ARM has announced a new joint venture with security firms Gemalto and Geisecke & Devrient designed to improve mobile banking security.
The firms will develop a new standard around ARM's Trusted Execution Environment (TEE), helping improve security on computer applications such as secure payments, digital rights management (DRM) and enterprise and web-based services.
According to ARM, as well as helping to bolster security on mobile devices such as tablets and smartphones, the new standardised security platform will also help improve smart TV's defences.
"I am confident this new joint venture will accelerate the adoption of a common security standard, enabling a vibrant ecosystem of secure service providers to emerge," said ARM chief executive, Warren East.
"This will be of significant step in terms of improved consumer trust in secure transactions on connected devices."
The project builds on the company's existing TrustZone technology.
Launched in 2004 the technology is built into its Cortex-A processors, and it makes the components store sensitive information and systems separately from other, less important, data.
The joint venture will be predominantly owned by ARM, which holds 40 per cent share, with Gemalto and Geisecke & Devrient each taking a 30 per cent stake.
The news comes after a PriceWaterhouseCoopers' (PwC) research paper that highlighted the financial sector as being particularly vulnerable to cyber criminals.
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