Kakao Pay, Financial Security Institute Obtain 'Information Protection Management System Certification'

The First in the Fintech Industry

[Asia Economy Reporter Buaeri] Kakao Pay announced on the 4th that it has become the first company in the fintech industry to obtain the integrated certification of the Information Security Management System and Personal Information Protection System (ISMS-P) from the Financial Security Institute.

ISMS-P is a system that audits and certifies whether the information security and personal information protection management activities carried out by financial companies and electronic financial service providers are appropriate. Kakao Pay is the only company in the fintech industry to have obtained this certification. Among all financial institutions, it is the third after Gwangju Bank and Shinhan Bank.

ISMS-P is evaluated based on a total of 102 certification criteria, including 16 for establishing and operating information security management systems, 64 for protection measure requirements, and 22 for personal information processing stage requirements, with 384 detailed control items. Kakao Pay passed the ISMS-P audit for the entire service operation.

Kakao Pay explained that since 2015, it has been building an anomaly transaction detection system (FDS) based on big data and AI with its own technology to prevent increasingly sophisticated and intelligent forgery attempts.

A Kakao Pay official said, "As a lifestyle financial platform used by 33 million users, Kakao Pay maintains a high level of awareness regarding security and has established a thorough management system," adding, "We will continue to strengthen user information protection and security systems so that users can use financial services conveniently and safely."