By: Satoko Omata
Infinitium partners with South Korean company Raonsecure to bring biometric authentication for secure digital payments to Malaysia.
Infinitium will adopt Raonsecure’s FIDO-certified biometric authentication platform with its electronic payment offerings that are already deployed in the current markets. This will pave the way for biometric technology as an emerging methodology for payments and stronger security, adding enhanced security value besides enabling new types of jointly developed products.
Raonsecure is a provider of biometric mobile security based on Fast Identity Online (FIDO) standards in Korea. Working with the home-grown online electronic payments and authentication solutions provider, Raonsecure and Infinitium will bring together global standards and best practices in biometrics authentication and digital payments.
Lee Soon-hyung, Chief Executive Officer of Raonsecure said, “We are pleased that this alliance has forged important collaboration of best practices that enables Raonsecure to expand our regional market reach. The purpose of FIDO-based biometric authentication is to increase the level of security for both the relying organisation as well as the end-user, with an added benefit of providing consumers with greater convenience and user experience.”
Addressing growing trends in the industry, biometric authentication security will form one of the central pillars of the partnership. The partnership will offer a range of different services to clients, the first of which will be launched as early as the first quarter of 2018. For the first initiative, Infinitium will adopt Raonsecure’s biometric authentication platform to enhance Infinitium’s two-factor authentication (2FA) products and extend its strong authentication capabilities.
Ho Ching Wee, Chief Executive Officer of Infinitium said, “Our collaboration will allow us to improve technology solutions such as Infinitium’s two-factor authentication product with Raonsecure’s biometric platform to enhance security and protect the financial information and identity of consumers. By adding a third authentication factor of “who you are”, this will arm financial institutions and users with the ability to utilise biometrics in multi-factor authentication for faster and more secure identity verification process. This is expected to propel the adoption of biometrics within our home country Malaysia and the regional markets, and further deepen Infinitium’s already established market footprint of more than 40 banks and over 180 million cardholder base within Asia.”