British chip giant ARM has signed up for a joint venture that it believes will vastly improve the way in which consumers bank, shop and do business through their tablets, TVs and phones.

Joining forces with Gemalto and Giesecke & Devrient, ARM is looking to make our connected devices more secure for our everyday use.

"The joint venture, which is subject to regulatory approval, will provide a secure environment for a new wave of advanced services to flourish, based on easy to use, accessible and consistent device security," stated ARM's release.

East: "This will be a significant step in terms of improved consumer trust in secure transactions on connected devices."

TEE off

The venture will do this by developing a trusted execution environment (TEE) that will be used by ARM's manufacturing partners.

So what does a nice cup of TEE bring to us consumers? Well, apparently it will allow for a more secure, user-friendly experience that will speed up our interaction with the digital world and simplify it too.

"This will enable them to use their smart, connected devices more frequently to access an increasing range of applications and services in a secure way," adds ARM.

"This includes mobile payment, enterprise productivity and mobile banking applications, as well as online commerce and premium content services."

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About TEE time

Warren East, the CEO of ARM believes that a joint venture and the adoption of a common security standard is long overdue.

"The integration of the hardware, software and services necessary for system-wide security has been slow," said East.

"I am confident that this new joint venture will accelerate the adoption of a common security standard, enabling a vibrant ecosystem of secure service providers to emerge.

"This will be a significant step in terms of improved consumer trust in secure transactions on connected devices."