Korean bank to protect mobile banking transactions with quantum cryptography

DGB Daegu  IM Bank mobile banking app on a Samsung Galaxy A Quantum 5G smartphone
SECURE: DGB Daegu is securing customers’ mobile banking transactions with 5G quantum cryptography

Transactions conducted by customers using Korean bank DGB Daegu’s IM Bank mobile banking app on a Samsung Galaxy A Quantum 5G smartphone will soon be secured with 5G quantum cryptography technology that generates true random numbers to encrypt one-time passwords and identity verification information.

The app will be integrated with mobile network operator SK Telecom’s quantum random number generator (QRNG) chipset embedded in the Samsung Galaxy A Quantum smartphone.

This means that users’ personal information will be protected by encryption based on genuinely unpredictable random numbers whenever they open a new account or make money transfers using IM Bank.

SK Telecom developed the chipset with quantum security developer ID Quantique and says that they “are currently considering applying their quantum cryptography technologies to other services of DGB Daegu Bank”.