MineSec and Build38 enter a partnership to bring SoftPOS to the masses

MineSec and Build38 enter a partnership to bring SoftPOS to the masses

The collaboration is focused in contributing to increase the acceptance of Contactless Payments through the use of standard mobile phones, enabling small retailers and independent providers of services to accept contactless payments without additional hardware costs. 

Accepting contactless payments from a standard phone at retail shops is becoming essential as social-distancing measures are enforced

Singapore, 22nd December 2020. MineSec, the Asian provider of the white-label SoftPOS solutions MineHades and MineZeus that allow Payment Services Providers and Acquirers to personalize and brand their own SoftPOS offering, is entering an agreement with Build38 to use its leading Mobile App Security Protection and Monitoring offering to secure their SoftPOS solution. In a nutshell, SoftPOS solutions are Apps that are downloaded from an App Store, e.g. Google Play, into a COTS (Commercially off-the-Shelf, that is, a regular phone as most end-users have) and, once activated and enrolled it can be used for accepting Contactless Payments through the NFC interface of the phone. Naturally, there are some requirements that the device has to meet, like supporting NFC, and some of those requirements are related to the security environment present on the device. As the devices process the payment transaction locally, there must be enough protections to guarantee that the transaction can not be compromised.

There are several specifications for the SoftPOS (sometimes known as well as mPOS, for Mobile POS, or Tap-to-Phone) but the one that will define the future of the industry is the PCI CPoC Specification. In its first release, it already defines the security and functional requirements for a solution to be compliant and accept contactless payments from a COTS Phone performed by a customer using a Contactless Credit Card or Mobile Pay on phone, e.g. Apple Pay. The joint effort by MineSec and Build38 will streamline the development and roll-out of CPoC compliant SoftPOS services by Payment Service Providers, Acquirers and, in general, any Fintech or retailer, in the shortest time-to-market and with the widest support possible.

Though the specifics of the agreement remain confidential, the collaboration comprises technical and commercial terms that will enable both companies to become lead players in this space. In particular for Build38, this further validates the mechanisms for mobile App Protection and Monitoring, like re-packaging protection, device attestation, root, emulator and hooking detection as well as the continuous monitoring of the installed base from their cloud service. Now, the SoftPOS use-case is an additional step forward in the broadening of the use-cases enabled by its solution and services, that already cover Transit Ticketing, Digital Identity and mID, Automotive and Mobile Banking. The ultimate goal for Build38 is to facilitate Service Providers of critical mobility solutions, like MineSec, to meet all the regulatory and industry security requirements in the shortest time-to-market and keeping them updated continuously through the lifetime of the Service. In this sense, keeping the solution and service updated to the latest security threats as well as the latest developments in mobile OS capabilities and device updates, is a critical part of the value provided.

Stay tuned for upcoming news in this space and, if you want to know more about Build38 and MineSec and how we can help you streamline the launch SoftPOS services, contact us here.


Participation at the Black Hat Asia 2020 conference by our APAC Managing Director

During the Black Hat Asia 2020 event, held between September 29th and October 2nd and that happened virtually this year due to the global COVID19 situation, there was a session where a panel of Singapore entrepreneurs discussed about the challenges that start-ups in the Cyber Security space have to face these days. Titled "Hunting Cheese in Pandemic Pandemonium" the discussion versed around the changes that different founders had to introduce in their companies and go-to-market in order to navigate the situation as best as possible. Inspired by the 90s’ business classic “Who Moved My Cheese?”, ICE71 partnered with Black Hat Asia to bring this live panel – where Cyber Security start-up leaders will come together to discuss how agile start-ups can strengthen or reposition themselves to add value during these times of change.

Build38 Managing Director in Asia-Pacific, Pedro Hernandez, was invited to take part as a member of ICE71 Scale Programme. He shared several perspectives on how Build38 has gone through the Pandemic situation and highlighting three different levels:

A first operation level where we had to adapt to the work-from-home policy, as it has become the norm, and the practical impossibility to travel for business in the South-East Asia region for several months. A second tactical level where marketing has been moved from physical events and trade shows to the digital space, through webinars and digital marketing campaigns. A third one, at the strategic level, where the overall plans and go-to-market had to be fine-tuned for the new situation that impacts some of the growth planning decisions.

