TrustSec Supervisory Board Members 2021 – TrustSEC
TrustSec Supervisory Board Members 2021. PRESS-RELEASE 2021-02-16 Poland, Szczecin (February 16, 2021) – TrustSec is pleased to announce the appointment of three new supervisory board members, Konstantin Papaxanthis, Hans Graux, Stein Eitrheim, and Reinoud Weijman as an advisor to the Board, who all have extensive experience in the information security market and who will add significant value to TrustSec. Konstantin Papaxanthis has accepted a position as our board chairman. He is an entrepreneur with a 20 year long successful career within IT Security/ICT, innovation management, an expert on setting up State/National programs for the issuance of National eID Cards, DLs, ePassports, mobile Driving Licenses/mobile IDs, Trust Centers, MedTech/Health Care in several countries. He has extensive experience in complex business development, strategies & sales, operations, interim management, and an international network that spans over 60 countries. As a turnaround and growth specialist with broad experience from innovation management and a strong visionary, being Group CEO, Founder, Owner of the Swedish Mobile Driving Licenses & Mobile IDs provider, Scytáles AB, Member of the Board and Member at the Board of Trustees of Stockholm Chamber of Commerce, Chairman of the Board of Trust1Team and the eID Forum, we believe our new board chairman will strengthen our leading position in the market by creating new partnerships in Europe. Hans Graux has accepted a position as our vice-chairman. He is an ICT lawyer at the bar of Brussels, and a founding partner in the law firm Timelex, a firm specialized in information and technology law. Since obtaining a Law degree (2002) and completing a complementary study in Informatics (2003), he has been involved professionally in ICT Law throughout his professional career. Hans Graux was a part of the legal team advising the European Union in the establishment of the eIDAS Regulation on electronic identification and trust services (including electronic signatures and timestamps), and assists multiple European governments in legal and policy matters related to this topic and to information security in general. He provides specialized legal assistance to ID and information security companies and research initiatives, both in Europe and internationally, and is an internationally recognized legal expert in electronic authentication. Stein Eitrheim as a board member, a seasoned business professional with extensive international experience as a board representative and executive director. Stein holds a Bachelor’s degree in Finance and Administration and has worked more than 20 years in the ICT business domain in companies like Telenor, Banetele, and Norconsult Telematics. He has a proven track record in change management with extensive experience in strategic planning and operational execution. Stein currently works in a senior management consulting capacity, offering advisory services to both national and international clients. Stein was the project lead of setting up Telenor in Pakistan and headed up the performance improvement program in the company’s mobile value chain in Norway. As a keen entrepreneur, Stein has initiated several start-ups and supported funding initiatives concerning new businesses. Stein is a customer-centric leader who thrives when operating in the business and technology interface, whilst exploring new opportunities and services suited for efficient digital transformation. We are also glad to announce Reinoud Weijman joining as Board Advisor to TrustSec. Reinoud is the Managing Director at A.E.T. Europe B.V. with more than 22 years of experience in the information security industry and security software solutions as user identification, authentication, and digital signatures. “We’re excited to expand our board with three new members who have great and diverse expertise in the information security field and who will be a great addition to the company. We have worked diligently to ensure TrustSec is providing state of the art technologies, we believe under the supervision of a dedicated team of information security leaders who are committed to providing vision, strength, and stability to TrustSec, we would reach higher levels of productivity and innovations”, said Founder and CEO Dr. Magdy Sharawy. About TrustSec TrustSec is founded by internationally recognized information security and cryptography experts. Launched in 2016, the company aims to fill the gap in the cybersecurity market, Securing data assets, and digital identity against unauthorized access, cyber-attacks, hacking, through its state-of-the-art and innovative products and solutions. What TrustSec offers: Through TrustSec pool of experts and its business-driven innovative solutions, TrustSec offers its uniquely, in-house developed operating system for smart cards- SLCOS, a variety of products and solutions, that cover Software protection, data encryption, OTP, and security hardware namely PKI tokens and FIDO2 tokens in addition to its unique panel of professional services; of consultation, integration, testing, and outsourcing to help the other companies benefit from the latest available advances in cryptography to improve their products and services. TrustSec 2020 TrustSec has acquired Softlock inc in 2020. This new chapter for TrusfSec and Softlock is an important step for the information security field where two companies with their strengths combined will better serve the region. Working in parallel, the R&D of Softlock with accumulative 25 years of experience, and the professional supervision of TrustSec Board steer the organization towards a successful future, the two companies will provide the best-in-class secure digital experience to the benefit of individuals, entities, and governments! Throughout the past 25 years, Softlock has been a leader in providing innovative information security solutions in the Middle East. Softlock has been focusing on research and development over the past 25 years. The company’s latest unique innovative solution was the smart card operating system SLCOS. With its strategy of innovation, Softlock is now developing smartcard solutions and applets that run on SLCOS to serve the different sectors under TrustSec Supervision.
