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Verisec

Research interview

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Continued growth for the security industry during 2016

Verisec has a track record of growth in security and hardware services from when it was founded in 2002. It has gradually transitioned itself into a software player in the digital identity and information security sectors. We have interviewed CEO Johan Henrikson about his views on the challenges for the company 2016.

Q: What do you recognize as the key challenges during 2016?
 
A: I think the main challenge will be related to the new regions in which we established a precence during 2015. With long sales cycles it is important to get an early head start with marketing and sales initiatives. We have laid a good foundation during 2015, but we need to work hard at building the regional pipelines, and moving projects forward.
 
Q: How do you see the general security industry affecting your business during 2016?
 
A: With ever increasing cyber threats and increased digitalization we see continued strong growth in the market for cyber security. Identity being a core component for delivering digital services is well positioned to take advantage of the inherent growth of the market. Increasingly we will see new industries realizing the need for stronger security, which will  add to the growth in the years to come.
 
Q: Can you explain a bit about what you are looking forward especially for in 2016 for the various Banco Bilbao Vizcaya
Argentaria contracts signed?
 
A: As we have mentioned before, the infrastructure that we have put in place is a fundamental component for delivering Freja Mobile in a large scale. We will continue working with BBVA and other banks, to push Freja Mobile as the end-user device of choice when they are ready to take this step.
                                                      
Q: Can you elaborate around key factors in your business that will drive growth during 2016 – you have a quite a solid cash position which can be utilized to enhance growth further?
 
A: As this point in time we are not looking for additional markets or regions in order to keep our focus on the target markets where we have a position today. When we feel that existing markets deliver results in line with our expectations we may consider additional markets, or increased precense in our existing markets. For the time being we will focus our attention and cash to ensure a sound return on investment from existing markets.
 
Q: Can you describe the potential and commercial development of the OEM (Original Equipment Manufacturer) encryption solution for mobile apps?
 
A: I think the key issue around understanding the OEM offering is to understand the digitalization trend as a whole. As society becomes more digital, the number of application and service vendors will continue to increase. An essential component for these services will be to establish a trusted relationship between users and providers of technology or services. At Verisec, we are all about enabling this trust, by delivering tools that can be seamlessly integrated into an application or service. By providing trust while enhancing the user experience, Verisec technology can become a game changer in the inevitable digital evolution.