May 9, 2016 -
Biometric authentication firm Daon announced that the Korea Smart Authentication Corp (KoSAC) has become Daon’s strategic partner for Korea.
In a statement, the company explains that government regulation changes related to online authentication requirements for financial services, and Korea’s pro-FinTech stance, make this a high potential market for mobile biometric authentication. Additionally, KoSAC believes the most important ingredient for a growing digital economy is strong personal authentication and, as a result KoSAC will now be the official Korean partner to offer Daon’s IdentityX Platform for secure authentication using biometrics.
One of KoSAC’s clients, the Korea Appraisal Board (KAB) became the first user of Daon’s mobile biometric authentication technology in the public sector for real estate appraisers. Another client in financial services, Yelopay, a subsidiary of Interpark, has contracted KoSAC to introduce biometric technology into their mobile application to support cross border payments.
“We are pleased to bring our unique biometric capabilities and expertise to the Korean market through a great partner with a strategically complementary business strategy,” said Tom Grissen, chief executive officer at Daon. “KoSAC is an entrepreneurial partner bringing significant market experience, an extensive network of business contacts and technology partners, and their own technology delivery services.“
“Together KoSAC and Daon will provide a fast and convenient means to authenticate end customers which will help our clients to secure, maintain and grow their business through a combination of strong authentication and better end user engagement” said Mr Kibong Moon, Founder and CEO of KoSAC.