Fygi among 33 companies receiving cybersecurity funding

Recently, it was announced that 33 Norwegian companies will receive a total of NOK 20 million to strengthen the country's digital defense. We at Fygi are proud to be part of this initiative. The goal is to make Norway less vulnerable to various digital threats – something we are passionate about contributing to, especially in the retail sector.

Why is this important?

Downtime in stores can lead to lost revenue, customer loss, reputational damage, and more. Fygi’s redundancy solution protects physical stores from downtime regardless of the cause. Whether it’s hacking, ransomware, power outages, POS failures, or network disruptions – Fygi’s vision is 100% uptime for our customers.

Based on our scan & pay product, we deliver a redundancy solution that ensures physical stores remain operational during disruptions. Even if hacking, power failure, network issues, POS downtime, or payment terminal failures occur, Fygi ensures the store can stay open. It’s a cloud-based solution that is always live and ready to use.

Our system is also fully stand-alone, which means Fygi can continue to operate even when other systems are down. This means that Fygi redundancy, combined with good routines, can help eliminate downtime entirely. All the store needs to use the system is a QR code.

Hacking of physical stores is an increasing trend, and with today’s AI development, this will unfortunately only accelerate. The 2024 dark figure survey shows that 18% of companies in Norway with 100+ employees were exposed to hacking or fraud. The consequences of downtime include loss of revenue, customer flight, negative stock development, and reputational damage.

For us at Fygi, this isn’t just about technology – it’s about creating a better, safer shopping experience for everyone. We look forward to working with customers and partners to strengthen cybersecurity across the entire industry.

Read more about the funding on: E24

Do you have questions about how Fygi can protect your store? Don’t hesitate to get in touch.