Aton's Q1 Operating Profit Rises to 700 Million KRW YoY... "Increased Demand for Private Authentication Solutions in Financial Sector"

[Asia Economy Reporter Jang Hyowon] Fintech security company Aton (CEO Kim Jongseo) announced on the 14th through its Q1 earnings disclosure that it recorded consolidated sales of 8.7 billion KRW and operating profit of 700 million KRW.

This represents increases of 24% and 5%, respectively, compared to the same period last year. These results were driven by the growth of the company’s core fintech security solution business, as demand for private authentication solutions from domestic financial institutions increased following the abolition of the public certificate system.

Earlier this year, the company secured the largest-ever digital financial platform construction project with Gwangju Bank and continued to win orders for private authentication system construction in the financial sector, resulting in double-digit growth with standalone sales and operating profit increasing by 25% and 11%, respectively. Additionally, it recently signed integrated authentication solution supply contracts with multiple securities firms including Korea Investment & Securities, Hanwha Investment & Securities, and IBK Investment & Securities.

The PASS authentication certificate, a key service of the fintech platform service division provided in partnership with telecommunications companies, surpassed 28 million cumulative issuances due to its application in the National Tax Service Hometax year-end tax settlement service. The number of user institutions is also rapidly increasing, currently being used as a simple authentication method by approximately 200 institutions including Korea Post, Employment Insurance, Samsung Securities, and Hyundai Card.

Aton plans to continuously develop authentication solutions equipped with physical, administrative, and technical security systems to build security and authentication frameworks for financial institutions’ MyData services and to acquire the status of electronic signature certification business operator, thereby generating sustained demand.

Kim Jongseo, CEO of Aton, stated, “Based on our self-developed software-type security and authentication technology, we are rapidly capturing the growing demand in the non-face-to-face financial authentication market. We will focus on our core competencies to enhance corporate competitiveness and maintain a dominant position in the integrated certificate market specialized for the financial sector.”