The Korea Financial Telecommunications and
Clearings Institute (KFTC) is upgrading its ATM systems in order to
connect to the global ATM network, ensuring that Korean cardholders
can make use of ATM machines around the world without restriction
or additional commission charges.
KFTC has been working on upgrading its ATM
system for the past two years, and has deployed Thales HSM 8000s to
ensure the system meets international security standards.
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The connection between foreign financial
institutions and ATM networks will be completed by the end of 2010,
enabling Korean cash and debit card users to withdraw cash in the
US, Philippines and Malaysia. This will be expanded to Europe,
Canada and other Asian countries by 2011.
“The global ATM network approves cash
transactions between countries, so the safety of the system is of
paramount importance,” says Oh Eun-Sook, manager at KFTC amd in
charge of this project.
“We selected Thales HSM 8000 as it is FIPS
140-2 level 3 validated, one of the most widely-recognised and
stringent security standards for HSMs.
“Also, because we are connecting our own
system to those of other foreign companies, we chose a product from
a company with the most abundant overseas references. This meant we
were able to complete the connection work with foreign companies
quite easily.”
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