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  5. The Korean Financial Telecommunications & Clearing Institute now uses PalmSecure running on SPARC M10 Unix Server to support its digital approach to create a safe and secure society

The Korean Financial Telecommunications & Clearing Institute now uses PalmSecure running on SPARC M10 Unix Server to support its digital approach to create a safe and secure society

"We had experience developing a pilot system for palm vein authentication with Fujitsu."

Im Chan Hyuck KFTC

Wanting to promote the fintech industry, KFTC and Fujitsu worked together to create a user-friendly, secure authentication service for financial institutions.

Customer

KFTC is an institution based in Korea specializing in capital settlement and serving as an information intermediary for the nation’s financial institutions. It was established by joint investment from major banks, including the Bank of Korea, the nation’s central bank. Responsible for overseeing 7.3 billion transactions in 2016, KFTC offers various payment settlement services, including CD Network, IFT Network, InterBank Home/Firm Banking Network, check clearing, Giro and accredited certification.

Challenge

The Korea Financial Telecommunications & Clearing Institute (KFTC) wanted to create a biometric authentication-based system that would allow financial institutions to provide safe, high-quality services as well as allow them to better manage confidential information.

Solution

Working in partnership with Fujitsu, KFTC adopted a biometric authentication system that included Fujitsu’s palm vein authentication system and a Fujitsu ‘SPARC M10 UNIX server, to ensure best practices for the safekeeping and transferring of authentication information.

Benefit

  • Eliminates the need for slow, oldfashioned, real-name transactions
  • Allows financial institutions to offer secure, high-quality, non-face-to-face solutions
  • Reduces the risk of information being leaked and any resulting financial penalties

Download

Read the full KTFC case study (679 KB/A4, 2 pages)

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