Wultra provides easy-to-integrate authentication solutions for web and mobile financial applications, utilizing biometrics, QR codes, and push notifications to enhance security. Their technology addresses the need for robust, user-friendly authentication methods that comply with PSD2 and anticipated PSD3 regulations, ensuring a seamless experience for both users and financial institutions.
Funding
$3.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial applications face increasing threats from fraud and cyberattacks, necessitating robust authentication methods. Traditional authentication methods like SMS-based OTPs are vulnerable to interception and SIM swapping, while password-based systems are susceptible to phishing and brute-force attacks. Financial institutions need secure, user-friendly authentication solutions to protect user accounts and comply with evolving regulations like PSD2 and PSD3.
Solution
Wultra provides a suite of authentication solutions designed to secure web and mobile financial applications. Their platform leverages biometric authentication (facial and fingerprint recognition), QR code scanning, and push notifications to provide multi-factor authentication. These methods offer a more secure and user-friendly alternative to traditional passwords and SMS-based OTPs. Wultra's solutions aim to enhance security, improve user experience, and ensure compliance with financial industry regulations, including Strong Customer Authentication (SCA) requirements. The platform is designed for easy integration, allowing financial institutions to quickly deploy modern authentication methods across their digital channels.
Target Audience
Wultra's primary customers are financial institutions, including banks, fintech companies, and other organizations that require secure authentication for their web and mobile applications.
Features
- Mobile app authentication using facial or fingerprint biometrics and PIN codes
- Web application authentication via QR code scanning and push notification approval
- Docker image and cloud deployment options for rapid setup
- Compliant with PSD2 standards and designed to align with anticipated PSD3 regulations
- Push notifications to replace SMS-based OTPs
- Remote user onboarding without requiring branch visits
- Support for open banking initiatives, providing a unified user experience across applications