Digital security is Securemetric’s forte

PETALING JAYA: The Covid-19 pandemic has become the accelerator for the transformation of the digital economy and with the forced shutdowns many businesses have taken their business online to ensure cash flow continuity and sustainability. With rapid digitization, many businesses without proper digital security fortification have become extremely susceptible to online security breaches.

This is where Securemetric Bhd comes into play. Securemetric is a Malaysian digital security technology company providing innovative solutions throughout Southeast Asia and beyond. The company’s vision is to play a key role, particularly in the digital transformation of the region’s economy.

Securemetric CEO Edward Law (picture) said the company focuses on three areas of digital security: securing digital identity, securing mobile applications and securing online transactions.

Securing the digital ID is a process to help organizations or governments establish a public key infrastructure that will form the foundation of trust within the digital economy.

Securing Mobile Applications creates a framework to protect mobile applications from highly vulnerable mobile phone environments through runtime application self-protection.

Securing online transactions applies strong user authentication to ensure that only authorized users can complete a digital signature transaction to obtain legally binding authorization with tamper-proof protection.

Securemetric recommends that companies take care to secure their digital footprint for their businesses, as fraud is rampant as businesses go digital.

Law has introduced two cloud-hosted Security-as-a-Service (SaaS) solutions from Securemetric that can protect businesses and agencies for day-to-day transactions:

Signing Cloud

SigningCloud is a secure cloud-hosted digital signature service that has been designed as a fully PKI-based digital signature cloud. This means that each signer must log in with their digital ID via SigningCloud ID or Trusted Certificate Authority ID.

“Our vision is to make SigningCloud the universal signing platform that supports many trusted digital IDs across Southeast Asia.”

Centagate Cloud

Centagate Cloud is a cloud-hosted authentication service similar to Okta and Onelogin. It can help organizations deploy single sign-on – a single sign-on credential that can be used to access all enterprise applications.

“I think businesses would need seamless and effortless access to their business productivity tools. Centagate Cloud will be able to provide that ease of access,” Law said.

Innov8tif investment

As Securemetric evolves into a SaaS company to offer more comprehensive security solutions to various industries, its board of directors has made the decision to invest RM8 million in Innov8tif Sdn Bhd, a specialist security assurance company. AI-based digital identity, which includes emerging areas such as e-KYC (electronic know-your-customer) and mobile biometric authentication.

“The field of digital identity insurance has seen a surge in demand due to the pandemic. The Covid-19 and repeated confinements have pushed companies to prioritize the digitalization of the process of integrating their customers.

“With the risk of financial loss or fines from authorities due to the embedding of fraudulent credentials, businesses find it necessary to include e-KYC as part of their customer acquisition process. digital,” Law explained.

The 2021 Identity Fraud Study released by Javelin Strategy & Research found that total combined fraud-related losses reached US$56 billion in 2020 and are expected to increase in coming years.

“We invested in Innov8tif because of their strong and proven track record, particularly in their area of ​​digital identity assurance. There are many synergies between the two companies in terms of market access, with Innov8tif having a stronger presence in Malaysia while Securemetric has a stronger market share in Southeast Asia, as well as technologically.

Eventually, both companies will explore the potential of cross-selling which will bring mutual benefits.

Securemetric – a company with a solid formula for digital security

Securemetric is a leading digital security player in Southeast Asia, with a particular focus on software license protection (software license dongle, software protection dongle), 2-factor authentication, management advanced identity and access, public key infrastructure and cryptography. Since its incorporation in 2007, Securemetric has expanded its presence with local establishments in Indonesia, Singapore, Vietnam and the Philippines.

“While the trend for reliable, quality digital security solutions has shifted from ‘nice to have’ to ‘must have’, the main challenge remains the total cost of ownership dominated by the US dollar or Euro.”

Law said local and Southeast Asian markets need options that best fit their pockets and also someone who understands and solves their problems better.

“We believe that with our accumulated experience of more than a hundred years in critical digital security, we can be on par with global brands and offer options suitable for the Southeast Asian market and beyond.”

Sylvia B. Polson