South Korean retail bank National Agricultural Cooperative Federation (NACF) is rolling out USB-based authentication devices supplied by US-based Aladdin Knowledge Systems to provide customers with secure access to its Web banking services.
Aladdin says the bank will provide more than 10,000 of customers with its eToken authentication device to secure online banking transactions. Deployment is scheduled to begin this month.
For many customers, the Aladdin eToken will replace the traditional user name and password currently used to access online accounts.
The hardware device supports the PKCS #11 standard, as required by the Korea Information Security Agency (KISA) and the Korea Financial Telecommunications & Clearings Institute (KFTC).
The Alladin platform will be deployed at NACF by the vendor's local partner Seoul-based WiNoble. Thomas Rhee, president and CEO of WiNoble, says NACF's deployment of Aladdin eToken is "part of the larger shift toward greater awareness of USB-based HSM for online banking security in Korea".