Stronger Together: Fintechs, Techs, and FIs Collaborating on CyberSecurity

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Ready for some good news on the cybersecurity front?

Most of the time cybersecurity appears in the headlines, it is a report of a breach that just occurred or a new threat to guard against in the future. Caught between the hack that caught us unaware and the certainty that it won’t be the last, we can lose sight of the fact that there are hundreds of cybersecurity firms with thousands of security professionals that are working around the clock to make our lives online a lot safer. And many of these companies are Finovate alums specializing in service to the financial industry and its customers.

Ted Ross, founder and CEO of SpyCloud, demonstrating the company’s Best of Show-winning platform at FinovateFall 2017.

Importantly, not only are these companies working 24/7/365 to fight cybercrime, but also many of them are teaming up and partnering with financial institutions, retailers, and each other to test their technologies, make key improvements and enhancements, and ultimately get their fraud-fighting solutions to market.

With that in mind – and in line with our October focus on cybersecurity – here’s a look at the partnerships, agreements, and collaborations forged by our cybersecurity-related alums so far in 2017.

October

Fintech-to-Tech

  • Mitek partners with handwriting-based biometric authentication service Asignio to deliver IDaaS solution.
  • Avoka extends strategic partnership with Mitek for digital identity verification solutions.
  • ThreatMetrix and ID.me partner to deliver ID verification for government and commercial digital services.
  • Ledger partners with Intel to boost blockchain app security.
  • BioCatch to power behavioral biometrics for Samsung SDS America. 
  • SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
  • Zighra launches flagship continuous authentication product.
  • Kony to launch digital banking solution leveraging Daon biometrics. 
  • iSignthis to integrate its Paydentity UBO Service with Web Shield’s InvestiGate platform.
  • TASCET teams with Secured2 to launch Algo5 data security offering.

Fintech-to-FI

  • Latvian Bank Citadele secures mobile and online banking with VASCO’s DIGIPASS for Apps and CRONTO.
  • National Bank of Canada joins SecureKey’s digital identity network.

Fintech-to-ECommerce

  • HooYu to provide ID confirmation for U.K.’s Cars-as-a-Service easyCar Club.

Multiple Best of Show winner EyeVerify demonstrating its Eyeprint ID technology at FinovateEurope 2017 with partner YapiKredi Bank.

September

Fintech-to-Tech

  • Vera to provide data security services for GE.
  • BioCatch to power fraud prevention solutions for HoneyTek Systems.

Fintech-to-FI

  • DefenseStorm to bolster cybersecurity operations for Genesee Regional Bank ($551 million in assets).
  • Open Banking selects Ping Identity to provide the identity and access management to underpin the U.K.’s open banking framework.

Fintech-to-Ecommerce

  • Signifyd guarantees fraud protection for Magento Commerce Merchants.
  • Infosys Finacle partners with ToneTag to leverage sound wave technology to drive contactless authentications and transactions.

August

Fintech-to-Tech

  • Jumio partners with Plynk to bring instant verification to Europe’s first money messaging app.
  • FIS and Equifax partner to offer new identity verification solution, OnlyID.
  • Biometric Signature ID partners with National Fingerprint to provide virtual ID proofing and verification services.
  • BioCatch partners with LexisNexis to leverage data and analytics for better risk management.

Fintech-to-FI

  • Samsung to power biometric authentication pilot for Bank of America.
  • Mexican payment processor chooses fraud fighting technology from Featurespace.

Fintech-to-ECommerce

  • HooYu brings identity confirmation technology to BCRemit.

July

Fintech-to-Tech

  • ID Analytics partners with Acxiom to strengthen risk assessment and combat fraud.
  • HackerOne Powering bug bounty program for Tor browser.

Fintech-to-FI

  • MoneYou integrates Mitek’s identity solutions for real-time digital onboarding.
  • DefenseStorm to serve as cybersecurity partner for Bank of Jackson Hole to enhance security.

Fintech-to-ECommerce

  • International Air Transport Association chooses fraud prevention technology from Featurespace.
  • Signifyd brings its Guaranteed Fraud Protection solution to Authorize.Net’s U.S.-based e-commerce merchants.