Forget your password – use your FINGERPRINT! match on card
Forget your password – use your FINGERPRINT! match on card match on card “Mr. Francis Galton affirms that ‘the patterns of the papillary ridges upon the bulbous palmar surfaces of the terminal phalanges of the fingers and thumbs are absolutely unchangeable throughout life, and show in different individuals an infinite variety of forms and peculiarities. The chance of two finger-prints being identical is less than one in sixty-four thousand million. If, therefore, two finger-prints are compared and found to coincide exactly, it is practically certain that they are prints of the same finger of the same person; if they differ, they are made by different fingers. – Lance”[1] The evolution of the smartcard – biometrics vs. two-factor authentication ( match on card ) Biometric smartcards are multi-factor authenticators (MFA). This is achieved through the addition of an extra layer of security; a fingerprint feature to authenticate the user in addition to the common two factors of authentication used – pin and hardware. The two-factor authentication solutions might expose users to fraud in the event that cards are stolen or pins are cracked. However, unlike standard smartcards, biometric smartcards enhance security on the card due to the probability of a biological feature of a person being identical with another person is less than one in sixty-four thousand million. Biometric smartcards can be thought of as turnkey solution that combines security, flexibility, durability and easy user experience. These cards achieve such security levels thanks to their onboard microprocessors processing the data directly, without remote connections. The biometric technology used depends on the Match-on-Card (MoC) that will store the holder’s biometric data and protect such communications with encryption. Biometric smartcards demonstrate a high level of flexibility as the technology used within the card is adaptable enough to integrate with any applet, is durable enough to last for many years, and provides user-friendliness; the card’s portability makes it easy for users to carry in their wallet. Biometric smartcards are the best solution in providing ultimate security to end-users. Especially in sensitive environments that require a high level of security in logical and system access. Such examples are governmental sectors, where biometric smartcards are used as accurate digital identification solution to access security-restricted buildings or access various government applications (border control, national identification cards, voter registration, and passports). Biometric smartcards also bring a security benefit to the healthcare sector where biometrics could be used by government-affiliated healthcare entities to access a patient’s medical records and ensure fraud prevention. The biometric data never leaves the card. match on card The technology used in TrustSec biometric smartcards eliminates cyberattacks by avoiding the vulnerability of storing the biometrics data on database servers. These servers may be based on insecure networks that are vulnerable to cyberattacks that might lead to abuse of the biometric data of a person. TrustSec biometric smartcards adopt Match-on-Card technology that eliminates the need for the database by both storing and processing biometric data directly on the secure microcontroller of the smartcard. Match-on-Card technology works by comparing the fingerprint presented by the user with the stored fingerprint in the secure environment, without having to send fingerprint data to a terminal or a remote server. Match-on-Card technology is typically performed in three steps, Fingerprint capturing (Acquisition), Features Extraction (Minutiae extraction) into a template Templates Matching. The Match-on-Card feature eliminates the risk of loss or theft of the cards entirely, as there would be no risk of the biometric smartcard being used without the unique fingerprint of its holder. Privacy comes first match-on-card Biometrics are biologically unique to the individual; therefore, once compromised, the individual has no recourse and is at a heightened risk for identity theft and therefore likely to withdraw from biometric enrolment. The majority of the population fear the loss of their identity through identity theft. This, in turn, has raised regulations governing secure biometric data collection, the use of such data and the processing of said data more complex. The gap between enterprises who wish to apply biometric technology and the unease of the users concerning such technology, is solved by the use of Match-on-Card technology to save the users’ identity while applying high-security measures in the enterprise at the same time. About TrustSec smartcard OS “SLCOS” match on card TrustSec smartcard OS is developing an open Java Card operating system that manages the smartcard resources as a principal component in the security chain; it protects the personal identity of the user and provides the required security services to the end-users. The OS works in conjunction with secure controllers from Infineon