14 Million Users Joined KaBang Certificate in One and a Half Years Since Launch

"Expansion of Partnerships and Mobile IDs Enhance Competitiveness"

KakaoBank announced on the 10th that the number of subscribers to its proprietary certificate service, 'KakaoBank Certificate,' has surpassed 14 million just 1 year and 6 months after its launch. The cumulative number of issued certificates has exceeded 20 million. This certificate service allows customers to perform financial transactions, various authentications, and electronic signatures using the certificate issued through the KakaoBank mobile application (app).

KakaoBank explained that the growth of its certificate service is attributed to convenience, proprietary authentication security technology, and high stability. First, it is characterized by easy use through biometric authentication or PIN verification within the KakaoBank app. Customers who have obtained the KakaoBank Certificate can use it for identity verification when signing up or logging in on various public institutions' and private companies' websites and apps. The KakaoBank Certificate can also be used at moments requiring electronic signatures, such as financial transactions and electronic contracts.

Advanced security systems and authentication technologies are also applied to the certificate. The main data center and disaster recovery center related to authentication have been duplicated, and a 24-hour call center, real-time monitoring, and fault response system have been established and are in operation. The authentication and security technologies and operational know-how as an internet bank have also been consolidated. All financial authentication and security solutions, including ID card capture and recognition, facial authentication, and passive authentication, have been developed in-house and applied to the service. An abnormal financial transaction detection system (FDS) is also operated to immediately block authentication if signs of theft or financial fraud are detected, enhancing safety and reliability.

In April of this year, KakaoBank expanded its authentication business scope to the individual business owner sector by launching the 'Business Owner Certificate' issuance service, the first in the financial sector. The issuance fee that business owners had to bear annually for certificate issuance was also made free of charge. In June, KakaoBank, together with Kakao, was selected as a participating company in the mobile ID private sector opening, demonstrating its authentication and security technology capabilities. Going forward, KakaoBank plans to implement a service that allows customers to issue and use mobile IDs provided by the Ministry of the Interior and Safety through the KakaoBank mobile app.

A KakaoBank official said, "Just as KakaoBank introduced its own authentication instead of the public certificate at the time of its opening, leading to a shift in perception regarding convenient mobile banking and authentication systems, we will continue to innovate in the certificate field to enhance mobile usage benefits for financial consumers."

KakaoBank announced on the 10th that the number of subscribers to its own certificate service, 'KakaoBank Certificate,' has surpassed 14 million just 1 year and 6 months after its launch.
[Photo by KakaoBank]