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.

 

Ledger Partners with Intel to Boost Blockchain App Security

Ledger, the Paris, France-based specialist in providing security for cryptocurrency and blockchain applications, has partnered with Intel to bring greater protection for users of digital wallets. Ledger will integrate its Blockchain Open Ledger Operating System (BOLOS) into Intel Software Guard Extensions (Intel SGX), with the joint solution initially being deployed with cryptocurrency software wallets Electrum and MyEtherWallet.

“We have seen an increasing demand from the market for secure solutions to manage crypto assets over the past couple of years,” Ledger CEO Eric Larchevêque said. He added that the collaboration with Intel “is a unique opportunity to keep providing our growing client base with innovative solutions for cryptocurrency and blockchain applications.”

Eric Larchevêque, Ledger CEO, demonstrating Ledger Blue at FinovateEurope 2016.

The solution is designed to help cryptocurrency owners safeguard their digital assets by protecting their private keys from unauthorized use. The collaboration between Ledger and Intel means that sensitive information will be stored within an Intel SGX enclave instead of on the application. In addition to stopping many software-based attacks, the solution provides users with a compromise between software wallets and hardware wallets. Back in May, Ledger announced a soft launch of its Ledger SGX Enclave, which provided hardware security features on Intel Skylake Core CPUs and in many ways previewed this week’s news.

Ledger designs and builds trusted hardware wallets and security devices for decentralized applications such as Bitcoin and the blockchain. Explaining the importance of cryptocurrency security during his FinovateEurope demo last year, Larchevêque put it bluntly “if your bitcoin are stolen, they are stolen. There is no bank. There is no insurance. Pretty much, it is game over.” He explained, “when you own bitcoin what you really own are private keys, a critical piece of information that you use to sign bitcoin transactions. So anyone with access to your private keys can at any time empty your account.” Comparing storing private keys on your computer or smartphone to displaying gold bars on your chimney, Larchevêque said that the hardware wallets his company has built – such as Ledger Nano and Ledger Blue – are specifically designed to solve this problem.

Founded in 2015 and headquartered in Paris, France, Ledger demonstrated its Ledger Blue solution at FinovateEurope 2016. Earlier this month, the company announced a partnership with Gemalto to provide security infrastructure for crypto asset applications. In August, Ledger announced support for Segwit (Segregated Witness) optimizations to scale Bitcoin. With clients in 165 countries, and more than 60 employees, and 300,000 Ledger wallets sold, the company has raised more than $10 million in funding and includes MAIF Avenir and XAnge among its investors.

Finovate Alumni News

On Finovate.com

  • Ledger Partners with Intel to Boost Blockchain App Security.
  • BioCatch to Power Behavioral Biometrics for Samsung SDS America.
  • Clinc Teams with Enacomm to Bring AI Chatbots to Small Banks and Credit Unions.
  • Finn.ai Powers Facebook Messenger’s First, Fully-Featured, AI-Powered, Virtual Banking Assistant.

Around the web

  • PayPal launches PayPal for Marketplaces
  • Forbes: Banks Wanted To Sink Kantox— Now They’re Vying For Its Technology
  • Zumigo’s  Zumigo Assure now prevents payment fraud even when card numbers are compromised.
  • SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
  • Finicity launches online platform that allows lenders to order, manage and monitor digital verification reports.
  • DAVO’s Sales Tax App, now available in the Square App Marketplace.
  • D3 Banking partners with P2P payments network, Zelle.
  • Behavioral biometric technology from BioCatch to be integrated into Samsung’s Nexsign platform.
  • Top Image Systems introduces its eFLOW AP solution for SAP.
  • Zafin offers its miRevenue platform as a cloud-based SaaS solution.
  • Scalable Capital provides BlackRock employees with streamlined access to its investment management services.

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

  • More than $1 billion raised by 31 Finovate alums in Q3 2017.
  • Worldpay Makes Strategic Contribution to Featurespace’s $21.9 Million Funding Round.
  • HooYu to Provide ID Confirmation for UK’s Cars-as-a-Service easyCar Club.

