Jul 02, 2015

KOBIL specialized in the field of digital identity has signed two years project agreement with Kuveyt Turk who develops new technologies in banking industry. Within the framework of the deal, KOBIL will transfer its experience in financial technology. The application to be developed by the cooperation will use digital identity and transaction security on mobile devices and will be supported with cloud based security infrastructure. The application can be integrated with different financial transactions and processes ranging from the internet, ATM, and mobile banking to payment and fraud detection systems.

KOBIL Turkey Country Manager Umit Yasar said that Technology and Innovation Funding Programs Directorate, TEYDEB, which is within the structure of Scientific and Technological Research Council of Turkey (TUBİTAK) financed one million euro for the “Secure Transaction Signer” project and the rest of the budget was financed with R&D investment support by the participant companies.

“We are glad to work with Kuveyt Turk as it is differentiating itself in the sector with its modern banking services. Bogazici University provided consultancy for network security and filtering and Sabanci University offered consulting about end to end encryption and secure message protocols. Both universities are our strong partners and conduct research and development activities. At the end of this project, which is supported by expertise of Turkey’s leading institutions, we will develop an exemplary system for the world and Turkey in terms of the digital identity authentication technologies and will establish further secure payment infrastructures.” said Mr. Usta.