WAVZ and Nevis Announce Partnership to Combat Cyber Risks in the Banking Sector

Nevis Cyber security

Zurich, Nevis Security AG, a leading specialist in secure login solutions, and WAVZ for Digital Transformation, a leading provider of digital solutions in the ME/A region, today announced their partnership. The goal of this partnership is to combat cyber risks in the banking sector and enable a seamless customer experience. The collaboration combines WAVZ’s expertise in digital transformation with Nevis’ secure login solutions.

As digital transformation in the banking sector advances, consumer expectations are on the rise. For businesses and financial institutions, enhanced customer engagement strategies are crucial to meet these demands. On the other hand, cyber threats in the financial sector are rapidly increasing worldwide. The major risks include fraud, data and identity theft, and money laundering. Additionally, banks are facing stricter regulations and laws such as the Second Payment Services Directive (PSD2), Anti-Money Laundering (AML) regulations, Combating Financing of Terrorism (CFT) regulations, the General Data Protection Regulation (GDPR), and Customer Due Diligence (CDD) process requirements, which include customer identity verification (Know Your Customer, KYC).

Compliance with these various regulations and processes is critical to ensuring data protection, preventing financial crime and terrorism financing, and maintaining customer trust.

Effective Protection for Sensitive Customer Data and Accounts

With Nevis’ solutions, banks can implement robust authentication, authorization, and automated fraud detection tools to protect sensitive customer data and prevent unauthorized access to accounts. At the same time, these solutions enable a smooth and personalized customer experience through seamless login processes across multiple channels, making it easier for customers to access their accounts or other services. Furthermore, banks can leverage customer data to offer tailored products and services that not only enhance customer loyalty but also maximize business potential, providing a competitive advantage for financial institutions.

Nevis’ solutions feature an open API architecture, allowing for easy plug-and-play implementation. They significantly reduce time-to-market for banks and financial service providers, as they enable quick and easy customization to individual solutions.

“Data security, compliance, and a seamless customer experience are top priorities in the banking sector. Nevis’ solutions meet these requirements through robust security measures, compliance features, and seamless authentication methods. With features like Single Sign-On, Multi-Factor Authentication, consent and preference management, federated identity management, and customer data analysis, not only can the security of a bank account be ensured, but personalized recommendations based on customer preferences can also be provided. This greatly enhances customer satisfaction and loyalty.”

Amr Esmat, CEO and Managing Director of WAVZ. 

“We look forward to future collaboration with the experts at WAVZ. We support banks and financial service providers in the ME/A region in implementing a simple and secure solution for authenticating their customers. With our new three-tiered Win-Win-Win strategy, we aim to address the ongoing digitization in the ME/A region and provide secure access controls and identity management. Therefore, we will invest heavily in employees and partners like WAVZ, who bring the necessary expertise to build a global network. With WAVZ, the first step is taken, and we would be delighted to welcome further partners.”

Stephan Schweizer, CEO of Nevis Security AG

If you wish to become a partner of Nevis Security AG to benefit from an international network of expertise, please feel free to contact us at: partner@nevis.net

About Nevis

Nevis develops security solutions for the digital world of tomorrow: The portfolio includes passwordless logins that are easy to use and optimize user data protection. In Switzerland, Nevis is the market leader for identity and access management and secures over 80 percent of all e-banking transactions. Authorities, as well as leading service and industrial companies worldwide, rely on Nevis solutions. The authentication specialist has locations in Switzerland, Germany, the UK, and Hungary.

About WAVZ

WAVZ is a leading provider of digital transformation solutions, specializing in assisting organizations across various industries in optimizing their operations, leveraging emerging technologies, and enhancing customer experience. With a track record of successful implementations, WAVZ is committed to delivering innovative solutions that drive tangible business outcomes.

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