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/

Patrik Malmberg and Peter Alexandersson in talk on investments post-corona at KiwiTech with Amazon Alexa Fund, Revolution, Lumia Capital, BuildGroup. panel.

Digital payment and online banking are all about striking the right balance between customer convenience and security. People expect it to be easy, so a complicated authentication process will turn them away. Luckily, onboarding users with COVR’s Multi-Factor Authentication API is not a problem. With this API, they can authenticate their payment directly from their smartphone without interrupting their flow.

COVR’s Multi-Factor Authentication API enables fast and convenient user authentication on smartphones. It keeps you and your users protected from all types of fraud and impostor activity, like identity theft, credit card hijacking, skimming and phishing. Even in risky settings like public wifi and unknown, unprotected networks. The API facilitates compliance, user retention and growth by providing stable and secure authentication and supporting user-friendly onboarding.

The Multi-Factor Authentication API is designed to help you to:

1. Comply with laws against money laundering, financial crime and enhanced privacy for individuals.

2. Defend and protect from online fraud and identity theft.

3. Facilitate people’s expectations on convenient, fast, secure signup and account login experiences.

Upgrade security with user-powered control and push notifications

Enable your end-users to actively protect their digital identity. With the Multi-Factor Authentication API, they control what information they share and with whom.

Thanks to push notifications instead of passwords, the onboarding and login process are a piece of cake. Once the user has logged in, the in-app verification alerts give the user the option to accept or deny authorization with a single tap. 

One solution for every authentication scenario

COVR’s API is developed for any industry in need of strong end-user authentication and can be applied throughout all user groups – employees, end-users and third-parties. It works seamlessly across all platforms, applications and use cases. It also lets you authenticate end-users and authorize access throughout all of your business applications quickly.

The unique benefits

1. Benefit from passwordless authentication to access to sensitive information and money transactions.

2. Activate two or more authentication methods to protect your users from every threat.

3. Authenticate and onboard users with QR codes for a smooth end-user experience.

4. Allow users to authenticate themselves to sign contracts, loans and other legal documents.

Fast implementation, scalable and cost-efficient

COVR needs a minimum of infrastructure to scale for unlimited users simultaneously and plugs into existing systems with minimal modification. There’s no need for additional, expensive hardware.

Credit card security

Does your company issue credit cards? Then you know it’s a complicated process for both customer and issuer to re-approve a transaction that has been denied. It involves phone calls, security questions, identity document verifications or other payment methods.

With the Multi-Factor Authentication API, you can allow the credit cardholders to authorize the transaction themselves. This eliminates the problem with payment rejection and false-positive denials. Every smartphone can be reached by the bank in seconds, anywhere in the world. It is also registered to send authorization request push notifications with a response time of a couple of seconds. The result: seamless card transactions, and fully trusted, accepted purchases – both by the bank and its customers.

Reusable identity validation and account recovery

Dealing with stolen credit cards, lost smartphones or hacked accounts? Recovering all the lost data from each online service could be a lengthy and costly task.

With this API, recovery processes run fast, easy and secure. After a new identity verification is done, COVR can reconnect the user with their existing digital identity. Including all their history, transactions and various accounts. As nothing is ever lost, the user can continue to build their online reputation. 


Patrik Malmberg, CEO

Dear subscriber, 

The cyber security landscape is dynamic with no sign of new threats, technologies, and vulnerabilities slowing down. The new decade could lead to more attacks against companies that have yet to take on a layered approach to authentication. For this reason, cyber security will stay in the spotlight, not only this year, but for the predictable future.

At Covr Security, we also believe that the 2020s will need a powerful collaboration and effort between cybersecurity experts, innovation, and industry knowledge to defend against, and prevent, security attacks and threats. To sum things up, 2020 will undoubtedly be another interesting decade for cyber security!

Stay safe,
Patrik Malmberg and the team at Covr Security


API marketplaces open up for opportunities

Open banking and financial ecosystem opportunities for security fintechs are going through the roof thanks to API marketplaces for financial and complementing services. At Covr Security, our API is available on the APIX marketplace.


User-controlled security for credit card companies

When automated fraud detection systems detect potentially fraudulent activities, they often reject credit card transactions or freeze accounts. This becomes a problem both for the issuer and the credit card holder. With COVR, a credit card holder can authorize the transaction directly, which eliminates the problem with payment rejection and false-positive denials. This is how.


The shortcut to lost data recovery

Money laundering and financial crime regulations urge service providers and financial institutions to deliver reliable identity proofing. At the same time, identity fraud is escalating, and it is hard for service providers and financial businesses to trust that someone is whom they claim to be online. 

Being a busy startup, things have a habit of moving fast – especially this time of year. Still, I want to take the time to give you a quick roundup of what’s going on in our corner of the digital world.

Enjoy and stay safe,

Patrik Malmberg and the team at Covr Security


New partners

The market for platforms for Open Banking keeps on growing, and we have recently signed major partner agreements to help accelerate PSD2 compliance and Open Banking value creation.

MobiMedia

We are adding our multi-factor authentication solution to MobiMedia’s overall customer offer. MobiMedia is a public company listed on the Warsaw Stock Exchange- They focus on mobile e-commerce and media services and provides mobile marketing and payment solutions in Eastern Europe.

https://bit.ly/2NAiQh3

KPN

KPN is the leading telco, mobile, and network services provider in the Netherlands, with more than 33 million subscribers. Covr Security will be the first company to provide a secure authentication API to their enterprise/third party marketplace. Our API supports advanced multi-factor authentication and mandatory SCA for Open Banking in Europe. 

https://bit.ly/33BDi6N

Precise Biometrics

An essential step in our progress is the joint agreement with biometric fingerprint solution provider Precise. The agreement is strengthening our offer by adding a verification solution for digital services and transactions between mobile units. The initial goal of the partnership is to carry out pilots during the second half of 2019 and then enter into a commercial phase. 

Are you interested in becoming our partner?

We provide our multi-factor authentication-as-a-service to a wide range of industry partners – eID providers, service providers, enterprise partners, mobile carriers, and other security technology providers. Contact us by hitting reply for more informatio

COVR Software Development Kit (SDK) launch

We are as we speak, releasing our comprehensive SDK that gives third party authentication possibilities like password-free logins, instant verifications of financial transactions. Get in touch with us for a walkthrough!

Covr Security out and about

Mats Holmfeldt, our Senior Executive Operations for the Asia Pacific, attended the SCxSC Fintech Conference in Malaysia as Keynote Speaker. SCxSC is organized by the Malaysian Securities Commission every year and is an important forum for Finch innovations in Asia.  https://lnkd.in/d3vMSSm

Covr Security nominated for Nordic Startup award

We are happy to announce that Covr Security has made it to the national shortlist as a finalist representing Sweden under the category Best Fintech Startup. The nomination is an excellent achievement since Covr have been selected out of 3329 submissions. 

Global Startup Awards is the biggest Award show celebrating startups in the world – and the Nordics are no exception to that.

The award will be presented at a Grande Finale in Copenhagen, on the 5th of December.

Everyone can vote for their favourite for the awards and then a jury will decide who will win the prizes in each category. If you want to read more and vote for your favourite follow this link – vote here.

The winners from the national events will be automatically shortlisted for the same category in the regional finale and compete against other nations in the same region. In both the national and regional process, the winners are selected by both public voting and jury delegation. 

The winner from each category and region will then placed against each other to determine who is the winner of the Global Startup Awards. A bi-annual award, this year the Finale is in 11-14th, December 2019 Changsha, China.