Particularly,  Pedro shared his view how Build38 has shifted the client communication from achieving strategic goals (like preserving brand reputation and avoiding long term risks), to more tactical and short-term goals (like quicker time to market, reduced investment, and optimised resources).

More information can be found at this post from ICE71.


CYSEC and Build38 partner to streamline the secure deployment of Mobile App Security and Threat Protection

Lausanne - Switzerland, Singapore, Munich - Germany – June 4th, 2020

Build38 GmbH, the global provider of Mobile Application Security made in Germany, is partnering with CYSEC SA from Switzerland to offer a fully-integrated solution combining mobile and backend deployments for Enterprise customers.

Mobile app fraud is on the rise with a 70% increase year over year, jeopardizing business models, revenue streams and endangering customer data and company secrets. Build38 has developed an app shielding and mobile threat detection solution for the hardening of apps , identification of attacks and prevention of fraud. The Build38 solution is available as a service and protects mobile applications across various industries including automotive, banking, insurance, public transportation and healthcare.

Cryptography and secure key-generation are the key enablers of the innovative and cutting-edge next generation AI-based app protection and management platform called T.A.K (Trusted Application Kit).

While the security application is executed on the smartphone, the use of a backend fully delivers intelligence and attack resilience. While some Build38 customers choose to run it on the public cloud, depending on the region, some decide to deploy it in a dedicated environment as the application is considered security-critical, following the larger trend of the hybrid cloud model. The hybrid cloud approach consists of running all sensitive software in a separate environment (in a secured cloud or in a physical server) that provides better protection and more control. Safer deployments may also be required to comply to national regulations specifying that certain data cannot leave the country or must be handled following strict security standards.

In order to build and deploy a security-sensitive application with critical data in the backend, an organization must integrate a range of security tools and components. Such patchwork solutions are today difficult to manage, hard to scale, and prone to security weaknesses. The market lacks an all-inclusive, certified and integrated cybersecurity solution.

CYSEC provides such an all-inclusive cybersecurity solution that integrates all the components needed to deploy rapidly a secured backend infrastructure. This is achieved by integrating all the security components in a unique certified appliance that abstracts the application layer by running containerized software using the modern virtualization tools like Docker, Kubernetes, etc.

As a result, ARCA offers an unprecedented combination of security performance and ease of deployment, allowing companies to benefit from the best protection without changing the tools they currently use.

It was natural for CYSEC and Build38 to enter into a partner agreement. Both companies are joining forces to integrate the T.A.K application into the secured environment ARCA and offer it as a fully integrated and ready-to-use package, either on premises on a physical ARCA server or as a service from the CYSEC datacentre in Switzerland.

The joint solution will combine the benefits of the Build38 mobile app protection with the secured backend implementation on ARCA streamlining the efforts for deploying them.

 

Christian Schläger, CEO at Build38 GmbH: “We’re delighted to be able to offer to our customers a fully-integrated package of our T.A.K. application on the ARCA backend infrastructure. We want to be able to provide the implementation model that suits the best our customers needs, being on the cloud or on premises. We‘re having more and more requests for deployments on premises and ARCA beats all competition by offering a secured backend infrastructure without the pain that usually goes with it.”

Patrick Trinkler, CEO at CYSEC SA said: “Mobile security is definitely a burning issue for many industries and the Build38 in-app protection provides a compelling solution. We’re very happy to offer Build38 customers a secured and compliant backend implementation of the T.A.K. application with the same process and efforts as deploying it on a public cloud.”

