swIDch wins “Startup of the Year” at the 2022 Cyber Security Global Excellence Awards

swIDch, an innovative cyber security technology provider based in London has been named “Startup of the Year in Security Services” and Gold Globee winner at the 18^th Annual 2022 Cyber Security Global Excellence Awards.

Established in 2003, the Cyber Security Global Excellence Awards are one of the world’s most highly sought-after business accolades for individuals and organisations of start-ups, SME & enterprise globally. It is considered one of the security industry’s premier award programs with the aim of highlighting key accomplishments in every aspect of security and information technology. The award is designed to generate hype, excitement and recognition for the best innovative companies, products, people, and services, those at the forefront of cyber security innovation, taking the industry to new heights.

This is a great start to 2022 for swIDch, bringing the number of career-winning trophy wins at major international awards to six in total. While 8 companies were finalised in the security service competition, swIDch was awarded as the only winner of "Startup of the Year in Security Services". Many global companies and security brands with significant recognition were on the list of winners in this year's awards.

swIDch's revolutionary technology, One Time Authentication Code (OTAC) significantly increases security whilst reducing user friction by seamlessly removing authentication steps in existing systems as opposed to adding them as is the current industry standard. It generates a one-time dynamic code that never duplicates and simultaneously supports identification and authentication between users and devices even in an off-the-network environment, overcoming the limitations of existing authentication methods such as ID & password, OTP and tokens.

swIDch is expanding its core business into the Internet of Things (IoT) security market targeting telecommunication service providers and the multi-functional card (aka all-in-one card) market in which global financial service firms are seeking solutions. Its offering has been well received by global mobile operators and financial service firms.

Chang-Hun Yoo, Founder and CEO, swIDch said, “We are delighted to win Gold at this years Cyber Security Global Excellence Awards and I believe this is testament to the revolutionary potential of swIDch in pioneering new technology to greatly enhance the authentication ecosystem. We will provide OTAC not simply as an alternative to existing authentication security methods, but as a technology that leads the evolution of authentication security processes for new diverse business areas for global industry leaders.”

swIDch has achieved outstanding results across various awards and acceleration programs such as EUROPA and Cybertech 100. It has once again proved its technological prowess, innovation, and growth potential with "Startup of Year" and Gold Category winner. swIDch is continuing to develop its OTAC ecosystem by expanding its business with a focus on Internet of Things (IoT) security and vulnerabilities in 2022.