As one of 20 winners of the Santander X Tomorrow Challenge, VU Security, a global company focused primarily on fraud prevention and identity protection, is helping organizations mitigate cyber threats facing newly virtual workforces and their means of doing business in the wake of the COVID-19. From more than 2,250 innovative solutions submitted from around the world, VU Security’s proposal was selected by Banco Santander in September as one of the winners of the Challenge’s Re-Launch category. The award recognizes solutions that help businesses reopen and adapt to the new culture shift of working remotely and connecting virtually.
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VU Security™ received 20,000€ to develop its solutions as part of its reward. In addition to the monetary prize, VU Security also received mentoring, roadshow assistance, and global exposure. The company has continued to build on its initial proposal to create remote identity verification and validation tools that help organizations secure transactions via mobile devices and through massively used messaging platforms like WhatsApp, Messenger.
In the award ceremony, Ana Botín, President of Banco Santander, stressed her advocacy and support for entrepreneurship and the need for innovative solutions like VU Security’s. “We can come out of this crisis stronger if we’re able to innovate and come up with new ways of tackling problems… That’s why we’ve set this challenge which highlights the commitment we’ve shown to education, employment and entrepreneurship over the past 20 years.”
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“With living in this new normal and relying on technology more than ever before, consumers need to understand the importance of identifying what user uncertainty looks like,” says Sebastian Stranieri, Founder & CEO of VU Security™. “It is our job as a leader in finance, fintech, and retail to inform and educate consumers about cyber criminality. With the recognition of Santander X Tomorrow Challenge and their advocacy in entrepreneurship, VU™ is able to share our solutions to the short-and long-term problems caused by the pandemic.”
Since July, the benefits and resources obtained by winning the Santander X Tomorrow Challenge were used in adding new members to the VU™ team, at a rate of three collaboratives each month. At the same time, the company dedicated a portion of the resources in increasing the investment in the Research & Development area.
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