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April 20, 2021

Varchev Finance taps SEPA Cyber Technologies for new digital wallet

By Shalini mani

Bulgarian financial services firm Varchev Finance has partnered with SEPA Cyber Technologies to develop a new customised digital wallet.

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Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
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by GlobalData
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The multifunctional digital wallet will enable Varchev’s customers to carry out contactless payment, transfer money from one account to another, and exchange currencies.

The wallet can also be used to top up their accounts directly from their smartphone or laptop.

The wallet leverages SEPA’s latest technologies for the automation of regulatory processes, minimising the time taken for opening an account and verification of business and private clients in the European Economic Area.

It features identity verification modules to improve data security and simplify the digitisation of financial processes.

Additionally, it is said to reduce the time for execution and approval of online payments, money transfers, and currency exchange.

SEPA Cyber Technologies CEO and founder Marvin Blazhevski said: “We are extremely excited that Varchev chose SEPA Cyber Technologies for the development of a customised digital wallet.

“Our mission is to help progressive companies like Varchev to digitise and enlarge their businesses while offering their clients a secure and reliable environment to execute financial operations.”

In February this year, Bulgarian lender First Investment Bank partnered with American payments giant Mastercard to launch a new digital wallet named ‘MyFin’.

Last December, Bulgaria-based payment service providers Paynetics and phyre joined forces to launch an e-wallet solution for Bulgarian American Credit Bank (BACB).

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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