Airome Announces Strategic Partnership with Singapore-based cybersecurity firm Group‑IB

The combined go-to-market solution will include e-signature technology from Airome aided by the intelligence-driven Secure Bank solution from Group-IB

Airome Technologies, a developer of cybersecurity solutions for digital banking and e-document management systems, has announced a strategic partnership with Group-IB. The go-to-market solution combines anti-fraud systems, scoring and e-signature into remote banking services (RBS).

Group-IB, a Singapore-based cybersecurity company that specializes in preventing cyberattacks, is one of the global leaders in providing high‑fidelity Threat Hunting & Intelligence, best‑in‑class anti‑fraud solutions and high-profile cyber investigations.

With disruptive shifts taking place in the traditional financial services and fintech space in Singapore, the solution will help banking and financial institutions pro-actively combat cyber-fraud. While Singapore has a well-established traditional payments ecosystem, mobile payments continue to grow. The Government has been making concerted efforts to promote this ecosystem as well. An example of this is how NETS, the payments services provider in the country, has rolled out electronic payment terminals at hawker centres and coffee shops, allowing customers to pay using different payment options. The payment services system in Singapore has a well-calibrated regulatory framework.

With increase in digital payments, there is always the inherent risk of cyberattacks; from data breaches and fraud to credential stuffing. Credential stuffing is an automated injection of breached username and password pairs in order to fraudulently gain access to user accounts. The Singapore Government is once again taking the lead in combating these challenges. In August this year, the Monetary Authority of Singapore (MAS) announced mandatory rules for all financial services and e-payment firms to follow. These include strong passwords, firewalls to prevent unauthorised network access and multi-factor authentication.

Identity theft and unauthorised access to bank accounts is a big area of concern in the Southeast Asia region. Add to this, many companies are still seemingly unaware of the full consequences of data breaches and leaks of credential stuffing. These issues provide an ideal platform for social engineering attacks.While developing PayConfirm, our aim was to ensure that maximum level of security is achieved to perform any operation across digital banking channels without affecting the mobility or ease of use for a bank’s users. Our integration with Group-IB’s Secure Bank helps achieve an uncompromising combination of these measures. This adaptive authentication helps to minimise a wide range of risks when it comes to any type of operations and make the lives of bank’s users simpler. We believe that our partnership with Group-IB is timely and relevant to not just Singapore but the broader Southeast Asia region.

Denis Kalemberg
Denis Kalemberg

CEO of Airome Technologies

Secure Bank leverages Group-IB’s experience in threat intelligence, signature, behavioral and cross-channel analytics to detect threats invisible to traditional transactional anti-fraud-systems. The product contains full stack of anti-fraud technologies, which protect banks and its customers across all layers and identify fraud at a preparation stage. Complementing other anti-fraud systems, Secure Bank can block malicious bots in real time, detect attacker’s logins, social engineering, botnets, money laundering, victim compromise or infection of an end user device. Secure Bank can also protect users in the mobile channel (smartphones, tablets, and other iOS and Android-based devices). The product’s unique adaptive logic is able to correlate data on users behaviour on their devices as they interact with their bank through various channels and on behavior across different banks to prevent cross-banking fraud. Machine learning algorithms, advanced device fingerprinting, and user behavior analytics allow the system to detect unusual or suspicious actions committed by a criminal impersonating a real user.

We are excited to partner with Airome Technologies to drive a change in the cyberhygiene and proactive threat intelligence landscape in the region. Our Secure Bank solution helps detect threats that are invisible to traditional transactional anti-fraud systems: user device scoring is carried out in real time across web and mobile channels. Imagine a transaction which is initiated on a mobile device through a remote control application, then such a digital signature for such transaction will not be issued since these actions have signs of a socio-technical attack. It is an easy and convenient way for the banks to protect their clients.

Ilya Sachkov
Ilya Sachkov

CEO and Founder of Group-IB, Singapore-based Cybersecurity Company

The combination of Secure Bank and PayConfirm provide banks’ clients a secure and seamless platform to perform transactions via digital channels. The bank’s users only need to enter the password, or use the TOUCH/FACE-ID interface, or e-signature to perform any operation such as authorise transactions or e-sign documents.

About Group-IB

Group-IB, with its headquarters in Singapore, is one of the leading providers of solutions dedicated to detecting and preventing cyberattacks, identifying online fraud, investigating high-tech crimes, and protecting intellectual property. The company’s Threat Intelligence and Research Centers are located in the Middle East (Dubai), the Asia-Pacific (Singapore), and Europe (Amsterdam).

Group-IB’s Unified Risk Platform is an ecosystem of solutions that understands each organization’s threat profile and tailors defenses against them in real-time from a single interface. The Unified Risk Platform provides complete coverage of the cyber response chain. Group-IB’s products and services consolidated in Group-IB’s Unified Risk Platform include Group-IB’s Threat IntelligenceManaged XDRDigital Risk ProtectionFraud ProtectionAttack Surface ManagementBusiness Email ProtectionAudit & ConsultingEducation & TrainingDigital Forensics & Incident ResponseManaged Detection & Response, and Cyber Investigations.

Group-IB’s technological leadership and R&D capabilities are built on the company’s 19 years of hands-on experience in cybercrime investigations worldwide and more than 70,000 hours of cybersecurity incident response accumulated in our leading DFIR Laboratory, High-Tech Crime Investigations Department, and round-the-clock CERT-GIB.

Group-IB is an active partner in global investigations led by international law enforcement organizations such as Europol and INTERPOL. Group-IB is also a member of the Europol European Cybercrime Centre’s (EC3) Advisory Group on Internet Security, which was created to foster closer cooperation between Europol and its leading non-law enforcement partners.

Group-IB’s experience in threat hunting and cyber intelligence has been fused into an ecosystem of highly sophisticated software and hardware solutions designed to monitor, identify, and prevent cyberattacks. Group-IB’s mission is to protect its clients in cyberspace every day by creating and leveraging innovative solutions and services.

Group-IB’s experience in threat hunting and cyber intelligence has been fused into an ecosystem of highly sophisticated software and hardware solutions designed to monitor, identify, and prevent cyberattacks. Group-IB’s mission is to fight high-tech crime while protecting our clients in cyberspace and helping them achieve their goals. To do so, we analyze cyber threats, develop our infrastructure to monitor them, respond to incidents, investigate complex high-tech crimes, and design unique technologies, solutions, and services to counteract adversaries.