Layers // July 2024
Hi, it’s Ivan here - the CEO of Licel.? ?
Do you know why we call our newsletter Layers??
Well, while discussing a suitable name a few years ago, we realised that no two words were uttered more in the Licel offices than integrity and layers.
And there's a good reason for that.
Since 2011 we’ve been working to add layer upon layer of best-in-class mobile channel protection to guarantee and maintain integrity. You see, for us integrity is the cornerstone of application protection. We don’t believe security exists without it.?
Mobile channel threats have evolved massively over the past few years and have shifted in nature from static to dynamic. So, we’ve refined and enhanced our protective layers to make sure we stay one step ahead of bad actors. ?
With that in mind, we’ve just launched our most sophisticated security layer yet, which I want to tell you about in this edition of the newsletter. It's called the Licel virtual trusted execution environment (or vTEE), and we see it as a way of future-proofing integrity for modern payment industries and a number of other sectors.?
Why the vTEE is our most important protection layer yet
At its core, the Licel vTEE exists to provide a secure execution environment where trusted applications can perform sensitive mobile transactions and operations.?
The vTEE prevents attackers from committing mobile fraud and from stealing ultra-sensitive data such as payment credentials, tokenised cards, and protected health information (PHI).? ?
The vTEE’s isolated execution environment provides a safe space for trusted applets to operate in. But on top of providing a secure storage space for sensitive keys, the vTEE has a software-based cryptographic module (SBCM) and a dynamic virtual machine that leverages DexProtector’s robust security mechanisms.
That means the vTEE can protect both trusted apps and itself with a combination of? white-box cryptography, device binding, RASP, integrity control, obfuscation, and encryption, among other measures.
Find out more about the Licel vTEE ??
Who is the Licel vTEE for?
We see the Licel vTEE as an innovation accelerator for modern payment solutions like mobile wallets and SoftPOS.?
Both of these solutions process sensitive payment transactions such as PIN entry and store payment credentials. The vTEE makes sure that these operations take place in an isolated and secure environment that cannot be tampered with or exploited by attackers.
In other words, it helps to maintain integrity. And this matters a great deal because integrity is absolutely essential if mobile wallets and SoftPOS are to continue their current trajectory.
The Licel vTEE was recently evaluated and approved by EMVCo under the SBMP TEE category. Part of our motivation for achieving this evaluation certificate was that it can help developers of both payment solutions to speed up their own bid for certification and approval.?
Speaking of speed, the vTEE is more nimble than legacy hardware TEEs, which can take a long time to be fixed and updated. This digital reinforcement can save time, revenues, and reputations.
You can find out more about these two specific use cases via the links below.
SoftPOS use case:
Mobile Wallet use case:
Keep an eye on the Layers newsletter in the coming months for more updates about the vTEE. And feel free to comment or get in touch with us if you have any questions about it.