VU™ Wins Santander X with Solution That Promotes Financial Inclusion

Última actualización: September 18th, 2020 - 05:20 pm

The multinational company that focus on identity protection and fraud prevention was the winner of the Re-Launch category for a mobile device solution that allows secure remote operations.  

Madrid, 17 July 2020

VU™, cybersecurity company focused on fraud prevention and identity protection, is one of the winners of the Santander X Tomorrow Challenge launched by Banco Santander. The project proposed by VU™ is one among the 2,251 innovative solutions presented by entrepreneurs around the world to help mitigate the social and financial impacts of the COVID-19 pandemic.  

The company took part in the Re-Launch category, aimed at finding cutting-edge ways to help businesses open back up, adapting to the new reality and market needs. The proposed solution uses mobile devices to identify and validate users remotely and securely through well-known communication platforms such as WhatsApp, Telegram, Messenger and others used daily, which is convenient for the millions of citizens that nowadays can’t make transactions because they can’t commute. Even though the pandemic is a worldwide reality, the issue prevails in communities far from the big urban centers, where citizens feel the impact of the limited care resources.  

However, the new normal requires technology-based projects that not only help businesses accelerate their digital transformation process, but that also generate social impact and promote financial inclusion. While everybody talks about the customer uncertainty and the visible disruption of production and supply chains, organizations face greater risks related to the development of digital financial services.  

The shift towards digital services based on technological platforms was already helping societies advance financial inclusion before the pandemic started, but lockdowns and social distancing are accelerating the use. The new opportunities created by technology for digital financial services to accelerate and enhance financial inclusion, benefiting low-income households and small firms with typically little access to traditional financial inclusion. 

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