Koscom's 'Cloud Joint Authentication Service' Celebrates 2 Years Since Launch

Significantly Expanded to 22 Securities and Futures Firms
High Safety with No Issues in Security and Fault Response

In its second year since launch, Koscom's 'Cloud Joint Authentication Service' is receiving positive reviews and significantly increasing the number of securities firms using it. Koscom's Cloud Joint Authentication Service is expected to become the representative authentication service in the financial investment industry.

Photo of Koscom headquarters.

According to Koscom on the 29th, the number of securities and futures firms using the Cloud Joint Authentication Service has increased to 22 companies, including KB Securities, NH Investment & Securities, and Samsung Securities. Currently, Mirae Asset Securities, Shinhan Investment Corp., and Kiwoom Securities are preparing to open the service, while Korea Investment & Securities, Meritz Securities, Hana Securities, DB Financial Investment, Samsung Futures, NH Futures, and Bookook Securities are coordinating opening schedules with Koscom.

The advantage of Koscom's Cloud Joint Authentication Service, launched in 2022, is its 'convenience.' Unlike the existing joint authentication service, which requires copying certificates for each device such as PC and mobile, the Cloud Joint Authentication Service stores the joint certificate securely in the cloud. Therefore, when certificate use is needed, users can freely use the certificate on various devices without additional issuance or copying procedures. Furthermore, instead of complicated passwords, users can access the service by entering a simple 6-digit password and biometric authentication (such as fingerprint).

The Cloud Joint Authentication Service supports authentication services even in mobile web environments, which was previously impossible, so the number of users is expected to increase further. Through this service, users can conveniently use financial services such as securities trading in a mobile web environment without the inconvenient procedures of installing applications or moving certificates.

Additionally, Koscom is an electronic signature recognition operator approved by the government, managing certificates in a secure environment, which is an advantage in terms of 'security.' When a certificate is used, the service notifies the user and allows them to directly manage the cloud usage sites they use, preventing illegal theft. Moreover, to ensure service stability suitable for the trading environment of its main clients, securities and futures firms, Koscom supports system redundancy as well as fivefold communication line redundancy.

Kim Seong-hwan, Executive Director of Koscom's Digital Business Division, said, "Through the Cloud Joint Authentication Service, we have been able to provide convenience such as biometric authentication to existing joint certificate users who were previously neglected. Going forward, we will actively support the spread of the Cloud Joint Authentication Service by participating in the standardization of private sector simple authentication promoted by the Korea Internet & Security Agency (KISA) and expanding its application to various public institutions so that the public can conveniently use joint certificates."