# Shinhan Bank secures and simplifies mobile banking service with Trustonic
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-12-14
Category: BANKING
Category URL: https://financedigest.com/category/banking
Meta Title: New hardware-secured in-app OTP generator boosts security
Meta Description: Discover how Shinhan Bank enhances security and user experience with Trustonic and ATsolutions, eliminating the need for separate tokens.
URL: https://financedigest.com/shinhan-bank-secures-and-simplifies-mobile-banking-service-with-trustonichtml

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_New hardware-secured, in-app one-time password (OTP) generator removes the need for consumers to carry separate tokens, while increasing security levels compared to SMS-based second factor authentication_

Shinhan Bank has worked with Trustonic and ATsolutions to integrate and secure its one-time password (OTP) service into the domestic S-Bank mobile banking application and a global S-Bank solutionfor Vietnam, with more deployments to follow. This new solution delivers a simpler, faster and safer user experience.

“We are known for [innovation and want to provide our customers](https://www.financedigest.com/customized-innovation-to-drive-the-human-microbiome-market.html "Customized innovation to drive the Human Microbiome Market") with secure and convenient services.” comments Kil-Woo Kim, Team Manager of the Digital Channel Division at Shinhan Bank. “For many years, consumers have needed to carry separate tokens to authenticate money transfers. In [today’s digital world](https://www.financedigest.com/bridging-the-gap-between-banking-and-digital-accessibility-in-todays-digital-by-default-world.html "Bridging the Gap Between Banking and Digital Accessibility in Today’s ‘Digital by Default’ World"), this impacts the user experience and is expensive for banks to implement. With Trustonic and ATsolutions, we have been able to integrate this functionality in a [secure way](https://www.financedigest.com/pandemic-loans-three-ways-to-secure-recovery.html "Pandemic loans: Three ways to secure recovery"), enabling our customers to manage their money whenever and wherever they need to.”

The [Trustonic Application Protection](https://www.trustonic.com/solutions/trustonic-application-protection-tap/?utm_source=iseepr&utm_medium=PR&utm_campaign=TAP&utm_content=Shinhan%20Bank) (TAP) solution safeguards the app’s OTP engines on any smartphone, including its secret cryptographic keys. The OTP is generated by simply clicking a button in the application when authenticating a money transfer.

“This has been a special collaboration, as we have improved the user experience while [maintaining](https://www.financedigest.com/maintaining-security-and-compliance-amid-digital-transformation-in-financial-services.html "Maintaining Security and Compliance amid Digital Transformation in Financial Services") security.” says Ben Cade, CEO at Trustonic. “Consumers [expect](https://www.financedigest.com/keeping-up-with-heightened-consumer-expectations-in-financial-services.html "Keeping up with heightened consumer expectations in financial services") to be able to manage their lives on their smartphones and it is up to us as technologists to make that happen in a secure, scalable and user-friendly way. TAP’s ability to achieve these goals is driving [huge demand](https://www.financedigest.com/title-interventional-pulmonology-market-shows-huge-demand-and-future-scope-including-top-players-2031.html "Interventional Pulmonology Market Shows Huge Demand and Future Scope Including Top Players 2031") from financial institutions.”

Jong Seo Kim, CEO of ATsolutions, adds: “This contract was won because of our joint work with Trustonic. By securing our OTP platform with Trustonic’s technology, we delivered a unique [solution to market](https://www.financedigest.com/the-patient-monitoring-handheld-solutions-market-to-be-constructively-capsized-by-the-digitization.html "The Patient Monitoring Handheld Solutions Market to be constructively capsized by the digitization"). It is this dedication to meeting the needs of our [customers that has realisedShinhan Bank’s vision of seamless user authentication](https://www.financedigest.com/strong-customer-authentication-must-be-adopted-to-make-open-banking-a-success.html "Strong Customer Authentication must be adopted to make open banking a Success"). [Delivering increased security](https://www.financedigest.com/managing-compliance-complexity-will-deliver-security-rewards.html "Managing compliance complexity will deliver security rewards") to our partners while simultaneously enhancing the user experience is a significant and rare achievement and we look forward to working with Shinhan Bank and Trustonic on further projects soon.”

To find out more about Trustonic, visit the [website](https://www.trustonic.com/?utm_source=iseepr&utm_medium=PR&utm_content=Homepage) and blog.


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