Correspondent column accredited certificate is abolished, so joint financial certificate

The accredited certificate system, which caused inconvenience to financial consumers, was abolished on the 10th. yunhap news

After I came to New York, USA, I had one thing that I got better. It is a wallet. In Korea, there was no need. This is because most of the consumer life was possible, as well as using public transportation with a single mobile phone. Americans still carry multiple cards and cash. Coins are a must when parking in the city. There are a handful of people who pay with mobile phones at large supermarkets.

However, America should not be easily judged as an analog society. As for the financial sector, it is much faster and more consumer-friendly than Korea.

When you open an account at a bank, you can use most financial services with a simple ID or fingerprint. Like Korea, it does not require PCs or mobile phones to install various security programs and certificates. I can’t imagine carrying a cumbersome one-time password (OTP) generator.

This is one of the backgrounds of the pouring out of financial-related startups that promote convenience as a weapon. Even with Robin Hood, an online stock trading app, you can deposit and withdraw money from other banks with just your ID or fingerprint.

Trade with US ships’ individual ID and fingerprint

This does not mean that security is poor. If you attempt to pay by card in a place far from the registered residence, you may be unwittingly restricted. Artificial intelligence (AI) technology detects abnormal behavior. You will need to lift the restrictions by calling the 24-hour customer service center.

In this case, you must give the counselor an answer that you can never know other than yourself. Typical examples are the names of pet dogs raised in elementary school. This is the question that I registered myself when opening an account. If a financial accident breaks out, it is likely that the financial company will lose money. You may have to pay more money than the customer was scammed.

The accredited certification system, which was controversial in Korea, was recently abolished. The amendment to the Electronic Signature Act came into effect. It has been 21 years since the system was introduced. I was happy to access the bank’s homepage. They still asked for four to five programs such as keyboard security to be installed. In the past, accredited certificates were replaced by the names’joint certificate’ or’financial certificate’.

The structure that the financial sector jointly created three-fold and four-fold security devices and inevitably become customer responsibility when an accident breaks out remains the same.

Complex authentication is not just a problem for the financial sector. It is more tricky to buy Korean products overseas.

The government recognized that overseas consumers could not purchase the coat worn by Song-i Chun, the protagonist of the popular drama “My Love from the Star,” which aired at home and abroad in 2014. This is because of security programs such as ActiveX. Earlier this month, with the abolition of the accredited certificate, it was announced that overseas sales of’Chunsongi Coat’ became possible after six years. Will it be?

Consumption is also limited without Korean mobile phones

I ordered a book at a famous online bookstore in Korea. If I didn’t sign up for membership, I couldn’t get past the first step. When I was trying to register as a member, I was asked to enter a mobile phone number starting with ‘010’. Without this, i-PIN authentication was required. In order to obtain i-PIN authentication, a mobile phone number or joint certificate in Korea was required again. It seemed that 7.5 million overseas Koreans as well as foreigners who speak Korean well had no choice but to give up the purchase.

On the other hand, Koreans are free to buy items from online stores in the United States with a few clicks. On Black Friday at the end of last month, famous sound products were sold in hours, thanks to the purchasing power of Koreans.

At the news that financial companies have replaced public certificates with joint certificates, an official from a financial sector in New York said, “The remains of Active X will not disappear like Corona 19.” This is the current position of the’IT (information technology) powerhouse’.

Jae-Gil Cho, New York Correspondent for the Korea Economic Daily [email protected]