A new financial security system technology

SK, a system integration providing company formerly known as SK C&C, has developed a face and voice recognition system for non-face-to-face financial transactions in cooperation with KDB Daewoo Securities in South Korea.

The company said it expects the new system, dubbed Who Are U (WAU), will be able to replace personal authentication certificates. It said it will enter the bio personal authentication service market targeting security firms and financial institutions.

“With the new system, we can now provide a total bio authentication service based on all information including face, voice, finger print and iris recognition,” an SK executive said. “We will strengthen the bio authentication business aiming at banks, security firms and Internet bank operators.”

The company said WAU can help users identify themselves more safely for financial services based on face and voice information compared to traditional methods using IDs and passwords.

It said bio authentication has rapidly becoming a global mainstream thanks to its secure and convenient features. Global card companies such as Visa and MasterCard as well as IT companies including Google, PayPal and Alibaba have pushed for the development of bio authentication services.

SK said WAU uses technology that detects and analyzes the dynamics of mouth and voice and thus is more secure than those based on finger print and iris recognition.

After downloading a dedicated smartphone application, users are asked to read a word while screening their face with the smartphone camera so as to recognize their facial and voice information.

“The service has high face and voice recognition accuracy as well as a low possibility of forgery. It is drawing much attention from financial institutions here, securities firms in particular, because it can be easily used on smartphones,” an SK official said.

SK has signed an agreement with KDB Daewoo Securities over the application of the security system that can authenticate users in non-face-to-face situations, replacing the conventional authentication certificates.

KDB Daewoo Securities said it is planning to allow customers to open accounts by recognizing their face and voice information.

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