 

About Build38 GmbH

Build38 is a global provider of mobile application protection solutions. Its Trusted Application Kit (T.A.K) represents a new generation of app-hardening technologies that protects apps from known and unknown attacks and opens the market to new digital business models. Build38 protects applications across various industries including automotive, financial, public transport and health care. Build38 is headquartered in Munich with global offices in Barcelona and Singapore. The company is a spin out of Giesecke + Devrient and ranks among the best IT Security startups in Germany. For further information about Build38 visit www.build38.com

About CYSEC SA

CYSEC SA is a cybersecurity company based at the EPFL Innovation Park in Lausanne, Switzerland, whose mission is to shorten the time-to-market of innovative services by facilitating their integration into a secured IT environment. In order to achieve its mission, CYSEC developed a general-purpose security platform called ARCA able to store data and execute applications in a Trusted Environment. By lowering down the barriers to protect data and software, CYSEC enables its customers to benefit from a whole new level of flexibility and agility which is a game-changer today considering the fast-pace at which security and business requirements evolve. CYSEC focuses on the provision of its cybersecurity solutions in four vertical sectors, namely financial services, IoT, space and telecoms. For more information, please visit www.cysec.systems


TeleTrusT Special Offer: Complimentary Mobile Security Solution „Be first to get your customers back“

Dr. Christian Schlaeger, CEO & Co-Founder of Build38 Build38 wants to support TeleTrust partners and other companies in a difficult economic time to quickly implement their mobile applications and digitization efforts. We see every day that the mobile app becomes the preferred access and contact with your customers. We are your service and solution provider in difficult times: Focus on the app and the interaction with your customers, and we provide the security. So you are faster on the market and save time and resources, so that your customers can rely on you – who you rely on #BuildonBuild38.

Our offer for you until 15.7.2020: Start a PoC of the Trusted Application Kit (T.A.K) with us and get free access to your personalized development and test platform on our Build38 Cloud. You get personalized and specially secured SDK components for up to 2 apps (each on iOS and Android). Our DevOps team will support you with up to 3 days of integration support. You also get access to the documentation, learning materials and code examples for the fastest app integration available on the market! Go live with the apps in the App Store until the end of June 2020 and get 3 more months of free use of the Build38 T.A.K Cloud platform.

T.A.K protects your mobile app and your customers’ data against attacks. Access to sensitive data, storage and transmission of data is protected by T.A.K. We support companies in implementing their security requirements for apps more quickly in order to gain satisfied customers on the market faster. Your security and compliance teams always have a detailed overview of how your apps are being used in the field and can intervene with appropriate measures at any time.

T.A.K Mobile Security SDK and platform is made by developers for developers, with the goal of easy integration into your Android and iOS projects. You no longer need special expertise in cyber security, which makes development faster and more efficient. Our security as a service approach keeps app security always up-to-date.

Not part of the offering is the Trusted Governance Kit T.G.K. the GRC solution for app monitoring and management. If you have any questions, please contact us.

Build38 is a global cyber-security company with customers from various industries, such as finance and insurance, automotive, health care, and more.

Contact us directly: servus@build38.com 


Business continuity during COVID-19 outbreak

Dear all,

The challenges we all face currently with the COVID-19 outbreak can not be faced alone. Build38 has been working against the COVID-19 impacts right from the start helping our customers in China, having colleagues and an office in Singapore and now being indirectly affected with the teams in Munich and Barcelona.

As a result, we have strengthened two areas for our customers:

 

  • Security as a Service – integrating new features and functions for you so you can concentrate on your main business and leaving constant security and compliance to us
  • Full-service provider – integrating app development capabilities with our certified partner to offer you the complete solution and support you need from the front end (App) to your backend, SIEM integration and

For our colleagues and their families, we have strengthened the already existing possibilities for home office and flexible work time. The health of our team and their loved ones is extremely important to us. All non-essential travel has also been suspended, and all internal and external meetings will take place virtually. We understand this may impact some planned meetings, but we hope that all participants understand the gravity of the current situation.

As a company we have taken the necessary measures and updated our planning to fight the economic challenges. All our s Christian Schlaeger Build38 ystems are cloud-based and are fully automated, so we can reassure you that our service delivery functions will continue without disruption. Our staff remains available via the known virtual channels.

We stay sharp and vigilant to help our customers worldwide with the best service from Singapore to Barcelona and support our current pilots and PoCs and everyone interested in getting into the mobile market to stay in business.

We from Build38 wish you all to stay healthy and thank you for your understanding.

