Covr Security Secures a Multi-Million Dollar Deal with Major Asian Bank

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Covr Security is thrilled to announce a landmark achievement in the banking sector with a multi-million dollar deal with a prominent Asian bank. This major win involves transitioning the bank from traditional physical hardware tokens to a state-of-the-art, all-digital multi-factor authentication (MFA) system. This shift represents a significant leap forward in digital security, offering a more streamlined, efficient, and user-friendly experience. Covr Security’s role in this project highlights its expertise and commitment to delivering advanced, secure, and innovative digital solutions for the financial industry. The successful implementation of this project not only demonstrates Covr Security’s technical prowess but also cements its position as a leader in digital security transformation.

Oue expectation is that this deal will rapidly expand to include further divisions of the bank. Watch this space for further updates

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Covr Announces delivery of project for EU Horizon Programme

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We are excited to announce a remarkable achievement in the digitisation of access to physical premises using Digital Identity. As part of a a collaboration between Oribi Group (https://www.oribi.nl/en) and Covr Security (https://lnkd.in/dkynfKyK), our recent demonstration at a major European port marks a significant milestone in this joint effort.

The project centred around the development and deployment of the ShowID system, an innovative digital process designed to revolutionize the way port authorities (or any other business for that matter) manages physical visitor access. This system was meticulously crafted and demonstrated at a European port (details to follow…), showcasing its unique capabilities.

Our approach was to simplify the visitor registration process. With ShowID, visitors can register their credentials digitally in advance, leading to a seamless and more secure entry on subsequent visits. The system integrates ID verification, ticket claiming, and secure access control, all streamlined through a user-friendly app and customer portal.

What sets ShowID apart is not just the reduction in waiting times at the gates or the lowered administrative burdens; it’s about how we’ve developed a re-usable digital ID that is only stored in the users device (and shared only when given permission by the users), but also the detection of unauthorized access attempts, as our ID can only be created using a passport or national ID that contains a chip (which we validate against). The result is a system that not only bolsters security but also optimizes the operational workflow.

This project is a testament to the power of collaboration in achieving innovative solutions. As part of the EU’s Horizon research and development programme, we are indebted to SecureIT (www.secureit-project.eu) for their support and funding, which was instrumental in bringing this vision to life.

As we prepare to share more details about this ground-breaking project, we invite you to reach out to us directly if you’re interested in learning more or exploring how ShowID can benefit your operations. Stay tuned for more updates and a deeper dive into this transformative security solution.
hashtag#COVR hashtag#ORIBI hashtag#SecureIT hashtag#digitalidentity

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SYNCH HAR AGERAT LEGAL RÅDGIVARE TILL COVR SECURITY AB

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PRESSMEDDELANDEN Published 27 november 2020

Synch har agerat legal rådgivare till CovR Security AB i samband med bolagets nyligen genomförda finansiering om ca 20 miljoner kronor.
Patrik Malmberg, co-founder och CEO. ”Vi har sedan länge anlitat Synch för legal rådgivning avseende kapitalanskaffningar, kommersiella avtal, regulatoriska – och immaterialrättsliga frågor. Synchs kompetens och erfarenhet kombinerat med deras förståelse för de utmaningar som tillväxtbolag som är inne i en internationell expansion, ställs inför, har varit ovärderlig.”

Covr Security tillhandahåller en mobil multifaktor autentisering som en tjänst (likt ett globalt bank-id) till ett brett spektrum av branscher som är beroende av stark kundautentisering, till exempelvis banker, betalningsnätverk, kreditkortsföretag, eID-leverantörer, IoT-företag och mobiloperatörer. Bolagets användarvänliga lösning bygger på en modern arkitektur med ursprung i nordisk banksäkerhet.

Synchs team i kapitalanskaffningen bestod av Andreas Börjesson och Emma Lundberg. Synchs team för övriga områden består av Erik Myrberg, Veronica Uddsten, Anders Hellström, Mathilda Nordmark och Johan Tydén.

Synch är en internationell advokatbyrå med fokus på digitala affärer och teknologi. Synch erbjuder en flexibel leveransmodell där Digital services kompletterar firmans tjänster inom Advisory services, Projects & Transaction Services och Managed services, SynchWherever. Synchs Projects & Transactions grupp är specialiserade inom privat och publik M&A, venture capital investeringar och finansiering, särskilt i förhållande till teknologi-företag.

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Covr Security recognized as a Global CYBERTECH100 2020 company.

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The CYBERTECH100 is an annual list of 100 of the world’s most innovative CyberTech companies, of which Covr Security is recognized in 2020.

The list announces the world’s most innovative tech companies which provide cyber defence to financial institutions to combat cyber attacks and protect their data.

Read more: https://fintech.global/cybertech100/

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