Lockin Company, Full-scale Orders for Financial Sector Mobile App Security Solutions
2015.12.02
Mobile security specialist Lockin Company (CEO Myoung Kyu Choi, www.lockincomp.com) announced on the 2nd that it is receiving a noticeable increase in orders from financial institutions such as banks, securities firms, and insurance companies. This year, Lockin Company completed the application of mobile app protection solution products to 14 financial clients including Hana Capital and KB Investment & Securities. In the future, it plans to provide the best response service for current clients while strengthening marketing to create new financial clients and developing solutions specialized for the financial sector to enhance product competitiveness.
The increase in financial sector clients is interpreted as a result of the recent increase in demand for online financial services, which necessitates the urgent need to prepare countermeasures for security threats. In addition, as the fintech market has expanded widely, including the first domestic internet bank approval and mobile easy payment, the possibility of hacking and information leaks in mobile apps is also increasing. Due to the increase in security threats to financial sector mobile apps, Lockin Company has recorded rapid sales growth this year by supplying products to various clients. Lockin Company is currently targeting the financial sector with its flagship product, the mobile app protection solution ‘LIAPP (LOCKIN APP PROTECTOR)’. ‘LIAPP’, which celebrated its first anniversary last month, encrypts the entire source code, making it easy and fast while realizing the best security features. Lockin Company is focusing on R&D to actively respond to financial sector demand and is preparing a security solution exclusively for financial sector apps. Unlike other financial sector PC security solutions that require complex security tools such as vaccines and PKI, it plans to present a one-stop total solution that blocks hacking at the source by simply applying LIAPP.
Along with strengthening product competitiveness, active marketing activities are also being carried out to inform the necessity of the product. The Electronic Financial Transactions Act of the Financial Supervisory Commission requires terminal security measures for mobile transactions, and financial institutions are also responsible for hacking incidents using programs analyzed and modified through illegal means. Lockin Company plans to inform financial security managers of these facts through various channels such as conferences and DMs and provide the best security solution that complies with compliance.
Choi Myoung Kyu, CEO of Lockin Company, said, “As financial transactions using mobile devices increase, the need for enhanced compliance and security threats in the fintech environment are being pointed out as issues, which is accelerating the development of the financial mobile app security market,” and added, “We will introduce products that are suitable for market trends and actively conduct marketing to take the lead in the financial app security market, which is a new sales opportunity.”
Meanwhile, in November of last year, Lockin Company succeeded in attracting the first domestic startup direct investment from the Industrial Bank of Korea, a state-run bank, just two years after its establishment, and was recognized for its credibility and product stability. Afterwards, in order to grow into a leading domestic mobile security company, the company moved its office to Pangyo, where many IT companies are located, and strengthened its marketing, R&D, and sales personnel to fully prepare for taking the lead in the domestic market.
