AERGO

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J Bank

  • New smart banking blockchain authentication service
  • The first among the world’s banking sector to offer a blockchain solution

Delivery Type :

System Integration

System Type :

Cloud (AERGO Enterprise on AWS)

BACKGROUND

  • A belief that the main agents of the financial services that were provided exclusively by the financial companies will be changed to customers themselves through digital innovation
  • The decision of J Bank to introduce blockchain to its system, with expectations that the blockchain will change the dynamics of financial services. J Bank have been expecting such changes since before the cryptocurrency boom began
  • Plans were made to introduce a blockchain-based easy login system as an authentication system to replace the accredited certificate login that caused the greatest inconvenience for customers

CHALLENGE

  • As J Bank was establishing the world’s first case in the banking sector to offer a blockchain solution, there were difficulties in obtaining references and the project seemed to pose a high risk
  • Amount of time and cost that exceeded the expectations
  • Difficulties in demonstrating security for blockchain-based authentication

SOLUTION

  • Designing an easy login system using pin code by introducing AERGO Enterprise(formerly known as COINSTACK)
  • Developing an architecture that meets the latest compliance guidelines for the financial sector
  • Consulting Financial Security Institute to have blockchain security certified
  • Holding regular blockchain training sessions for effective collaboration with the client

BENEFIT

  • Provision of easy and highly secure login without having to require a accredited certificate
  • Customer satisfaction and an increased number of customers achieved through applying blockchain into easy and secure login system
  • A successful development of a brand image as an innovative financial enterprise, being the world’s first case in the banking sector to offer a blockchain solution
  • Served a role as a driver for other enterprises and financial sectors to adopt blockchain, being a successful case in the financial sector to adopt blockchain
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