Press Releases

Everspin Proves 'K-Security' in Indonesian Financial Market with Eversafe and FakeFinder

2025.01.02

AI security company Everspin is creating a sensation in the Indonesian financial market with its hacking prevention solution 'Eversafe Mobile' and malicious app phishing prevention solution 'FakeFinder.' Everspin (CEO Young-bin Ha) announced on the 2nd that it has supplied these to BNI Securities, a major Indonesian brokerage, and Bank Sumut, a North Sumatra provincial government bank with over 200 branches. Following its supply to Jago, Southeast Asia's largest internet bank with 30 million users, in 2022, Everspin has been supplying solutions to major financial institutions such as Mandiri Bank (Indonesia's top state-owned bank) and Bank DKI (Jakarta provincial government bank). Everspin's flagship product, Eversafe, is a solution that combines MTD (Moving Target Defense) technology, which infinitely generates hacking prevention security modules so that a new security code operates every day. Unlike existing security solutions that are exposed to hacking risks due to fixed security codes, Eversafe changes security codes in real-time to neutralize hacker attacks. An Everspin official explained, "MTD technology is a technology whose necessity was emphasized by the U.S. government, but it existed only in theory; there were virtually no technologies commercialized for services used by many users like actual financial institutions. Everspin's MTD technology is the first to succeed in commercializing this." Everspin's MTD technology is a verified technology that has obtained patents in 11 major countries including Korea, the U.S., Europe, and Japan. FakeFinder also features market-leading innovative technology. It is the only phishing prevention solution with an applied white-list developed by Everspin, where AI collects global app info to build a DB and pre-detects abnormal malicious apps by cross-checking with it. Unlike the blacklist method, which stops at preventing recurrence by listing malicious apps discovered after the fact, this technology can block unknown new malicious apps. FakeFinder is supplied to major domestic financial institutions such as KB Kookmin Bank, Kakao Bank, K-Bank, NH Nonghyup Bank, KB Card, Samsung Card, Samsung Fire & Marine Insurance, Samsung Life Insurance, Hanwha General Insurance, and Shinhan Investment & Securities. Everspin reported that the effects were immediate upon implementation at BNI Securities and Bank Sumut. BNI Securities and Bank Sumut detected and prevented an average of 159 cybercrime attempts per day. Bank Sumut, in particular, achieved the effect of preventing 213 cybercrime cases on December 5 last year alone. An Everspin official predicted, "Indonesia, with a population approaching 300 million, is seeing a surge in mobile banking and explosive growth in digital finance, and consequently, a surge in cybercrime. Securing successive successful local references in the Indonesian market will be a powerful stepping stone for growth across the Southeast Asian market in the future."