Press Releases

Everspin Drives Fintech Sector with Eversafe and FakeFinder

2024.11.18

Everspin (CEO Young-bin Ha), an AI security company based on Moving Target Defense (MTD), has supplied security solutions such as Eversafe and FakeFinder to the global fintech company Hecto Financial, embarking on a new market expansion. Hecto Financial is the leading domestic company in account-based payment services. It is the only company in Korea to hold all primary payment methods. It provides services ranging from simple cash payments, credit cards, and mobile phone payments to overseas settlements as a payment gateway (PG). Eversafe applies 'MTD (Moving Target Defense)' technology, which self-changes security modules in preparation for hacking attempts, protecting the system from external attacks. FakeFinder collects all app information in existence into a white-list database (DB) and cross-checks it with apps installed on a user's terminal to detect malicious apps. It has overcome the limitations of blacklist-based solutions that only detect malicious apps that have caused accidents and is recorded as the market share leader in the domestic financial industry as a technology capable of responding to newly created phishing tactics. Everspin, which has about 80 major domestic financial institutions as clients—including KB Kookmin Bank, Kakao Bank, NH Nonghyup Bank, IBK Industrial Bank of Korea, K-Bank, Samsung Card, Samsung Fire & Marine Insurance, Samsung Life Insurance, Hanwha General Insurance, Korea Investment & Securities, KB Securities, Korea Federation of Savings Banks, General Insurance Association of Korea, Korea Life Insurance Association, and KOSCOM—plans to In earnest develop new markets starting with Hecto Financial. Everspin is expanding beyond its traditional market of the financial industry into PG, public sector, defense, and entertainment. Recently, it has been accelerating global expansion by supplying solutions to numerous financial institutions in Indonesia and signing a partnership with Afriko in South Africa.