Everspin announced that it will begin its full-scale entry into the Southeast Asian public infrastructure market by signing a contract to supply mobile security solutions to PT. KERETA API INDONESIA (Indonesian Railways, hereinafter referred to as KAI), an Indonesian transportation public corporation.
With this contract, Everspin will supply its mobile hacking prevention solution, ‘EverSafe Mobile’, to KAI’s official mobile app. KAI is providing its domestic railway users with an integrated mobility platform app for train reservations, real-time operation information, mobile payments, meal orders, and travel package purchases.
EverSafe Mobile is a solution that uses MTD (Moving Target Defense) technology to generate an infinite number of anti-hacking security modules and activate new security codes every day. Everspin's MTD technology is a proven technology that has been patented in 11 major countries around the world, including the US, Europe, and Japan. Unlike existing security solutions that use fixed security codes, it changes the security code in real time to fundamentally prevent hackers from analyzing it.
Everspin’s anti-phishing solution Fake Finder is also scheduled to be introduced to KAI within the year. Fake Finder has the largest domestic market share and has been introduced to ▲KB Kookmin Bank ▲Kakao Bank ▲NH Nonghyup Bank ▲Samsung Card ▲Samsung Fire & Marine Insurance ▲Korea Investment & Securities ▲Shinhan Investment & Securities ▲SBI Savings Bank ▲Hanwha General Insurance, protecting customers from phishing.
Everspin has already proven its technological prowess in the Indonesian financial market. Major financial institutions, including Jago Bank, the largest internet bank in Southeast Asia, Mandiri Bank, a state-owned bank, and DKI Bank, the Jakarta provincial government, have adopted Everspin’s security solutions.
In addition to its success in Indonesia, Everspin has also begun to actively target the African continent’s markets, including finance, energy, and public institutions, through a partnership with South African company Afriko last year. Based on this more solid global reference, Everspin plans to accelerate the expansion of its overseas business areas.
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