SK Telecom recently announced that it, together with DGB Daegu Bank, will apply its 5G quantum cryptography technology to IM Bank, the mobile banking app of DGB Daegu Bank from September 2020.
Marking the first quantum-powered service in the banking industry, IM Bank will enable users of Samsung Galaxy A Quantum, the world’s first 5G smartphone equipped with a quantum random number generator (QRNG), to benefit from a new level of security in mobile banking transactions.
The users will have their personal information thoroughly protected when they transfer money through the mobile banking app using digital one-time password (OTP), or when they open new accounts through the app via identity verification.
SK Telecom’s QRNG chipset embedded in the Galaxy A Quantum smartphone generates true random numbers cannot be predicted. By encrypting the IM Bank app’s digital one-time passwords and identity verification information based on true random numbers, IM Bank provides advanced security for users.
SK Telecom and ID Quantique have successfully shared the application programming interfaces (APIs) of the Galaxy A Quantum with DGB Daegu Bank and are currently considering applying their quantum cryptography technologies to other services of DGB Daegu Bank.
Han Myung-jin, Vice President and Head of MNO Marketing Group of SK Telecom
Released in May 2020, the Galaxy A Quantum, the world's first smartphone equipped with quantum random number generator, has been drawing global attention.
