With the advent of the fourth industrial revolution, most of our daily lives are turning into IT-dependent lives, and the importance of “security” for individuals or corporate information is growing even more and more.
As the proportion of modern people relying on mobile devices and PCs increases, security risks such as privacy exposure and corporate information leakage are also increasing, and the technology to prevent them is also developing.
80% of the causes of data leakage come from password leakage, and more than 70% of the current authentication system uses password-based authentication methods. The biggest problem with the password authentication system is that I’m not the only one who has my secret, but I share it with the service provider.
Even if the user manages well, information is leaked when the service provider is hacked, and the service company is subject to a compensation suit even though it is certified as a registered password. More than half of Internet users use less than five passwords for all accounts, and the passwords used by personal accounts are used for corporate internal authentication, which can lead to damage.
To solve the password problem, many companies are introducing multiple authentication methods, such as OTP, and although these methods are effective in terms of security, the system integration to introduce them is complex and costly, and only numbers, letters, etc. are checked, so there is a risk of others’ use and leakage.
OctatcO uses personal biometric technology, identifies users, applies encryption technology to all communication sections, provides biometric security keys and solutions that store personal information in the h/w security area rather than s/w, helping you enjoy a more convenient and secure digital life.
I met with Yoo Mi-young, CEO of OctatcO, a biometric security company, at the Pangyo Techno Valley startup campus and heard about “EzFinger.”
Q1. company introduction
CEO Yoo Mi-young: OctatcO helps many people lead a safer and more convenient digital life by providing secure and convenient authentication that replaces vulnerable and inconvenient passwords based on security certification solutions that satisfy NIST’s most powerful certification level, which is classified as a strong certification.
By utilizing FIDO standard, which is an international standard for biometric recognition technology and security certification, the company aims to end the era of vulnerable and inconvenient passwords and contribute to national development by providing safer and more convenient certification.
Q2. Major target layer
CEO Yoo Mi-young: OctatcO’s customers are individuals and businesses that use passwords. OctatcO’s H/W biometric security key Easyfinger series supports various working environments. It can also be used in tablet and PC environments, and Easyfinger card types can be used for online authentication such as access to offices, login to PC, and groupware.
The EzAuth biometric solution can be used by selecting various biometric devices such as smartphone biometric recognition and fingerprint usb security keys, and can be built at 10 times cheaper than other on-premise biometric solutions, and can easily be linked to different security certification and existing legacy systems in two to three days.
The Easyfinger series is a product certified by Windows Hello and FIDO, and it is convenient to use MS services such as Windows PC login, Office365, Azure Cloud, and dozens of other services such as Google Gmail, Google Cloud, and Salesforce without installing additional software.
Q3. Company product. differentiation
CEO Yoo Mi-young: The online authentication service, which replaces vulnerable passwords accounting for more than 70% of the total authentication market, has about four encryption H/W security companies worldwide that support PC environments, including Windows Hello biometric and FIDO authentication.
Although existing physical security certification provides security services centering on biometric offline access control market, and information security certification is vulnerable to biometric H/W technology based on encryption technology and S/W certification solution, OctatcO provides integrated H/W and S/W integrated security certification product solutions that combine biometric and encryption technologies.
Q4. overseas expansion Strategy
CEO Yoo Mi-young: With Corona19, which has been in vogue since last year, many businesses and institutions have increased non-face-to-face activities such as telecommuting, teleconferencing, and online events, the demand for the cloud has soared and the digital transformation of many companies and institutions has led to greater demand for the cloud that can also guarantee security.
However, most of the existing password authentication for the cloud is done, and if the administrator account is taken away through phishing, the damage will be even greater. As the introduction and delivery of the Easyfinger series products can solve problems caused by password authentication and provide greater security and convenience, we plan to make inroads into the U.S., Singapore and other countries through partnerships with cloud certifiers such as zscaler and MS, or with corporate consulting firms such as PWC.
Q5. current performance
CEO Yoo Mi-young: Samsung Life Insurance introduces and uses E-Finger 2 for security certification of internal employees of companies, and domestic P company also uses E-Finger Solution for security certification of smart offices increased due to Corona19, and many other public organizations and companies have introduced E-Finger and used it for security certification purposes.
This year, it has completed registration of Microsoft’s SecurityKey official vendor company and will currently launch the world’s first fingerprint recognition security key EasyQ using quantum random number generation technology through cooperation with SK Telecom and ADT Caps to expand into the global market through application of areas that require strong security certification such as finance and national defense through business cooperation with SK Telecom and ADT Caps.
Q7. in Pangyo Seat caught reason
CEO Yoo Mi-young: Pangyo is a place where so many IT companies and research institutes are concentrated that it is the center of IT with global convergence R&D hubs such as IT and CT, and I think it is the best location for joint R&D and collaboration with many companies and institutions.
In addition, there are many areas that can receive state and city support and are geographically close to the Gangnam area in Seoul, which can be said to have advantages in-depth advantage in management activities.