Technologies. It also allows third-party vendors to build embedded applications and applets without affecting security. The beta version was released in 2016 and TrustSec smart card OS has been in continuous development throughout the last five years over multiple Infineon controllers (SLE78 and SLC52) and is now planning to port its SLCOS to Infineon’s SLC38/B. SLCOS is now compatible with Java Card™ 3.0.4 and Biometry1toN Package from Java Card™ 3.0.5 is also implemented, as well as Global Platform 2.2.1 with MoC schemes (templates stored on the card, matching is done on card). TrustSec has entered into joint agreement with the leading biometric sensors providers in the market to supply biometrically enabled security solutions for identity management, access control, and payment authentication applications. In 2019, TrustSec collaborated with NEXT Biometrics to integrate their fingerprint sensor with TrustSec’s SLCOS operating system with a certified Common Criteria PKI applet providing the first version of its contact biometric smart card. The following year TrustSec made progress in integrating both Fingerprints and IDEX biometrics fingerprint sensors with SLCOS in order to provide both biometric contact and contactless smartcards. Worry-free payments with biometric smartcards solution Biometric technology brings a whole new level of security to contactless payments. No more skimming, no more forgetting which PIN to use, no need to touch the terminal, and no more uncertain payments – only trusted contactless payments. Payment networks and issuers can expect an overall reduction in fraud rates for lost and stolen cards as the
Biometric Smartcards pitch at TRUSTECH
Throwback to eSignus speech today at TRUSTECH about Biometric smartcards. Online services were already growing exponentially in recent years, and the pandemic has accelerated their adoption by companies and users. As the value of the services provided increases, so do the risks of accessing these services and falling victim to fraud or impersonation. The estimated number of passwords used in 2021 amounts to an incredible 300 trillion. It is expected to continue increasing year after year along with the services provided online, and only in the first half of 2020, Data breaches expose 36 billion records. Biometric Smartcards security Hackers attack people worldwide roughly every half a minute. This translates to a cybercrime being committed on an average of 2,244 times per day, taking in the financial services industry the highest cost from cybercrime at an average of $18.3 million per company. Therefore, authentication and signature of users and employees in digital environments are critical to reducing these risks and enabling easy adoption and transition to digital services. Security measures typically increase the complexity of transactions for users and increase friction in critical day-to-day processes. Usability and recognizable user experiences are as important as security itself to have success in implementing security policies. For these reasons, our approach to this problem focuses on two fundamental factors: On the one hand, using truly secure hardware, where the user can perform the authentication and signature processes. We implement state-of-the-art security in terms of design and electronic components and complement this with biometrics. Biometrics are primarily used because of two significant benefits: The convenience of use: Biometrics cards are always with you and cannot be lost or forgotten. Challenging to steal or impersonate: Biometrics can’t be stolen like a password or key can. The combined protection of your physical or behavioral signatures with other authentications gives some of the strongest known security. It is significantly better than using a character-based password as a standalone verification. On the other hand, there is the hardware form factor and the user experience. We know that one of the most significant security issues is the frictionless adoption of such measures. TrustSEC and CardLab ApS collaboration with eSignus, has successfully collaborated to provide a state-of-art authentication solution that solves such a problem. That is why our solutions are based on a credit card form factor and a similar user experience so that it is not only easy to use but can be implemented without friction and high user training costs. Throughout eSignus CEO “Daniel Hernandez” speech yesterday at TRUSTECH; he delved into the design of the solutions and showed its innovative use case, which solves the security problems of cryptocurrency and cryptoassets wallets “HASHWallet” by eSignus. Contact us for the full speech info@trustsec.net
TrustSEC Partnership with CardLab & eSignus – TrustSEC
