#London #United Kingdom #EMVCo #Mobile Security #Licel vTEE

Licel vTEE Celebrates Continued EMVCo SBMP TEE Evaluation and Approval

In a significant development for mobile security, Licel has announced that its cutting-edge virtual Trusted Execution Environment (vTEE) has received re-evaluation and approval from EMVCo for the Secure Boot Mechanism Phase (SBMP) Trusted Execution Environment (TEE) category, specifically for the Android platform. This recognition marks the second consecutive year that Licel's vTEE has achieved this esteemed status, solidifying its role as a leader in the mobile security landscape.

Why This Matters

The Licel vTEE is the only SBMP TEE solution that has been evaluated and approved by EMVCo, a key global technical body responsible for the interoperability of smart payment transactions. With the rise of mobile wallets and SoftPOS solutions, the Licel vTEE offers an invaluable layer of security, addressing the industry’s demand for robust fraud prevention mechanisms in an increasingly digital economy.

Transforming Mobile Transactions

Since its inception, the Licel vTEE has garnered widespread adoption across multiple sectors. It is particularly impactful in facilitating secure mobile transactions for innovative companies involved in mobile wallet technologies and SoftPOS systems. Its platform-agnostic approach allows organizations to safeguard sensitive transactions without the constraints of hardware-specific limitations.

Co-founder and CEO of Licel, Ivan Kinash, articulated the advantages of having the vTEE externally evaluated, stating, “One of the main reasons we have the Licel vTEE assessed by external authorities is the simplification it brings to our clients' certification processes. Developers in the wallet and SoftPOS space struggle with the rigorous EMVCo SBMP TEE evaluation, so utilizing a solution that has already been approved results in significant savings in both time and costs.”

Built for the Future

The advanced cryptographic techniques and dynamic protection features of the Licel vTEE make it an excellent fit for next-generation mobile payments. It provides essential capabilities for maintaining the integrity of transactions conducted through mobile wallets and offers robust support to banks and card schemes.

Licel's focus on enhancing its software has led to the rollout of version 1.2 of the vTEE. Partnering with Applus+ Laboratories, known for its expertise in testing, inspection, and certification, the latest version meets the highest standards set forth by EMVCo for TEE security. “It’s exciting to see the Licel vTEE evolve and enhance security for business-critical applications in mobile payments,” commented Jose Ruiz, Cybersecurity BU Director at Applus+ Laboratories. “We take pride in our detailed evaluation process that has helped Licel achieve this recognition.”

Company Overview

Licel is known for its innovative protection measures spanning anti-malware solutions, device intelligence, and advanced mobile API security. It safeguards over 310 million mobile banking users across more than 12 billion instances of protected applications. The company’s commitment to excellence in technological innovations sets it apart in the realm of mobile banking and digital payment solutions.

Conclusion

The re-approval of the Licel vTEE by EMVCo not only reinforces the solution’s credibility but also highlights Licel’s dedication to pioneering secure solutions in the mobile financial ecosystem. As mobile transactions continue to rise, the necessity for trusted environments remains paramount, and Licel is poised to lead the charge into this evolving landscape.