December 8, 2022

New mobile banking service based on QKD

A mobile banking app based on SK Telecom’s 5G quantum cryptography technology will be introduced at a South Korean bank. Personal information will be thoroughly protected when customers transfer money or going through identity verification to open new accounts.

SK Telecom (SKT), a top mobile carrier in South Korea, said it would apply its 5G quantum cryptography technology to IM Bank, the mobile banking app of DGB Daegu Bank, in September. It would be the first quantum-powered service in South Korea’s banking industry.

In May, Samsung’s 5G smartphone, Galaxy A Quantum, was installed with SKT’s quantum random number generator (QRNG) in cooperation with ID Quantique (IDQ), a Swiss company that provides quantum key distribution systems and quantum-safe network encryption. The QRNG chipset allows smartphone holders to use selected services safely by generating true random numbers that cannot be hacked. (Aju Business Daily)

Read more.