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| A Samsung SDS executive introduces the company's mobile financial security service for visitors from major European financial institutions during a briefing session in London, Tuesday (local time). / Courtesy of Samsung SDS |
By Yoon Sung-won
Samsung SDS launched a voice-based security service to strengthen the global mobile financial service market, the Samsung subsidiary said Wednesday.
The company said it has chosen Britain as its first target market to provide the new security service, dubbed Mobile Voice Recording Solution (MVRS), alongside its existing enterprise mobile security and verification services.
As the country will enact an information security law that obligates storage of all voice, text message and call logs related to mobile financial transactions for five years starting 2018, expectations are high over market opportunities once the law's application expands to other industries such as healthcare and retail, Samsung SDS said.
"With the launch of MVRS, Samsung SDS has completed preparations to provide all key mobile security features that the global financial service market requires," said Hong Won-pyo, president of Samsung SDS' business solutions division in a statement. "Based on our technological capabilities, we pledge to achieve results by meeting increasing the global market's expectations and demand for mobile security."
Samsung SDS and Samsung Electronics invited Europe's major financial institutions to brief their mobile security service, Tuesday. The system integration service provider underlined its high expectation for market opportunities in other European countries and the United States which are considering introducing similar regulations regarding mobile financial transactions.
Before the introduction of MVRS, customers had to make calls more than twice to leave records on financial transactions they made via telephone because ordinary systems store voice calls between clients and call center employees only, but not direct calls with employees at financial institutions.
The MVRS, on the other hand, automatically records and manages all financial transaction logs including voice calls and text messages that customers make through their mobile phones, Samsung SDS said. It added the stored logs can be used as essential information to monitor legitimacy of financial transactions.
Samsung SDS said the MVRS completes its mobile security service portfolio, which also includes enterprise mobility management (EMM) and biometric information authentication service Fast IDentity Mobile (FIDO), alongside Samsung Electronics' mobile device security platform Knox.
"This means that we have established a technological bridgehead to expand to the global financial business-to-business service market, which requires strong security measures," the company said.
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