Behavioral biometric innovator BehavioSec, shown here demonstrating BehavioSec on Demand at FinovateFall 2015, has won three Best of Show awards.

June

Fintech-to-Tech

  • Daon adds EyePrint ID to IdentityX platform courtesy of new partnership with EyeVerify.
  • IdentityMind Global to offer Confirm.io’s document authentication technology to its financial services customers.
  • Jumio partners with Monzo for strong identity verification.
  • iovation to integrate its device-based authentication technology with PingFederate from Ping Identity.
  • TSYS partners with Featurespace to deliver real-time decision capabilities.

Fintech-to-FI

  • Leumi Card to use Feedzai’s artificial intelligence platform to fight fraud.
  • Ghana-based Premium Bank selects NetGuardians’ anti-fraud solution – FraudGuardian.

May

Fintech-to-Tech

  • Cisco and IBM team up on security.
  • BehavioSec partners with Kount.
  • Trulioo partners with Mitek to add facial recognition functionality to its ID verification platform.
  • Daon to integrate IdentityX platform with Experian’s fraud and identity platform, CrossCore.

Fintech-to-FI

  • Australia-based forex broker Pepperstone to deploy Paydentity verification services from iSignthis.

April

Fintech-to-Tech

  • Fraud prevention innovator Featurespace partners with U.K. digital family banking solution, goHenry.
  • Payment solutions provider Buckaroo chooses AML solution from Fiserv.

Fintech-to-FI

  • Global financial services firm chooses Mobile Verify and Mobile Fill from Mitek.

Fintech-to-ECommerce

  • Braspag announces integration of e-commerce and anti-fraud technology from ACI Worldwide.

A FinDEVr favorite, HackerOne and its bug bounty and vulnerability disclosure platform leverage white hat hackers to find critical security gaps before criminals do.

March

Fintech-to-Tech

  • Mastercard adds to authentication arsenal with acquisition of NuData Security.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub.

Fintech-to-FI

  • Daon brings mobile biometric authentication to UnionBank.
  • Co-op Financial Services to leverage machine learning-based fraud fighting technology from Feedzai.
  • Pindrop to mitigate call center fraud for credit union service organization PSCU.

Fintech-to-ECommerce

  • Saltrex to use Jumio’s Netverify Trusted-Identity-as-a-Service.
  • Featurespace to provide machine learning fraud and risk management solution to CashFlows.

February

Fintech-to-Tech

  • BioCatch brings continuous online and mobile authentication to Nuance Communications’ Security Suite solution.
  • Icon Solutions joins forces with Featurespace to bring anti-fraud protection to instant payments.

Fintech-to-FI

  • Affinity CU becomes “trusted sign-in” partner in SecureKey Concierge.
  • First national private bank of Turkey, Yapi Kredi to deploy Eyeprint ID from EyeVerify for mobile logins.

Fintech-to-ECommerce

  • Feedzai and Merchant Risk Council (MRC) team up to leverage AI and machine learning to fight fraud.
  • MoneyGram using Mobile Verify from Mitek to meet AML requirements.

January

Fintech-to-Tech

  • Arxan Technologies partners with Cisco as to protect connected medical devices.
  • WISeKey and Stratumn partner to provide enterprise-grade process security software based on blockchain technologies.
  • FICO and Ethoca partner to improve card acceptance rates, fight CNP fraud, and reduce disputes.

Fintech-to-FI

  • ACI Worldwide to provide fraud protection for Kuwait’s Shared Electronic Banking Services Company (KNET).
  • NetGuardians brings real-time fraud protection to Nigeria’s Keystone Bank.

 

Finovate Alumni News

On Finovate.com

  • AutoGravity Partners with Global Lending Services.
  • SelfScore Rebrands as Deserve, Closes on $12 Million in Funding.
  • Credit Sesame Raises More than $42 Million, Unveils Robo Advisor for Credit.

