Trusted Pass, a security authentication solution of NS Beyond’s own development, requires only an ID without a password at various transaction terminals such as PCs. The solution sends a disposable pattern to a pre-registered smartphone with a virtual private network (VPN) instantly created. When customers draw patterns after receiving them on their smartphones, they are verified.
Trusted Pass has solved the problem of password hijacking, which was the biggest problem in current ID and password system authentication methods, by removing a password itself.
The authentication procedure is performed via a disposable virtual private network (VPN), and other program networks are temporarily blocked. In addition, it is important to prevent a leakage of authentication information, such as memory hacking, pharming, and smishing among others, at the network level by using an easy-to-use pattern type one-time password (OTP).
"We will develop Trusted Pass into core industry technology that can be applied to the Internet of Things (IoT) and autonomous mobile automobiles in the future," said Nam Sun-mo, CEO of NS Beyond. "This solution can also be used for on-line and off-line payment models such as smart hotels and smart package delivery service."
NS Beyond is also considering applying this technology to certification processes in the stock market. The company recently signed a memorandum of understanding with KOSCOM and is promoting the application of the service to open platforms in the capital market. Moreover, NS Beyond is considering the application of related technology with the banking industry and will mix the solution with simple device-based payment solutions.
After passing the proof of concept (PoC) with KB Kookmin Bank, last year, Trusted Pass was judged to be suitable for all 10 items including availability, security, and convenience.
NS Beyond is discussing the solution’s application to the services of transferring less than 300,000 won (US$260) and logging into banking websites without passwords. The company is considering cooperating with KG Inicis and LG U+ as well as Shinhan Bank and SC Bank Hong Kong as well.