Everspin, a Korean AI-driven cybersecurity company led by CEO Ha Yeong Bin, has solidified its presence in Indonesia by implementing its cutting-edge solutions, Eversafe Mobile and Fake Finder, at major financial institutions BNI Securities and North Sumatra Regional Development Bank (Sumut). This marks another milestone in the company’s strategy to dominate the Southeast Asian market.

Indonesia, lacking domestic cybersecurity providers, has traditionally relied on solutions from global companies in the U.S. and Europe. While many Korean firms have attempted to penetrate this market by offering cost-effective options, Indonesian financial institutions prioritize technical excellence over price. Everspin has distinguished itself by focusing on innovative technology rather than cost advantages, proving its competitive edge against established global players.

Everspin first gained traction in 2022 when its solutions were adopted by Jago Bank, Southeast Asia’s largest internet bank with 30 million users. This win demonstrated the company's ability to outperform leading global cybersecurity providers in head-to-head technical evaluations. Following this success, Everspin’s solutions have been integrated into Indonesia’s top-tier financial institutions, including Mandiri Bank and Jakarta's DKI Bank.

The adoption of Eversafe Mobile and Fake Finder by BNI Securities and Sumut Bank further underscores the company’s value proposition. These institutions have already reported significant cybersecurity improvements. Sumut Bank alone detected and prevented 213 cyberattacks in a single day, December 5, while the two institutions combined thwarted an average of 159 cyber threats daily after implementing Everspin's solutions.

Eversafe Mobile employs Moving Target Defense (MTD) technology, which dynamically generates infinite security codes, rendering static security codes obsolete. This real-time security code rotation neutralizes hacking attempts, setting a new standard in cybersecurity. MTD, long advocated by the U.S. government as a theoretical solution, was first commercialized by Everspin and is now patented in 11 countries, including the U.S., Japan, and Europe.

Similarly, Fake Finder leverages proprietary AI-driven whitelist technology to preemptively identify malicious apps. Unlike traditional blacklist systems that respond to known threats, this innovative solution compares app data against a global database to detect and block previously unknown threats. Its effectiveness has been validated by its adoption by major Korean financial institutions, including KB Kookmin Bank, KakaoBank, and Samsung Card, where it currently holds the highest market share in Korea.

Indonesia’s rapid growth in mobile banking, driven by its population nearing 300 million, has created a surge in digital financial transactions and, consequently, cybercrime. Everspin’s ability to secure major partnerships in this market positions the company as a key player in Southeast Asia’s burgeoning digital finance sector. These successes are expected to pave the way for further expansion across the region.

With proven technology and a clear focus on quality, Everspin continues to set benchmarks in cybersecurity, ensuring both financial institutions and their customers remain protected in an increasingly digital world.

Sayart / Jack Lee, wangjb77@gmail.com