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Ssenstone Taking off as Global Leader with Authentication Security Technology
Integrated Authentication Startup
Ssenstone Taking off as Global Leader with Authentication Security Technology
  • By Michael Herh
  • January 9, 2017, 03:00
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Yoo Chang-hun, CEO of Ssenstone
Yoo Chang-hun, CEO of Ssenstone

 

Ssenstone (www.SSenStone.com), a security authentication solution provider announced that the company aimed to reach 5 billion in sales at home overseas and 2 billion won in sales abroad this year in a meeting at Hanhwa Life Pin Tech Support Center in Seoul on January 5. “We will strive to post 10 billion won higher than a domestic sales target of 9 billion won next year,” added a representative of Ssenstone. 

Ssenstone founded in November 2015, is a startup that provides 'integrated authentication' solutions that can cover a wide range of authentication methods such as biometrics, block chains, and public key infrastructures (PKIs). Last year, the company passed a FIDO interoperability test, an international standard for biometrics for major products and obtained a certificate.

The company's flagship product, StonePASS, is user authentication technology. However, the technology is not user authentication technology supporting specific authentication methods but integrated authentication technology which can support multiple authentication methods with one algorithm.

This technology enables Ssenstone to make very rapid progress, achieving 600 million won in sales in just one year since its foundation. Ssenstone’s customers in 2016 include public institutions including the Constitutional Court and the National Health Insurance Corporation and private organizations including Lotte Members and the Korea Life Insurance Association and a number of financial institutions that have decided to buy solutions from Ssenstone but not placed orders yet.

Prior to securing this achievement, the company registered three related patents, carried out security consulting for the Financial Security Institute, completed a simulation hacking test through its hacker team, passed security reviews by financial companies, obtained an FIDO international certificate for biometric authentication. Lately, the company was honored as one of the K-Global 300 companies, showing its rapid growth.

Moreover, Ssenstone was selected as a receiver of support from SparkLabs, Lotte L Camp, the Gyeonggi Creation Economic Innovation Center. Currently, the company is located at the Hanhwa Life Fin Tech Support Center in 63 City.

"With support from Hanwha Life for the expansion of our overseas markets, we are currently making efforts to advance into the Japanese and Vietnamese markets, and are close to partnering for B2B and B2C services with other companies which all business operators in this sector are attempting and yearning to,” said Yoo Chang-hun, CEO of Ssenstone. “As it is expected that we will receive a neuron structure certificate in the future, we will make investment in this sector. We will continue to invest in this sector. We will put more efforts into becoming a global leader in certification technology by 2018."