TrustSEC is very pleased to partner with eSignus and CardLab in the HASHWallet solution that deploys biometric authentication over hardware wallet. Delving into the design of the HASHhWallet solution represents an innovative use case, that solves the security problems of cryptocurrency and cryptoassets wallets. After continuous development and successful collaboration of TrustSEC and CardLab to introduce a biometric card system combining security, and flexibility thanks to the on-board microprocessors that process all biometric and non-biometric data directly on the card, without a remote matching template. The Match-on-Card (MoC) technology stores the holder’s biometric data and protect the communications with encryption, and based on this solution the two companies have played a role in leveraging the usage of biometric smart cards that are mainly developed for ID, access, and payments, to be serving the digital transformation to Hardwallets in cooperation with the leading Spanish technology startup eSignus. eSignus is a Spanish startup led by a group of senior entrepreneurs highly experienced in the financial, technology, and crypto-security sectors. “We have been very happy to work with CardLab and eSignus on an innovative hardware wallet in the shape of a convenient Smart Card to safeguard crypto-assets, I would also like to pay tribute to Fingerprints in Sweden and Infineon Technologies in Germany, for their contributions and positive collaboration. We are looking forward to more collaborations that will shape the future of financial services digital transformation” says TrustSEC CEO, Magdy Sharawy
TrustSEC is pleased to announce the release of its new advanced smartcard OS – “BIO-SLCOS” over Infineon secure Element SLC38 – TrustSEC
TrustSEC and IDEX Biometrics partner to meet increasing demand for digital authentication with Biometric Smart Cards Szczecin, Poland – 24 October 2022 – IDEX Biometrics ASA and TrustSEC, a leading European provider of digital authentication solutions for access control and crypto wallets are bringing biometric smart card solutions to market in response to the demand for more secure and seamless digital authentication. The partnership agreement combines the TrustSEC smart card module, including card operating system and applets, with the IDEX Biometrics TrustedBio fingerprint sensor solution. The biometric smart card solution will secure access to digital- and crypto currency hashwallets, as well as managing physical and logical access for corporations, schools and governments, and is targeted to reach the market in Q1 2023. With this collaboration, the companies will mutually benefit from IDEX Biometrics industry leading TrustedBio sensor and TrustSEC’s experience in smartcard development and their significant customer base within the cyber security market. The digital identity verification market is set to rise to $16.7 billion in 20261, providing an important opportunity for secure solutions for crypto hardware wallets, digital identification and card-based access applications. Magdy Sharawy, CEO of TrustSEC says: ‘TrustSEC’s strategy was to bring to market a complete security solution for identity management, access control, and crypto wallets, with fingerprint authentication. Our collaboration with IDEX Biometrics is bringing to market a highly secure, industry leading authentication solution integrating the new IDEX biometric sensor with TrustSEC’s Smartcard OS “SLCOS” running on Infineon’s latest generation Secure Element chip, the SLC38. We are very confident of the success ahead and excited about this partnership.’ ’Combining the high-performance biometric architecture of TrustedBio with the complete security software solution from TrustSEC will provide an agile authentication and information protection framework suitable for a variety of market needs and applications. This collaboration will allow us to meet the increasing global demand for biometric smart cards, continues Vince Graziani, CEO of IDEX Biometrics.’ 1 Juniper Research, 2022 About TrustSEC TrustSEC is a leading company in the information security field, founded by internationally recognized information security and cryptography experts. TrustSEC focuses on developing innovative highly secure software solutions that serve the digital transformation of governmental services, and fintech, applying the latest technology trends of authentication. TrustSEC offers a wide pool of secure turn-key hardware and software solutions based on its uniquely, in-house developed operating system for smart cards- SLCOS; namely Biometric smartcard with a variety of in-house developed applets running over it; Biometric FIDO2 applet, Biometric PKI applet, CPA / CPACE Common payment application Contactless Extension and other customized applets. For more information, visit www.trustsec.net About IDEX Biometrics IDEX Biometrics ASA (OSE: IDEX and Nasdaq: IDBA) is a leading provider of fingerprint identification technologies offering simple, secure, and personal authentication for all. We help people make payments, prove their identity, gain access to information or unlock devices with the touch of a finger. We invent, engineer, and commercialize these secure, yet incredibly user-friendly solutions. Our total addressable market represents a fast growing multi-billion-unit opportunity. For more information, visit www.idexbiometrics.com
Infineon’s latest SLC38 security device and TrustSEC’s operating system BIO-SLCOS provide secured
