About:

Why V-Key?

Smartphones are becoming increasingly ubiquitous in our lives, with 30% of the world's population owning a smartphone. Usage of mobile banking, mobile payments, mobile-capable government services and mobile enterprise workforce enablement has grown equally rapidly.  For example, $450 billion in mobile payments were made in 2015, with an anticipated growth to $10,800 billion in 2019 (according to NFC World).  The share of PC vs mobile in eCommerce was $300 billion PC versus $20 billion mobile in 2013, and expected to change to $350 billion PC versus $620 billion mobile in 2020, according to Statistica.  

Current security measures comprising a mixture of hardware and SMS-based authentication, present significant challenges. Clearly, there is a growing need for higher standards of mobile security, deliverd for all mobile devices ubiquitously, along with a refinement of user experience across a wide range of user touch points and usage scenarios.

V-Key’s pioneering products and services were created to meet these emerging challenges.

  • Secure Multi Factor Authentication

    Traditional security methods such as passwords are under increased stress due to online attacks and users’ continued usage of weak passwords or sharing of passwords across multiple online devices.

    Traditional security methods such as passwords are under increased stress due to online attacks and users’ continued usage of weak passwords or sharing of passwords across multiple online devices.
     

    As a result, banks and governments are looking to significantly increase their standards of mobile security. However, they do face a number of challenges:

    • High cost and inconvenience of Second-Factor Authentication (2FA) hardware tokens per customer
    • High cost and unreliability of one-time passwords sent via SMS
    • Cost and unpredictability of physical distribution
    • Rejection of insecure mobile tokens by regulators
    • Need to protect against advanced persistent threats and man-in-the-middle attacks
    • Need to develop and produce new, secure mobile devices

     

    Enterprises have their own set of challenges:

    • Allowing convenient access to corporate services without staff members having to carry hardware tokens
    • Finding a truly secure software token
    • High cost of hardware solutions

     

    More
  • Protecting Payments

    Cloud-Based Payments make use of tokenized credit card keys and other fraud detection mechanisms to mitigate the security risks of a purely software-based mobile security approach. 

    Cloud-Based Payments make use of tokenized credit card keys and other fraud detection mechanisms to mitigate the security risks of a purely software-based mobile security approach. 

    However, banks need to put in place additional mobile software security mechanisms to protect their mobile payments from cyber-attacks. 

     

    In protecting payments, the main challenges banks face are:

    • Processing protected key materials so that data can never become exposed during cryptogram generation
    • Processing and decrypting encrypted payloads such as keys from the CBP server
    • Performing housekeeping operations on protected keys, allowing seamless synchronization between the original CBP SDK and CBP TA

     

    More
  • Protecting identity and personal / application data

    Today, banks, governments and enterprises are looking to fortify mobile security measures and protect data such as Personal Identifiable Information (PII) from security lapses and attacks.

    Today, banks, governments and enterprises are looking to fortify mobile security measures and protect data such as Personal Identifiable Information (PII) from security lapses and attacks.

    Verification of identity has always been based on face-to-face interactions and on physical documents and processes.  On-going day to day verification of identity has also been largely based on physical devices (cards, passports and the like) issued by ‘trusted entities’ such as banks or governments. 

    The transition to a digital economy has changed that, and mandates a very different approach to identity systems.  

    In a world that is increasingly governed by digital transactions and data, and with mobile authentication and mobile payments becoming more commonplace, our existing methods for managing security and privacy are no longer adequate. Instances of data breaches, identity theft and large-scale fraud are on the rise.

    In addition, a significant portion of the world’s population lacks the necessary digital credentials to fully participate in the digital economy.

    Our technology is designed to address the multiple issues that banks, government agencies and enterprises face with every transaction and every interaction. Thus identity, and the protection and controlled use of data and attributes associated with identity and authentication, are central to our approach.

     

    More
  • Vision:

    To have V-OS Virtual Secure Element secure every mobile application in the world.

  • Mission:

    • To make possible a secure digital world where the mobile application is often the primary channel for mobile authentication, interaction and transactions.
    • To be the highest grade of security for all our customers, whether it’s for consumer, banking, government or military applications.
    • To allow businesses to roll out cloud-based payments and any other form of secured mobile applications without the need for any form of hardware secure element.
    • To provide complete mobile application security for any mobile application on any smartphone without additional hardware.
    • To dramatically elevate users’ mobile usage experience, data privacy, and expectations of convenience and security for all of life’s transactions. 

People:
The Executive Management Team:
Benjamin Mah - Co-Founder, CEO

Benjamin is a digital security pioneer who has built two digital security companies before founding V-Key: e-Cop (acquired...

The Executive Management Team:
Joseph Gan - Co-Founder, COO

Joseph (formerly our CTO) is a digital security pioneer who holds multiple patents. Prior to founding V-Key, he was...

The Executive Management Team:
Er Chiang Kai - CTO

Chiang Kai is an experienced software development leader, specializing in the design and development of security...

The Executive Management Team:
Stephen Loh - CFO

Stephen has more than 30 years’ experience in the financial services industry; across stockbroking, securities...

The Executive Management Team:
Tony Chew – CIO

Tony was formerly APAC Regional Head of Information Security at Citibank and from 2014 - 2017 concurrently also served as...

The Management Team:
Yang Xu Dong - Head of Product Management

Xudong is formally trained as a security practitioner. He is also certified in wireless auditing, digital forensics, ethical hacking...

The Management Team:
Michael Tan Sun Sing - Vice President of Engineering

Michael is a project management professional with more than 15 years’ experience in all aspects of delivering IT...

The Management Team:
Ng Kim Hock - Head of Project Management

Kim Hock has over 20 years’ experience in the IT Industry. Most of it was spent in large system integration companies...

The Management Team:
William Lim - Business Development Director

William has more than 20 years’ experience in the IT and Financial Services Industry. He started at Andersen...

Awards:

Since its inception, V-Key has been the proud recipient of multiple accolades from all over the world.
Here is a summary of our growing list of awards.

  • 2016
    • National Infocomm Awards - 2nd Runner Up for Most Innovative Product/Solution
    • Asian Banker Technology Innovation Award for Best Mobile Banking Project - Retail
  • 2014
    • CIO Review CIO Mobility "20 Most Promising Mobility Solutions Providers"
  • 2013
    • Innotribe Startup Challenge 2013 Finalist • Frost & Sullivan Asia Pacific Best Practices Award
  • 2012
    • Red Herring 100 Global Winner
    • Red Herring 100 Asia Winner
    • ASEAN ICT Bronze Award (Start-up)
    • SITF Gold Award (Emerging Technology)
    • SITF Silver Award (Mobile Application)
    • SITF Bronze Award (Startup)

Certifications:

V-Key products have also been recognized by numerous testing and accreditation bodies around the globe.

V-OS Virtual Secure Element has been internationally patented in the USA, Singapore, and Australia, and is patent-pending in Europe and China.

V-OS Virtual Secure Element has been accredited by the Infocommunications Media Development Authority of Singapore (IMDA), the technology development and regulation statutory board of the Singapore government. 

V-OS Virtual Secure Element is FIPS 140-2 Level 1 Validated by the US government’s National Institute for Standards and Technology (NIST) Cryptographic Module Verification Program (CMVP).

V-OS Virtual Secure Element’s cybersecurity resiliency is unquestionable, and has never been broken in more than 9 security penetration tests.

Partnerships:

We have set up a partner program and are actively engaged on projects with two of the top five global consultancies. We also form partnerships at a local level with our customers’ incumbent systems integrators and secure managed services suppliers.

To become a V-Key Partner, please contact us here. 

CONTACT V-KEY