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!
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
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.
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.
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.
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.
Here is the new COVR newsletter for February 2019. In this letter, we give you some news about cybersecurity, tell more about COVRS´s participation in Accelerator Frankfurt and why SMS-authentication is not a good solution.
Prevent fraud and build trust with your customers by merely buffing up your FDP-system.
You don’t want to lose money due to online fraud, do you? Then you better buff up your FDP-solutions, because retailers are expected to lose $ 130 billion in CNP-fraud in just the next five years.
We see a rise in online fraud, as online retail and other digital solutions are increasingly more popular worldwide, cybercriminals are becoming more creative, and they continue to find new ways to attack. As an online retailer, it is of the uttermost importance to increase and expand your Fraud Detection, and Prevention (FDP) measures to keep the criminals away. Would you like to prevent your business from the fraudulent damage and substantial loss in the upcoming years?
Covr takes part in an exclusive accelerator program in Germany
During the past three months, Covr Security has taken part in a highly exclusive accelerator program in Germany, through the organization Accelerator Frankfurt. Here the founder of Accelerator Frankfurt, Ram Shoham explains more about the program and why he thinks Covr is perfect for it.
Accelerator Frankfurt has been active for just over six years with a clear vision and central focus set on the FinTech and Cybersecurity industry. The two founders, Ram Shoham, and Maria Pennanen have a background in finance and tech, that is why it was a natural step for them to help companies working in that industry.
Another example of why SMS-authentication is a horrible idea!
You’d think that in today’s high-tech society, nobody uses text-messages as part of their 2-factor authentication system. But despite hoping that this was dead and buried practice, now and then we see examples of when it’s being used and subsequently hacked.
Recently the customers of Metro Bank in the UK suffered the consequences from this, which goes to show that it is time that we start using safer and more reliable solutions.
A Long Day (with no Cybersecurity)
Imagine waking up, and everything in the entire world has been hacked. How do you commute to work, how do you pay for your food, and how long will the electricity keep your lights on? Cybersecurity matters, more today than ever before!
On February 5, COVR will pitch the company to German investors and potential customers during Accelerator Frankfurt’s Demo Day. This great opportunity will position us very well for a rapid expansion in Germany.
During the autumn COVR, together with two other startups, was chosen from hundreds of companies to take part in Accelerator Frankfurt’s fifth Acceleration Wave Program. The Accelerator Frankfurt Program is very prestigious and COVR is very fortunate to have been chosen. During the three-month program Accelerator, Frankfurt offers 200+ consulting hours on important subjects such as communication, digital marketing, finance, tax-regulations, strategic planning and executive coaching, aimed at the German Market. These experiences and insights will drive our expansion in Germany and further on in Europe to bring the best mobile security solution in the world, to the world.
The Demo Day will live-stream on YouTube, and already know you can set a reminder at:
COVR in cooperation in Dubai
Last week COVR´s CEO Patrik Malmberg and CIO Peter Alexandersson travelled to Dubai to meet representatives and discuss new cooperations in Payment Gateways.
The Magazine Mirror Review has appointed the CEO of COVR Security, Peter Alexanderson, as one of the 10 most Prominent Personalities in the Security Industry, 2018.
Peter Alexanderson: ” A Cybersecurity Leader With Feathers Of Experience In His Cap.”
Covr Security AB
211 19 Malmö
Grev Turegatan 3,
114 46 Stockholm
Östra Hamngatan 16,
411 09 Göteborg
470 Ramona Street
Palo Alto, CA 94301
Neue Mainzer Str. 66-68,
60311 Frankfurt am Main
NORDIC INNOVATION HOUSE
128 Prinsep Street
Emarat, Atrium Building
Sheikh Zayed RD, Dubai