Airome Technologies has signed a reseller agreement with iTEKO in Indonesia, as the Singapore-based security specialist targets an expanding banking market.
The move is designed to create an integrated go-to-market solution for banks and the fintech ecosystem, with iTEKO leveraging the vendor’s cyber security offerings specific to digital banking and e-document management systems.
“Indonesia is at critical inflection point in its transformation journey,” said Denis Kalemberg, co-founder and CEO of Airome Technologies. “A resurgent economy, Indonesia is taking bigger strides through rapid technology adoption, an evolving consumer paradigm, driving towards being a middle-income country in the next few years.
“The country’s vibrant and successful start-up ecosystem is a testament to the positive changes happening in the Indonesian economy.”
On the other hand, Kalemberg said increasing cases of cyber attacks represents an area that the country must address “swiftly and definitively”.
“With rising digital payments, we are seeing an increase in fraud and rise in unauthorised online transactions,” he added. “Our strategic partnership with iTEKO reinforces our commitment to the Indonesia market, where we see immense potential.”
Airome specialises in the protection of payments within the financial sector, generated via any digital channels, such as internet banking, mobile banking, CNP (card-not-present) operations and private banking.
During the past 12 years, Kalemberg said iTEKO has played a "key role" in connecting Indonesia and Russian business leaders, through “facilitating key business deals and supporting growth for its partners”.
“Our partnership with iTEKO helps us accelerate our go-to-market strategy and help financial organisations in Indonesia to lower the risk of unauthorised transactions caused by man-in-the-middle, phishing, and social engineering attacks,” Kalemberg said.
“Our solution PayConfirm is secure, easy-to-use and convenient for the bank’s client and the most importantly cost-effective for banks and financial institutions. We believe that the solution is essential, timely and relevant to the market, considering the dynamic shifts taking place in Indonesia and the broader Southeast Asian region.”
Three members of a group that infected hundreds of websites from around the world with payment card stealing malware were arrested in Indonesia in January, the International Criminal Police Organisation (INTERPOL) revealed.
As reported by Channel Asia, the arrests are the result of a larger multi-national law enforcement investigation that continues in other countries from the Southeast Asia region.
The three suspects, aged 23, 27, and 35, are accused of using the payment card details they stole to purchase electronic and luxury items and then selling them for a profit. They are facing prison sentences of up to 10 years.
“IT software and cyber security companies from Russia enjoy worldwide recognition and reputation,” said Maxim Tsalkin, CEO and founder of iTEKO. “Our partnership with Airome will help us drive better cyber security awareness and implement IT security solutions for the fast growing banking and financial organisations in Indonesia.”