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TCG and Mobey Forum to partner on mobile FS security standards

The bank-led Mobey Forum is now participating in the Trusted Computing Group (TCG) Industry Liaison Programme as the two associations seek to cooperate in the development of effective security standards in the mobile financial services arena.

The partnership will enable Mobey Forum, which has a core membership of banks, and the TCG, which counts information and communications technology (ICT) firms among its members, to cooperate and share their respective members' security requirements. This combined knowledge will be used to enhance TCG's attempt to develop standards in mobile financial services.

"The current security standards for mobile devices lack the perspective of financial institutions, and their specific needs for mobile payments and mobile banking," said Ron van Wezel, chairman of the board at Mobey Forum and director of emerging payment streams at Deutsche Bank. "The TCG is doing great work toward defining security standards in mobile financial services. The input and participation of Mobey Forum in the TCG will provide valuable contribution from the financial and banking sector in support of this work.

“Additionally, it will deliver educational value for Mobey Forum members and enable direct communication between the financial sector and device manufacturers. Aligning their interests with the industry's efforts to create technical standards will help to accelerate deployment and encourage state-of-the-art security implementations."

By Neil Ainger