We recently told you about a handful of current threats facing mobile banking users. In that post, we mentioned multi accounting, which is the act of purposefully creating multiple accounts in order to abuse a system. Multi accounting attacks on banking steal victims’ credentials and attackers pair victim’s accounts to mobile banking on their devices. A surefire way to protect against this type of attack is to implement a more thorough identity verification using a personal ID scan and server-side face biometrics.

For many people, the concept of passwordless authentication can be difficult to wrap their head around. How is it that one safely logs in to and interacts with sensitive services without using a password, you may wonder?

Wultra, founded three years ago by Petr Dvořák, protects the Internet and mobile applications of leading banks and FinTech. The company prepares for rapid international expansion and secures tens of millions of Czech crowns in the investment round led by J&T Ventures.

We are thrilled to announce that our Mobile Token solution is now available on Microsoft Azure Marketplace. Thanks to this offer and simplified integration APIs, financial organizations worldwide can now deploy our industry-leading passwordless authentication in a significantly shorter time.

Huawei, a global provider of ICT infrastructure and smart devices, has been in a negative spotlight lately. Many national security agencies have flagged this company as a potential security risk, with some countries imposing sanctions to impede Huawei’s operations. Banks are considered critical infrastructure in most states. As a result, they need to evaluate their approach to Huawei, especially in the context of smartphones and portable devices their customers use to access digital banking. At the same time, they cannot merely ignore Huawei because it is currently the biggest smartphone vendor with a global smartphone market share of approximately 20%.

Finshape and Wultra strengthen its technology partnership to accelerate the synergies and further business expansion. Wultra’s innovative security components are a great asset for Finshape's products, with Mobile Token now being fully integrated into Digital Bank OS and easily available to all clients with Finshape's banking platform.