TM One Securing Trust in Digital Transactions via Blockchain Technology for Indonesian Market

15 February 2021

TM One, the enterprise and public sector business solutions arm of Telekom Malaysia Berhad (TM), together with PT VADS Indonesia, a wholly subsidiary company of TM One, recently inked a business agreement with FNS Value Co., Limited (FNSV) from Korea, to appoint PT VADS as the sole distributor of Blockchain Secure Authentication (BSA) solution for the Indonesian market.

The signing ceremony was conducted virtually and the documents were signed using TM One Digital Signature Solution (TMODS). It is a certified online signing platform, compliant to Malaysian Communications and Multimedia Commission (MCMC) Digital Signature Act 1997, making the document legally-binding and recognised by Malaysian court of law.

Signing on behalf TM One was Ahmad Taufek Omar, Executive Vice President and Chief Executive Officer of TM One and PT VADS was represented by Saravanan Belusami, Chief Executive Officer of PT VADS while FNSV was represented by JEON Seung Ju, its Chief Executive Officer.

Commenting on the partnership, Ahmad Taufek said, “This is a significant partnership for our subsidiary PT VADS as we further make our stamp in providing advanced managed security services to our customers in Indonesia. We believe that BSA solution is the answer to security issues of digital transactions. This is very essential as almost all transactions are done digitally in the current business environment and users are looking for more secured and advanced login method. By using BSA, consumers will no longer have to remember their passwords to perform transactions on any devices. It also solves other cybersecurity concerns such as credential attack and hijack. Currently, biometrics in most mobile apps only allow users to perform simple functions such as checking their account balance but not for transaction approval. This will definitely pave the way for more digital lifestyle and businesses.”

“With this agreement in place, we look forward to deliver more secured solutions not only to our customers in the Malaysian and Indonesian markets, but to other ASEAN markets as well. TM One will continue to innovate our solution offerings to facilitate our customers’ digital needs in their digital transformation journey. This fits well into TM Group’s role as the enabler of Digital Malaysia’s aspirations,” he added.

Meanwhile, Mr. JEON Seung Ju, noted that, “We are excited to be working with TM One and PT VADS to bring the future of blockchain-based passwordless authentication to Indonesia.”

As one of the most disruptive technologies across industries, BSA is a passwordless authentication solution powered by blockchain verification technology that is impossible to penetrate. This will benefit all businesses and industries that require strong and trusted authentication services for web, mobile login and secure access for online-based transactions, especially for Internet of Things (IoT) and Smart Services. Registration of new students for private schools or universities, applying for bank loans and money withdrawal from government agencies, amongst others, are made easier and secured with BSA solutions.

Through this agreement, TM One, PT VADS, and FNSV will work together in providing BSA solutions, to increase security, reduce operational cost and improve customer experience, for the Indonesian and Malaysian markets.

TM One was appointed as the sole distributor of FNSV’s BSA products and solutions for Malaysia and as the strategic partner for ASEAN region last year. FNSV offers the world’s first patented solution based on blockchain technology that does not require a password for authentication, simple to use, extremely secure and almost impenetrable solution that represents the next step in securing online businesses.

For more information about TM One’s BSA solutions, visit www.tmone.com.my

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