RaonSecure to supply biometrics to SBI Sumishin Net Bank

South Korean cybersecurity firm RaonSecure Co. said on Monday it signed a $2.5 million contract with SBI Sumishin Net Bank, the largest internet bank in Japan, to supply its biometrics service OnePass Solution. 

OnePass solution is a multi-channel authentication platform, certified by Fast Identity Online (FIDO) Alliance, the global well-known open industry association launched in February 2013. 

The solution provides a full range of bio-authentication technologies such as fingerprint, iris scanners, voice, and facial recognition

It can also replace existing passwords or authentication methods such as one-time passwords (OTP).

In June, OnePass solution surpassed 5.1 million monthly active users (MAUs) in Japan.

RaonSecure introduced this service to more than 1,000 domestic and overseas clients. The company aims to expand its businesses in Japan with subscription biometric authentication solutions and a decentralized identifier (DID) system. 

Write to Kyung Ju Kang at qurasoha@hankyung.com