Infineon’s latest SLC38 security device and TrustSEC’s operating system BIO-SLCOS provide secured, open platform for advanced smart card applications Munich, Germany – 17 February, 2023 – In cooperation with Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY), TrustSEC, a leader in information security and smart cards, has launched its new advanced smart cards operating system (OS) BIO-SLCOS. The OS uses Infineon’s latest high-performance SLC38 Secure Element to provide a secured and open platform that combines the best in security, flexibility, and hardware independence to meet the comfort, performance and security requirements of the global smart card market. The solution is ideally suited for government identification, payment, ticketing and access applications, as well as for application providers looking to enhance their biometric solution in terms of security, performance and functionality. While demand for organic smart cards in crypto wallets is currently high, a study by ABI Research[1] expects, in an optimistic scenario, that up to 140 million biometric payment sensor cards to be issued in 2025 fulfilling consumer demand for more convenient and secured biometric authentication in personal payment transactions. In daily life, biometric card holders verify their identity simply by placing a finger on the card’s sensor and tapping the card at the terminal. TrustSEC is prepared to meet the growing demand for biometric smart cards, especially in the payments sector. “We are committed to improve our operating system continuously by porting it to the most powerful and promising chips from our partner Infineon. This allows us to offer our customers turnkey, market-leading solutions,” said Magdy Sharawy, CEO of TrustSEC. “Our broad and rapidly growing portfolio demonstrates Infineon’s leading role in shaping the market for secure elements and smart cards,” said Franck Ferrandino, Senior Marketing Director, Connected Secure Systems at Infineon “Collaborating with partners, and TrustSEC in particular, has become essential to meet the new white label requirements for operating systems driven by issuers and service providers who prefer standardized payment applications based on alternative, modern smart card operating systems. This is why Infineon has selected TrustSEC’s BIO-SLCOS for the latest chipsets.” BIO-SLCOS is a smart card operating system that represents the latest technology for smart cards. It combines security, flexibility, and hardware independence on one platform. The new BIO-SLCOS enables application providers to utilize the latest evolution of Infineon’s SLC family of secure elements by using BIO-SLCOS with the capability to add another security layer for fingerprint authentication. As a result, biometric authentication can be performed entirely within Infineon’s newly approved SLC38 Secure Element. The OS solution is based on Infineon’s SLC38 hardware and provides data integrity which is built on sophisticated security features tested by independent labs. In addition to managing file systems and I/O, the operating system also interacts with various applications. All products in the SLC family are rated with the highest security certification CC EAL 6+. In addition to supporting contact, contactless, dual and USB interfaces, BIO-SLCOS can be preloaded or programmed with fixed applications or enable application uploading after using the card manager module. Smart cards with BIO-SLCOS can also be used to run multiple applications simultaneously. Furthermore, the solution can activate the card based on the bio information provided or occasionally authenticate transactions while the card is active. About Infineon Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 56,200 employees worldwide and generated revenue of about €14.2 billion in the 2022 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY). Further information is available at http://www.infineon.com About TrustSEC TrustSEC is a leading company in the information security field, founded by internationally recognized information security and cryptography experts. Using the latest technology in cryptography and biometric technology, TrustSEC develops innovative highly secure solutions for securing identities throughout the digital transformation journey of enterprises and governments (healthcare, utilities, transportation, banking, etc.) With its uniquely developed biometric operating system for smart cards, BIO-SLCOS, TrustSEC offers a wide range of secure hardware and software solutions for authentication, identification, and payment as FIDO2 and PKI applets for authentication and CPACE / CPA common payment applications for payment, as well as other customized applications. Further information is available at www.trustsec.net. The TrustSEC team is showcasing their latest authentication, payment and crypto assets with BIO-SLCOS during Identity Week Europe, June 13-14, 2023, in Amsterdam/Netherlands. More information about the SLC38 Secure Element is available at Payments-in-Motion. More information about BIO-SLCOS is available at TrustSEC innovative Solutions. [1] Source: ABI Research – Biometric Payment Card Developments, Projects and Market Opportunities (Q2-2022)