Frank von Seth, CEO of cyan, explains why the company’s partnership with Thailand’s leading mobile network operator is important for their Asian ambitions.
Creating Peace of Mind
Smartphones have become an integral part of not only our daily lives but also our identities, defining the way we communicate, store valuable data, and receive information. It is therefore vitally important that our devices are secure and protected from cyber threats such as malware and phishing.
One of Europe’s leading cybersecurity providers, cyan Security, is at the forefront of safeguarding mobile devices and their users from digital threats. Since launching in 2006, cyan has built an enviable reputation for giving its customers competitively priced peace of mind online.
The company achieved a new milestone recently when it secured a partnership with one of the fastest growing mobile network operators (MNOs) in Thailand. Under the partnership, the MNO and cyan, along with cyan’s representative in Thailand, Dr. Reckendorfer & Partners (DR&P), will work together to provide cutting-edge cybersecurity solutions to the Thai MNO’s customer base.
According to cyan’s CEO Frank von Seth, this MNO is the perfect partner for cyan because it has a strong focus on providing innovative products to a young, successful, urban demographic in Thailand. “As a technology leader in cybersecurity, this is a fantastic opportunity for us to launch in the Thai market with a successful operator that cares about the security of its users,” von Seth says.
Thailand Digital Market Focus
As a fast-growing digital hub, Thailand is one of the most tech-savvy markets in Asia, with a smartphone penetration rate of over 73% and a flourishing market for high-end mobile devices, with more than 16.5 million smartphones sold in 2020. It also ranks high in terms of social media usage and the volume of digital transactions processed each day.
Currently, Asia is the smallest revenue contributor to the group, reveals von Seth, but this is expected to change over the next five years. “Asia is a very significant market for us with immense growth potential. The region is expected to contribute about 40% of the group’s revenue in five years, followed by the US [35-40%] and Europe [20-25%],” he says.
“Modern Asians are tech-savvy and understand the need for cutting-edge security solutions that they can trust and rely upon. A protective ‘digital armor’ from Europe is exactly what they’d choose,” he says, adding that the latest Thai MNO partnership is an opportunity for the company to strengthen its presence in Thailand, and therefore in the Asia market.
“Together with our partner for the ASEAN region, Dr. Reckendorfer & Partners, we closely monitor the landscape and have established ongoing contacts in the region. In fact, we already have a few deals in the pipeline,” says von Seth.
A Mass Market Solution
As von Seth explains, cyan began targeting mobile carriers a few years ago, a strategy that enables the company to penetrate a huge addressable market. Mobile carriers from around the world that have already partnered with cyan to protect millions of mobile users from cyberthreats include Deutsche Telekom, Orange, and Claro Chile, a member of the América Móvil Group.
Cybersecurity solutions tend to be large and complex, says von Seth, but cyan has designed its offering in a way that allows mobile carriers to easily deploy the service and protect their customers seamlessly.
One of the key reasons cyan wins the trust of telecom companies is the simplicity of its solutions. With the Thai MNO for example, the cyan security solution will be integrated into the MNO’s existing app, which customers already have on their smartphones. The users therefore don’t need to download any additional applications, and can easily activate the security system in just a few clicks. “Our mission is to simplify complex cybersecurity solutions and make state-of-the-art technology available for the mass market at an affordable price,” says von Seth.
The cybersecurity partnership between cyan and telecom companies usually comes in two stages. The first stage sees cyan providing customers with protection from online threats whenever they are on the carrier’s network. The second stage involves providing protection to customers’ devices— even when they are not on the carrier’s network—at an affordable subscription fee that is shared between cyan and the carrier.
“We believe in the market potential in ASEAN and are ready to invest further. It’s a win-win-win situation based on a profit-share model,” says von Seth.
“With offices in Singapore, Hong Kong, Thailand, Vietnam, Taiwan, and other ASEAN regions, we provide industry insights and local market support, 24/7,” adds Wolfgang Reckendorfer, Chairman of Dr. Reckendorfer & Partners.
Expanding Beyond Telcos
As part of cyan’s growth strategy, von Seth knows that it cannot be solely reliant on one industry or sector. It needs to have a more diverse pool of partners and customers.
Therefore, besides geographical expansion, cyan is looking at other growth areas such as Internet of Things (IoT), automotive, insurances and more. Another aspect of their growth strategy includes the development and market introduction of their own security app for end-users.
“Today, anything and everything that comes with a SIM [subscriber identification module] card can be prone to cyberattacks. We believe our solutions can play an important role in the future of protecting all of these devices,” says von Seth.
“In the past, most of the attacks were targeting companies and organizations. Today, we are seeing an increasing number of attacks against individuals. By just mistakenly pressing a button on a harmful website, cybercriminals could have full access and control to your phone, and the only way you can gain back control of the phone is to pay a ransom,” he says.
“Yes, the internet has potential dangers, but we are here to shield you from those, so you can have a worry-free digital experience.”