Around the web

  • Avoka extends strategic partnership with Mitek for digital identity verification solutions.
  • Commercial loan origination, CRM are among the new features in Baker Hill NextGen solution.
  • OnDeck partners with Ingo Money and Visa to provide loans to SMEs via debit card.
  • Westpac NZ to transition to real-time banking platform from ACI Worldwide.
  • Regions Bank to add P2P payment and account-to-account transfer solutions from Fiserv.
  • iSignthis announces new agreement with Omnislots.com operator, Dialinvest.
  • Payment Ninja to launch in the U.S. in November.
  • ThreatMetrix and ID.me partner to deliver ID verification for government and commercial digital services
  • Russian bank Lipetskcombank implements new mobile banking app built on Tranzware Mobile Banking from Compass Plus.
  • Accenture and nCino expand alliance to accelerate digital transformation within top U.S. banks
  • Symbiont joins Wall Street Blockchain Alliance as corporate member.
  • Envestnet | Yodlee to integrate risk insight solutions with Fannie Mae’s Ddsktop underwriter validation Service.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Fenergo Helps Santander Enhance Customer Onboarding Experience.

Around the web

  • Juvo partners with Malaysian mobile virtual network operator (MVNO), Tune Talk. Join Finovate as we return to the Far East for FinovateAsia in November.
  • Alpha Payments Cloud accentuates its end-to-end middleware technology in rebrand to Alpha Fintech.
  • Klarna completes acquisition of German online payment specialist, BillPay.
  • ID.me adds support for FIDO U2F (Universal Second Factor) Security Keys.
  • DefenseStorm wins 2017 IDC FinTech Rankings Real Results Award for Digital Trust and Stewardship.
  • Alpha FinTech (formerly Alpha Payments Cloud) and Market IQ shortlisted for inaugural FinTech Abu Dhabi Innovation Challenge in October. Join our first foray to the Middle East as Finovate comes to Dubai in December.
  • Hip Pocket founder Mark Zmarzly to help promote innovation and provide mentorship to fintech startups in Australia as part of new Queensland-sponsored initiative.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Behalf Teams Up with FinWise Bank to Boost Small Business Lending Options
  • Samsung to Power Biometric Authentication Pilot for Bank of America
  • ACH Alert’s Fraud Prevention HQ Empowers Account Holders to Stop Suspicious Transactions

Around the web

  • PayPal unveils two new innovation labs in India.
  • Albany, New York-based SEFCU chooses Fiserv as technology partner.
  • FICO selects Amazon Web Services as its cloud provider.
  • SF Chronicle profiles mortgagetech innovator, Unison, in feature on downpayment assistance for Bay Area homebuyers. Join them next month in New York for FinovateFall.
  • GoBankingRates highlights AutoGravity, M1 Finance, Venmo, Mint in list of best personal finance apps
  • ID.me hires Julie Filion as Chief Marketing Officer.
  • eMoney Advisor moving into Rhode Island offices, expects to hire 100 by 2020.
  • Flywire Offers Summertime Deal for International Tuition Payments with Mastercard.
  • StreetShares adds Heather Tuason as new Chief Product Officer.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Market Earlybird Helps Market Professionals Identify Trading Opportunities First.
  • Additiv Lands $25.5 Million Investment
  • Algomi Acquires AllianceBernstein’s ALFA’s Fixed Income Liquidity and Analytics Tool

Around the web

  • Kony partners with KMC controls to bridge mobile apps and IoT
  • Clover now enables Android Pay’s Smart Tap
  • TickSmith releases a Python API for the new generation of financial data scientists
  • ID.me wins Trailblazer Award at 1st Annual K(NO)W Nodes Awards Show
  • Finextra: Google and PayPal partner for mobile shopping by fingerprint
  • ProfitStars introduces Automated Website Governance Solution
  • FinovateAsia Best of Show winner Finn.ai earns spot in Payments Canada’s pitch competition, Dragon’s Den.
  • OutSystems adds Tom Schodort and Bill Macaitis to its board of directors.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateSpring Sneak Peek: ID.me

IDme_homepage_April2017

FS2017-Logo(rev)V1A look at the companies demoing live at FinovateSpring on April 26 & 27 in San Jose. Pick up your tickets today and save your spot.

The ID.me Identity Gateway provides identity federation services to federal agencies, healthcare orgs, retailers, and FIs to streamline authentication, onboarding, and attribute validation.