Yours,

Dr. Christian Schläger
Managing Director (CEO) & Co-Founder


Build38 Closes an Exceptional 2019, Exhibits at RSA Conference and Continues its Commercial Expansion

MUNICHMarch 2, 2020 /PRNewswire/ -- Build38, the global provider of Mobile Application Security made in Germany, closes 2019 at a new high with a total order intake in the single-digit million Euros. As the first full financial year for the company, this gives an encouraging message that its solutions and services are finding the way to market. With existing commercial references in Automotive, Financial Industry, Mobility, and Digital Identity, 2020 is going to be the year for the scaling in those verticals and further growth.

To continue supporting that commercial expansion, Build38 was present as an exhibitor at the RSA Conference in San Francisco, taking place on the last week of February. For almost 30 years, RSA Conference has been a driving force behind the world's cybersecurity agenda. The central point where people from around the world gather to share, learn and grow. Build38 welcomed current, and future, customers, partners, and investors at its booth and had breakthrough discussions and showcased beyond the cutting edge in-App protection capabilities, its Mobile Threat Detection and Analytics latest developments.

The young company was also featured in Europe last week as one of the 12 startup companies selected for the semi-final for the 4YFN Award competition.

As part of the commercial expansion, Build38 has signed agreements for the provision of their solutions and services with several partners, including markets like GermanySpainBulgariaAustriaPhilippinesSingapore and Taiwan. Adding to the existing agreements, the reach of Build38 grows steadily.

About Build38

Build38 is a global provider of mobile application protection solutions. Its Trusted Application Kit (T.A.K) solution combines AI-platform and strongest app shielding technology which protects B2B and B2C mobile channels from fraud and reduces your compliance risk exposure. It also enables new use cases and opens the market for new digital business models. Build38 protects applications across various industries including automotive, financial, public transport and health care. Build38 is headquartered in Munich with global offices in Barcelona and Singapore.

For further information about Build38 visit www.build38.com


Business Insider News: Build38 Closes an Exceptional 2019 and Will Be Exhibiting at RSA Conference...

Build38 was mentioned in the news apropos our year end financials and the traction our young company already gained in 2019.

Read more on Business Insider Markets:

https://markets.businessinsider.com/news/


An Interview with Pedro Hernandez, APAC Managing Director and co-founder of Build38

This interview was published on the ICE71 Blog as part of their founder series of members of their Scale Program. It can be accessed here.

We recently caught up with Pedro Hernandez, APAC Managing Director and co-founder of Build38, an ICE71 Scale startup. Pedro shared about the story behind Build38 as well as his thoughts on mobile app security and the digital wallet space.

What inspired you to start Build38, and what’s your role in it?
The mobile experience has become part and parcel in everything we do. Just think about actions and habits such as accessing your bank account, opening your car door, and saving your personal photos in your phone. These conveniences require access to personal and private data.

Inadvertently, these data may include those of our family. My co-founders at Build38 and I realised this earlier on, especially when we are all dads with kids (daughters, to be exact). My daughter was born in Singapore two years before the founding of the company in 2018. When you enter parenthood, protection and safety of your private and family lives become a concern. That naturally led us to focus in the protection of mobile applications to safeguard our online data—and our daughters’!

I have been working in the Mobile Security space for many years, from SIM Cards to Mobile Payment solutions in Europe and Asia Pacific, so it was a smooth transition for me. Currently, I’m taking care of the business in the Asia Pacific region for Build38.

How did the name “Build38” come about?
“Build” is there because our solution is used to build secure and relevant mobile apps and services. “3” is the number of locations where we have footprints—Munich, our HQ; Barcelona, the main development and operations centre; and Singapore, our Asia Pacific hub. “8” is the number of employees when we first started the company. Interestingly, in Chinese numerology, 3 sounds like “life” and 8 typically means “to prosper”. So you could say that our name means “build a life of prosperity”—a pretty good sign!

There are many mobile security solutions in the market. How does Build38 differentiate its product called “TAK”?
The Trusted Application Kit (TAK), is a combination of client and server protection which is unparalleled in the market. On the client side, TAK provides “hardening” of a mobile app, and for this purpose it has met very stringent security requirements. It’s been used in the financial, automotive and digital identity industries. With TAK, we combine the increase in app security (app hardening) with a monitoring service of the app. This service provides real-time data and AI-powered insights for our customers, keeping their apps secure and preventing breaches and fraud. These secured apps become “self-defending”.

