Andrew Hoyle / CNET
The mobile banking revolution may be underway, but mobile banking applications still inspire a lot of mistrust among users.
Hoping to change this Sikur, the manufacturer of, has launched its own mobile banking platform that Tuesday during MWC in Barcelona.
The platform is designed to combine all the conveniences of using digital banking apps with first-class security features. Sikur's goal is to use its security expertise to protect users from payment app vulnerabilities and data thefts at payment terminals that have affected companies like Ticketmaster and British Airways.
In 2018, Juniper Research analysts projected that some 2 billion people, or 40 percent of the world's population, would use mobile banking services by the end of the year. This number includes people who use digital tools from their banks, and also those who are adopting new banking tools and systems.
"People are moving away from traditional banking towards these kinds of platforms, so that you can easily open an account and carry out all these transactions that you would do in a traditional bank," said Alexandre Vasconcelos, executive president of Sikur.
Sikur had focused only on its own devices, to control both hardware and software and thus provide an airtight experience for its customers. But in September 2018, Sikur demonstrated that it could also equip other phones with the same levels of security when it integrated its SikurOS into two Sony phones.
The company expects its Sikur Bank platform to reach users through its partnerships with telephone operators.
In association with LogBank, the Brazilian company has created an end-to-end platform that conforms to regulations in the finance industry. Sikur launch a software development kit that will allow operators to develop their own banking apps based on their security technology. The company is in negotiations with telephone companies in Brazil.
The company also wants to bring its security experience to the Sikur App Store. Most Android phone owners download their apps through Google Play, and there have been many instances of problems with developers bringing their Android apps to market with security flaws or embedded malicious code.
"We are creating our own store where we perform all the security checks on the apps just before publishing them," said Vasconcelos.
With the collaboration of Suan Pineda.