiming at banks, security firms and Internet bank operators.”
According to the announcement in The Korea Times, the solution analyzes mouth movement and voice.
“This solution requires no device but a smartphone onto which the application is to be downloaded,” a spokesperson explained, adding, “Subscription to account opening for the use of financial services can be done within five minutes or so.”
After downloading a dedicated smartphone application, users are asked to read a word and scan their face with the smartphone’s camera so as to register.
An SK spokesperson remarked, “the service has high face and voice recognition accuracy as well as a low possibility of forgery. It is drawing much attention from financial institutions here, securities firms in particular, because it can be easily used on smartphones.”
SK says that they have signed an agreement with KDB Daewoo Securities who are planning to allow customers to open accounts using face and voice authentication.
A recent report finds that the inclusion of biometrics in mobile devices will generate US$9 billion by 2018 for the biometrics industry through multi-factor authentication services and the approval of instant electronic payments.