Despite the global turmoil, we not only managed to keep our company healthy but also achieved growth with an optimistic outlook for 2022. The results reflect the company's efficiency and continuing trend in banking digitization, resulting in increased investments in cyber-security solutions. — In 2021, Wultra earned 17.7M CZK (~$730k), compared to 10.6M CZK (~$440k) in 2020 (+68%). We also boosted our efficiency, resulting in a slight EBITDA profit of 2.1M CZK (~$87k) and a ~12 % overall profit margin. After receiving investment from J&T Ventures, we are now less optimizing for profitability…

Having a great product is not enough these days. One must also tell the world about it. An explainer video is an excellent way to build product awareness with an ever-shorter attention span of potential buyers and purchase influencers. — Malwarelytics protects financial apps from mobile cybercrime — threats posed by mobile malware, jailbreaking or rooting, repackaged apps, or untrusted installation sources. As financial services move to mobile devices, assuring adequate security becomes challenging.

Stavíme obchodní tým. Stavíme ho již podruhé. Náš první pokus tragicky selhal. Firma začala znovu růst až poté, co jsme celý obchodní tým rozpustili. Důvodů pro neúspěch bylo mnoho, a většina jich šla za mnou. V principu byl ale neúspěch založený na tom, že sales tým dělal vše ostatní, jen ne sales. Jen hlupák opakuje stejné chyby dvakrát. Ze stavění obchodního týmu jsem si proto odnesl postřehy — jakási schémata negativních signálů.

Je březen 2020. Trochu v panice se vracím ze služební cesty v Budapešti. Vlaky zpět nejedou ani přes Slovensko, ani přes Rakousko. Autobusy to samé. Jsou zavřené hranice. Zrušili mi již třetí let a proto nakonec letím z Budapešti do Prahy přes Varšavu. Stevardky na palubě letadla poslouchají instrukce ze satelitního telefonu, zběsile lidem měří teplotu bezkontaktními teploměry, které jsou výbavou letadla už od sedmdesátek, a chaoticky připravují improvizované formuláře pro sběr kontaktů. Nakonec úspěšně dorazím domů.

Authentication via SMS-OTP is considered outdated because of higher overall costs, low user convenience, insufficient regulatory compliance in specific geographic regions, but primarily for practical security reasons. — Banks and financial institutions should phase out this method and replace it with more secure user authentication, such as authentication via mobile app or hardware token. This post summarizes the main areas that should motivate organizations to move away from authentication via SMS OTP.

Right now, as I am writing this post, our company website is down. Under normal circumstances, this would trigger an immediate investigation in an attempt to resolve the issue as quickly as possible. However, we rely on the platform provider for hosting. Nothing is under control, so we can just wait… — It has already been 8 hours and counting. Our website still shows the ominous “404” error page. Nothing we can do, we have no backup. The communication from the platform provider is terrible. We have no info about when the issue will be resolved, or even what is actually happening…

On Thursday, April 22, between 09:03:12 GMT and 09:06:25 GMT, we noticed suspicious activity in the Malwarelytics threat intelligence back-end systems. After investigating the incident, we assume that the activity could be a part of a complex mobile banking malware attack on Android. The scenario is in preparation. The cybercriminals are now attempting to tamper the cyber defense systems (probably from various vendors) that could stop or minimize the attack’s impact.

What do you know about the Czech Republic? Most people would probably mention Prague, excellent beer, and SKODA cars. However, the Czech Republic is also home to a thriving cybersecurity startup ecosystem. — The Czech cybersecurity startups deserve more attention, broader acceptance, and opportunities worldwide. We prepared a list of noteworthy cybersecurity startups to provide a decent overview. We decided to order it alphabetically so that we can mention Wultra at the very last place. :-)

We believe that security improvements must go hand in hand with an amazing user experience. That’s why we gave our mobile token app a big UI facelift. We wanted to make sure that the white-label product does not hold our customers back and matches the latest mobile design trends, to help them win in the digital transformation race. The update will be available to all our mobile token customers for free.