KEB joins with U.K. firm to set up mobile security system

KEB Hana Bank said on Friday that it is setting up a mobile security system jointly with the U.K.-based security company Trustonic and Korean mobile carrier SK Telecom.

The bank has been enhancing its mobile security system since it became the first bank in the country to offer a service exclusively for smartphones in 2009.

Following the agreement on Friday, the new security service is expected to be in service in January.

The security system will be installed on the smartphone application processor that will block hackers and malicious apps.

“Once the securities solution is serviced, we hope it will be applied to our other services, including biometric systems, that are in development,” said Han Joon-seong, KEB Hana Bank’s executive on future finance.