Share with us an interesting client use case or two.
Our solution was originally conceived to protect mobile payments, but ended up in a very diverse number of use-cases. For instance, in China, one of the largest carmakers is using our solution to protect the mobile app they provide their customers to open a car and remotely start its engine. It was critical for the app to work even in an underground parking space without network coverage. That was a challenge from security perspective, and that was what we achieved.

In Germany, you can purchase subway tickets from your mobile phone. This convenience created a side problem—users started creating “clones” of the tickets and shared them with their friends and family, so a season ticket can be used by several people. The transit operator had to suspend this way of buying tickets! Our solution prevented ticket cloning, reducing such a fraud. We pride ourselves in protecting the bottom line of our customers in reducing fraud. Because app protection enables business where none was conducted before, we ultimately help our customers increase their revenues.

We’ve been hearing a lot of news around the digital wallet space in Singapore recently. For example, Grab recently launched Asia’s first numberless card with Mastercard. Local banks such as DBS and OCBC are also rolling out efforts for customers to use Google Pay without a credit card from 2020. What are your thoughts about this?
These developments make our lives exciting and are the reason behind our presence in this region from day one. Europe is a homogeneous and legacy-type market in payment infrastructure. On this side of the world, though, we see innovative markets exerting a big influence in introducing new ways of payment and money remittance.

Singapore is at the forefront and has become a test bed for many of these new payment methods, so we see associated security challenges emerging. You probably read in the news how some ride hailing apps were hacked in order to give some drivers an advantage in the acceptance of rides. User verification and tracking has become a challenge too, and we do see some interesting approaches here. With our solution, these challenges can be addressed, and we are pretty thrilled that we are already in discussions with many of the market players. We find lessons learned here useful as we can bring them back to other markets and be at the leading edge.

Cybersecurity is the protection of any computerised system from any compromise that would have a negative effect (trust, financial, personal) in the physical world. – Pedro Hernandez


Build38 exhibiting at the Singapore Fintech Festival & SWITCH

We are very excited to share that we will be present at the Singapore FinTech Festival & SWITCH. As one of the startups selected by the Catalonia Trade and Investment agency, we will be at the Catalonia International Pavilion of the SFF x SWITCH. Come and visit us, enjoy some souther european hospitality and learn interesting facts, like that Build38 largest workforce chunk is based in Barcelona, a vibrant and innovative city that has become a key place for entrepreneurship in Europe and globally. Meet our Asia Pacific Managing Director, Pedro Hernandez, and talk to our Head of Product Architecture, Marc Obrador, for the latest insights on Mobile App Security and Fraud Management.

The Singapore FinTech Festival & SWITCH exhibition will be held between the 11th and 13th of November at the Singapore Expo (Hall 1 to 6), 1 Expo Drive. Singapore 486150. Opening times are 10am to 6pm.


Build38 selected for the Scale Programme of ICE71

Build38 is proud to announce that it has been selected to be part of the Scale Programme of ICE71, the leading Cyber Security Accelerator in Asia-Pacific. ICE71 founding partners are Innov8, the Singtel group corporate Venture Capital unit, and NUS Enterprise, the entrepreneurship arm of the National University of Singapore.

As part of the programme, the Singapore team of Build38 will take residency at the accelerator and able to benefit and contribute to the thriving Cyber Security ecosystem of Singapore and the region. Due to the unparalleled activities and initiatives of ICE71, Pedro Hernandez, Managing Director of Asia-Pacific and Co-Founder of Build38 stated: "We are extremely honoured and happy to be part of ICE71. Singapore, as the most competitive economy in the world and a reference in the Asia-Pacific region, it's a strategic location and ICE71 is the place to be for Build38 as a Cyber Security Start-up with plans to extend our footprint in the region".

ICE71 is located at 71 Ayer Rajah Crescent, the core of the one-north Science, Research and Innovation district of Singapore, hence exposing the Cyber Security ecosystem to multiple disciplines and forging new connections. Now the Asia-Pacific team of Build38 will be benefiting from that exposure too.