TM ONE secures Korea’s FNSV blockchain authentication solution
By Digital News Asia February 19, 2021
- TM ONE, PT VADS to work together in providing BSA solutions in Indonesia, Malaysia
- BSA’s blockchain verification tech claims to make it impossible to penetrate
TM ONE and its subsidiary PT VADS Indonesia has inked a business agreement with Korea-based FNS Value Co. Limited (FNSV), to appoint PT VADS as the sole distributor of Blockchain Secure Authentication (BSA) solution for the Indonesian market.
TM ONE is the enterprise and public sector business solutions arm of Telekom Malaysia Berhad (TM).
The signing ceremony was conducted virtually and the documents were signed using the TM ONE Digital Signature Solution (TMODS). TM One said it is a certified online signing platform, compliant to Malaysian Communications and Multimedia Commission (MCMC) Digital Signature Act 1997, making the document legally-binding and recognised by Malaysian court of law.
Signing on behalf TM ONE was Ahmad Taufek Omar, executive vice president and chief executive officer (CEO) of TM ONE. PT VADS was represented by Saravanan Belusami, CEO of PT VADS, while FNSV was represented by JEON Seung Ju, its CEO
“This is a significant partnership for our subsidiary PT VADS as we make a stamp in providing advanced managed security services to our customers in Indonesia. This is very essential as almost all transactions are done digitally in the current business environment and users are looking for more secured and advanced login method,” Ahmad Taufek said in a statement.
“By using BSA, consumers will no longer have to remember their passwords to perform transactions on any devices. It also solves other cybersecurity concerns such as credential attack and hijacking. Currently, biometrics in most mobile apps only allow users to perform simple functions such as checking their account balance but not for transaction approval. This will definitely pave the way for more digital lifestyle and businesses,” he added.
BSA is a password-less authentication solution powered by blockchain verification technology, which the company claims makes it impossible to penetrate. This, in theory, will benefit businesses and industries that require strong and trusted authentication services for web, mobile login and secure access for online-based transactions, especially Internet of Things (IoT) and Smart Services.
Through this agreement, TM ONE, PT VADS, and FNSV will work together in providing BSA solutions, to increase security, reduce operational cost and improve customer experience, for the Indonesian and Malaysian markets. TM ONE was appointed as the sole distributor of FNSV’s BSA products and solutions for Malaysia and as the strategic partner for Asean region last year.
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