Features:

  • Single sign-on accredited by the federal government as a legal form of ID for authentication across domains
  • Credential broker for identity federation
  • Customized attribute validation

Why it’s great
The market is bigger for all via reduced acquisition cost for account opening, customer frustration, and fraud if consumers have agency over a federated login for easy authentication across websites.

IDme_BlakeHall_FS2017Presenters:

Blake Hall, Founder and CEO
Hall is the founder and CEO of ID.me. Prior to founding ID.me, he served in Iraq where he earned the Bronze Star with Valor for heroism. He holds degrees from Vanderbilt and HBS.
LinkedIn

 

IDme_SteveSmith_FS2017Stephen Smith, Director of Strategic Partnerships
Smith is the Director of Strategic Partnerships at ID.me. Prior to ID.me, Smith served in Iraq where he earned the Bronze Star with Valor for heroism. Smith leads ID.me’s engagements with FIs.
LinkedIn

 

Finovate Alumni News

On Finovate.com

  • Fintech Favorites: A Roundup of Top Stories in Fintech
  • Aire Raises $2 Million, Receives Regulation from the Financial Conduct Authority (FCA)

Around the web

  • India-based HDFC Bank selects Backbase to implement its digital banking platform.
  • Inc. Magazine features entrepreneur and veteran Blake Hall, CEO and co-founder of ID.me.
  • Neustar appoints Nick Hulse as chief revenue officer.
  • Kristina Campbell joins PayNearMe as chief financial officer.
  • Fiserv collaborates with CoreLogic to provide enhanced loan-modification technology.
  • Xero teams up with Barclays to improve access to transaction data for U.K. businesses.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

ID.me Lands $3.7 Million Grant

Screen Shot 2016-08-29 at 8.48.04 AM

Last week, digital identity network ID.me received a grant from the National Institute of Standards and Technology (NIST). ID.me was awarded $3.75 million through NIST’s program called the National Strategy for Trusted Identities in Cyberspace, which focuses on researching new forms of identity management.

ID.me, a Virginia-based company, is one of six grant recipients that received a cut of the total $15 million, which was divided into amounts from a little under $1 million to $3.75 million. ID.me will use the funds to pilot what’s known as federated credentials, a single set of credentials that works on multiple websites.

Mike Garcia, director of the National Strategy for Trusted Identities in Cyberspace, says the goal of the program is to “foster innovation that can make critical services more convenient and trustworthy for consumers while strengthening online security.”

14109950416_9a0d035b06_kID.me’s Blake Hall, CEO and co-founder, and Ryan Fox, VP of product strategy, presented at FinovateSpring 2014

Founded in 2010, ID.me offers a way for people to prove their special group affiliations online—whether military, student, paramedic—to receive special promotions offered to their group. At FinovateSpring 2014 the company’s CEO and co-founder Blake Hall demonstrated how ID.me captures identity attributes without creating additional friction at checkout.

ID.me has received more than $17 million in funding from investors such as Silicon Valley Bank, USAA, and Scout VC. In 2014 the company acquired student discount platform Perkla.

Finovate Alumni News

On Finovate.com

  • ID.me Lands $3.7 Million Grant
  • Coinbase Offers Mobile Card Payment Option to European Bitcoin Buyers

Around the web

  • RightCapital announces new partnership with Alliance of Comprehensive Planners (ACP). See Right Capital at FinovateFall 2016 in New York next week.
  • Intuit unveils personalized app recommendations for QuickBooks Online.
  • Business News Daily names BlueVine Best B2B Factoring Service.
  • Top Image Systems increases footprint in Asia.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Moven Launches Offers with Four Merchant Partners”
  • Gem Raises $7 Million in Series A”

Around the web

  • Blackhawk Network acquires GiftCards.com and OmniCard for $120 million.
  • EyeLock partners with Diebold to develop new ATM experience using mobile app, QR codes, and iris scanning.
  • Trustly partners with GoldMoney’s BitGold to connect with financial institutions for direct deposits and redemptions.
  • LiveRamp interviews Cardlytics CMO Dani Cushion.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.