Kaspersky Lab has joined forces with Swiss security company, WISeKey, to develop technology to integrate authentication and data encryption into new wearable devices.
Kaspersky said the joint effort will allow these Internet of Things (IoT) devices to safely connect, communicate and exchange financial data.
The vendor said many connected devices and the data they exchange are not protected from cyber security threats and this will become even more serious as more are used to make payments.
Kaspersky Lab chairman and chief executive, Eugene Kaspersky, said we live in a truly connected world, but as the number of connected devices continues to grow, so does the number of threats.
“Unfortunately there are millions of devices in active use today that were never designed to be secure, but security should be built-in from the very outset. There’s an urgent need to establish and implement higher levels of security for IoT devices, and we’re happy to work with WISeKey in the development of such a solution,” he added.
WISeKey’s security software, WIS.WATCH, is currently used by premium watch manufacturers like Bulgari. Under the new partnership, Kaspersky Lab’s secure software development kit for mobile devices will be included in this solution.
WISeKey chief executive, Carlos Moreira, described the cooperation between WISeKey and Kaspersky Lab as a breakthrough in IoT cyber-security.
“The combination of trust and convenience that will be delivered to wearable devices opens the door to implementations in other sectors, where the same approach can support a variety of other IoT applications,” he said.