April 24, 2024

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[THE INVESTOR] Local banks are planning to adopt a unified authentication certificate for online transactions in July to strengthen customers’ convenience, according to industry officials on May 27.

Eighteen members of the Korean Federation of Banks plan to introduce the unified certificate named BankSign in July to allow customers to make online financial transactions using their PIN numbers, secret patterns or fingerprints, a bank official said. 

Customers can download the BankSign from each bank’s application and use it for three years free of charge. The BankSign certificate will be initially available on mobile phones, he said.

Currently, banks issue their own authentication certificate to their customers for mobile transactions on the internet or mobile phones.

By Ahn Sung-mi and news wires (sahn@heraldcorp.com)