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In July 2025, the Bank for International Settlements (BIS) published Paper number 158, highlighting the urgency of preparing for the quantum threat to maintain the security and credibility of the global financial system.

The Bangko Sentral ng Pilipinas (BSP) has issued new rules under the Anti-Financial Account Scamming Act (AFASA), requiring banks and financial institutions to overhaul their fraud management and authentication systems by June 2026.

The Central Bank of the UAE (CBUAE) is preparing to phase out SMS-based One-Time Passwords (OTPs) in favor of stronger, more future-ready authentication methods.

The use of mobile platforms for banking services has skyrocketed in the LATAM region. Currently, 62% of all transactions in this region are performed or authorized on mobile phones.

Latin America is experiencing a robust shift toward mobile-first banking and payments — fueled by high smartphone adoption, regulatory support, and fintech innovation. 62% of Latin Americans use mobile wallets or payment apps for routine transactions. For example, Colombia is broadly in line with the regional trends, and new services like Nequi digital wallet captured 21 million users in just a couple of years.

As the world prepares for the quantum computing era, fears of massive slowdowns and performance bottlenecks in authentication systems are common — and understandable. After all, post-quantum cryptographic (PQC) algorithms use significantly larger keys and are more complex than their classical predecessors.

Wultra had the unique opportunity to participate in a week-long official visit to Japan, led by His Excellency Petr Pavel, the President of the Czech Republic. Our CEO and founder, Petr Dvorak, joined a select group of Czech business leaders from July 21–27, 2025, to explore new economic and technological partnerships between the two countries.

Wultra has been recognized as a Sample Vendor for post-quantum authentication (PQA) in the Gartner® Hype Cycle™ for Digital Identity, 2025.

The Central Bank of the UAE has issued a new directive requiring all financial institutions to eliminate SMS and email-based one-time passwords (OTPs) by March 2026. With fraud on the rise and only a handful of banks fully compliant, the race is on to adopt secure, biometric, and risk-based authentication methods.

Securing customer data is no longer just a technical concern — it’s a core part of building trustworthy banking products. As a product owner, you’re likely to encounter conversations about cryptographic techniques — terms like encoding, hashing, encryption, digital signing, and authentication codes often surface in discussions around security and compliance. However, these concepts can be complex and occasionally overwhelming, especially if you don’t work hands-on with the underlying technology.