To offer a foundation for cross ecosystem partners to build on to achieve 1 billion device usage
SINGAPORE, 22 April, 2021 – V-Key, a leading Singapore software-based digital security company, announced today the launch of a global Digital Trust Platform that allows businesses to deliver new and trusted digital solutions more effectively to their customers through it.
The Digital Trust Platform provides a security foundation on which companies can build a range of Digital Identity services for Mobile and IoT devices with the same security foundation that V-Key delivers today for banking and government customers.
V-Key announced this at its inaugural Digital Trust Symposium 2021 at EY Wavespace this afternoon, where Mr Alvin Tan, Minister of State for Trade & Industry and Culture, Community & Youth was the guest of honour. At the event, V-Key signed Memoranda of Understanding (MOU) with 4 other companies – Ascent Solutions, Evercomm, Oneberry and Redtea Mobile – who will be leveraging the Digital Trust Platform to deliver a range of innovative solutions for areas such as IoT tracking, energy monitoring, cyber-physical security, and telecommunications.
While the pandemic has certainly raised the awareness for the need of trusted digital solutions, security continues to be a key component that is often overlooked in many digital deployments. The cybersecurity threat landscape continues to evolve and with an increased reliance on digital services like online banking, payments, and government transactions, it is critical that companies focus on building trust in the new digital economy.
Joseph Gan, CEO & Co-Founder at V-Key, said, “We aim to help our partners offer new digital solutions with the Digital Trust Platform providing security and privacy protections, global certifications, and digital identity solutions hosted in the cloud. We want to secure all the nodes along the whole digital journey, delivering trusted transactions using digital devices and services across all ecosystems.”
Broadening business segments to scale up
V-Key has been providing Cybersecurity and Digital Identity solutions to meet the needs of the Government and Financial Services for the last decade. With this established track record, V-Key is now widening its reach to new verticals and industries to drive the pervasiveness of its technology. This is to ensure the highest levels of Digital Trust through a range of additional services that can cater to diverse industry needs.
The company aims to secure 1 billion device usage together with new ecosystem partners’ digital services offering. It has embarked on a journey to establish strong partnerships locally and globally to meet the needs of various industries. Working with global partners like Microsoft, V-Key aims to deliver robust and well-supported solutions in the Azure cloud that facilitates fast deployments, while partnerships with companies like Redtea Mobile offer inroads into the vast Telco industry. Ernst & Young is also looking to incorporate the Trust Platform into their Innovation ecosystem which will boost the cybersecurity offerings.
V-Key also signed collaborative MOUs with local partners Ascent Solutions, Evercomm, and Oneberry, enabling them to strengthen their capabilities in offering digital solutions across the Transportation, Energy Management, Biometrics and Telecommunications sectors.
The collaborations between V-Key, Ascent Solutions, Evercomm and Oneberry were facilitated through Enterprise Singapore’s Scale-up SG programme, of which all are participants of. Scale-up SG supports high-growth local companies to scale rapidly and groom them into future global champions. Through the programme, in particular the peer learning and networking sessions, the participating companies had the opportunity to identify new business opportunities, explore collaborations and stretch their growth ambitions together. V-Key is also a part of IMDA’s Accreditation programme, which accredits promising and innovative Singapore-based high-growth ICM product companies, to create breakthrough opportunities for them.
There are also a range of other collaborations in the areas of Healthcare, Insurance, AI, Biometrics, and blockchain that V-Key is looking to bring onto the Trust Platform in the near future.
About V-Key
V-Key is an internationally-acclaimed software-based digital security company, headquartered in Singapore. V-Key’s pioneering technology powers ultra-high-security solutions on premise and Cloud-based, for digital identity management, user authentication and authorization, IoT, as well as electronic payments for major banks, payment gateways, and government agencies.
V-Key is the inventor of V-OS, the world’s first Virtual Secure Element. Internationally patented, V-OS uses advanced cryptographic and cybersecurity protections to comply with standards previously reserved only for expensive hardware solutions. V-OS is FIPS 140- 2 validated (US NIST), Common Criteria EAL3+ certified and accredited by the Infocomm Media Development Authority of Singapore (IMDA).
