Safety Detective: What got you interested in cybersecurity and what do you love about it?
Kaarel Kotkas:People usually get curious about something when they are pushed to tackle a particular problem.
My story is no different.
My interest in cybersecurity was triggered more than a decade ago, however, more by accident than intentionally.
I grew up on a beef farm in Hiiumaa, a small island in the Baltic Sea.
My job was to collect the blue twine that was used to tie up the hay bales.
So I searched the internet for biodegradable twine, found an online store, and tried to buy it.
My task was to test their security systems by using a false ID.
This task really got me excited about the world of secure identity verification.
First, developed technology that enabled Estonian e-residents to open bank accounts without physically visiting the country.
Then we moved into banking to help Baltic banks meet compliance and KYC requirements.
Our technology made sure that the person taking the credit really is who they claim to be.
Thats shortly how my journey in cybersecurity started.SD: What do you love about it?
KK:I am excited about where we are heading.
Then you’re free to only rely on your fast legs and run away not to be caught.
In the online world, things get more complicated.
But to establish trust, you need a secure way to prove a persons identity.
Once trust is established, more innovation and services can be accessible for everyone from anywhere.
With the help of our technology, we can build reliable and scalable trust online.
SD: What types of companies use your technology?
KK:We have a diverse portfolio of global clients.
Geographically, our target markets are the EU, the UK, and the US.
How do you stay ahead of the competition?
KK:Veriffs verification engine is highly automated, accurate, and fast.
This figure is twice the size of what our closest competitor can achieve.
We support 36 different languages and 95 percent of identifications are made on the first try.
Much of the competition focuses on human reviewers and picture matching.
What sets Veriff apart is the variety and richness of collected data from each session.
We are also very transparent about the decisions behind the verification process.
This is not the case with Veriff.
KK:Thats a tough one.
As technology is evolving, we also see cyber fraud getting more sophisticated.
KK:The pandemic has definitely accelerated digitalization, including the demand for secure identity verification.
Societal changes that we thought would happen in 5 6 years, now occur in 1-2 years time.
Its an era of digital opportunism.
This means that the opportunities for fraudsters to take advantage of newand potentially poorly designeddigital platforms have increased tenfold.
In particular, the telecommunications, retail, and financial services industries have been especially affected.
In addition to this, more than 100 million risky transactions from March 11 to April 28 were identified.
