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How Uniqkey is revolutionzing cyber security for businesses

Simon Cederstråhle Melander & Hakan Yagci Uniqkey A/S Børsen interview

When it comes to preventing data breaches, password security is the one area, where a small effort makes a huge impact – yet most businesses, small and big, are lacking in this regard.

In an 2019 interview arranged by TechSavvy, Denmark’s go-to digital media for entrepreneurs, Uniqkey’s CEO, Hakan Yagci, and CMO, Simon Melander, were offered the opportunity to present their new and innovative solution to a decades-old cyber security problem: The risky practice of using weak or re-used passwords in a business setting. 

Eliminating the most common security risk

In the cyber security industry, it is a widely known fact that 81% of all data breaches are caused by weak or re-used passwords.

Despite this alarming number, and the vast number of readily available password managers, safe password habits among employees are still an exception rather than the rule. 

Simon Melander explains that Uniqkey was founded to change this. To make the daily use of passwords a thing of the past, replacing the manual input of credentials with an app that stores passwords safely and auto-fills all login information instantly with the click of a button.

“The end goal is to make cyber security safe, simple and convenient for both company and employee.” says Simon Melander. “Right now, a lot of companies are convinced that proper cyber security costs millions and takes months to implement. But we can onboard a company in less than an hour.”

Unbreachable by national white-hackers

To reach a level of security that can withstand even the most intricate attacks from malevolent actors, Hakan and Simon have recruited white-hat hackers to help develop Uniqkey from the beginning.

“Working with cyber security is an enormously complex endeavor.” Explains CEO, Hakan Yagci, and continues: “Because of this, we’re always testing our defenses by inviting hackers to do their best to breach our system. The last three weeks, we’ve even had the Danish national cyber team try to find cracks in our security. They haven’t managed to find any yet.”

What makes Uniqkey unique in comparison to its main competitors such as Lastpass, is that while other password managers store their users’ passwords online, Uniqkey stores them offline and locally on each users’ own device. “If Lastpass gets hacked, their users’ passwords will be leaked. If Uniqkey gets hacked, they won’t be able to access any of our users’ passwords because they are stored locally on users’ own devices.” Simon Melander explains.

To read the full interview by TechSavvy, go here. 

The interview is currently only available in Danish.

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