Around the web

  • Actiance helps FinServ companies meet toughest MiFID II compliance challenges.
  • Finews.Asia features Finantix’s AI solution for wealth management.
  • Gemalto and Ledger join forces to provide security infrastructure for cryptocurrency based activities.
  • The Charlotte Observer names Jack Henry & Associates to Top Workplaces list for third consecutive year.
  • Diebold Nixdorf expands managed services portfolio with new offerings.
  • Kasasa now 5th largest banking branch network

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

  • Enabled by AI, Self-Service Is the Future of Banking

Around the web

  • eWise offers free access to Categorization-as-a-Service (CaaS) API.
  • Mastercard to introduce contactless payments in Myanmar courtesy of partnership with Co-Operative Limited Bank (CB Bank).
  • Michigan-based Marshall Community Credit Union hires Insuritas.
  • Tesobe announcing APIDays Berlin on 7 & 8 November
  • Pascal Gauthier nominated President of cryptocurrency & blockchain security company Ledger
  • Hyundai Capital America joins the AutoGravity car shopping and financing platform
  • Coinbase announces Ethereum & Litecoin vaults
  • Pirean’s Access: One wins Cloud Security Product of the Year at the 2017 Computing Cloud Excellence Awards.

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

  • Klarna Celebrates Year-Over-Year Sales, Profit Gains.

Around the web

  • Fox Business highlights BILLSHARK in feature on “low-effort” savings strategies. See BILLSHARK at FinovateFall in New York next month.
  • Cardlytics to enable the new mobile rewards strategy from SunTrust.
  • Asseco signs four-year agreement to provide support for the electronic bookkeeping system for Poland’s Ministry of Justice. Join Asseco next month in New York for FinovateFall.
  • Zighra Receives Patent for Proprietary AI-Powered Continuous Authentication Platform.

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

  • AlphaPoint Launches Solution for Initial Coin Offerings
  • Finovate Alums Prepare for Citi Tech for Integrity Challenge Finals

Around the web

  • Bellingham, Washington-based Whatcom Educational Credit Union (WECU) to deploy core processing technology from Fiserv.
  • Digital Wealth Insights reviews Moven Enterprise.
  • Ledger announces XRP support on Nano S and Blue.
  • IDology named one of 2017’s Best and Brightest Companies to Work For in Atlanta.
  • Bankless Times: Lighter Capital an alternative for tech startups.
  • Barefoot Innovation Group features Bill Harris, CEO of Personal Capital.
  • Check Point’s SandBlast Mobile receives Miercom’s Certified Secure Award.

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

  • Lights! Camera! Action! Demo Videos from FinovateEurope Now Available.
  • BlueVine Lands $75 Million Line of Credit.

Around the web

  • Yoyo marks 10 millionth transaction milestone.
  • Jack Henry & Associates‘ Symitar division unveils its account opening self-service hub, SymApp.
  • New APIs from Citi to help clients access network with existing treasury applications. See Citi at FinDEVr New York in March.
  • Credit Union of Southern California ($1.2 billion) chooses Fiserv’s Architect digital banking platform.
  • SuiteBox introduces multi-signing of document functionality to its digital workspace technology platform.
  • Ledger releases the Nano S firmware 1.3.
  • Stoneham Bank to leverage Insuritas to launch insurance agency platform to drive fee income.
  • Report highlights Urban FT, Misys, Kony, Backbase, Infosys, Cachet Financial Solutions, and Nymbus, as key digital banking players.

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

  • Quantopian Receives Undisclosed Amount from Steve Cohen’s Point72

On FinDEVr.com

  • Venmo Enables Payments in Merchant Apps

Around the web

  • Kontomatik introduces Financial Health Indicator for small- and medium-sized lenders.
  • Venmo’s in-app payments technology emerges from beta.
  • Kantox processed $100 million in transactions in the six months since the debut of its API.
  • Kony launches MobileFabric, which features a model-driven approach to mobile app development using microservices.
  • American Banker’s Association features results from banks using Fiserv, Buzz Points and Larky for customer loyalty and rewards.

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.

 

Ledger Launches Newest Hardware Wallet: Nano S

Screen Shot 2016-06-20 at 7.40.24 AM

Blockchain hardware-solutions company Ledger announced a new hardware wallet today. A successor to the HW.1 and Unplugged wallets, Ledger’s Nano S differentiates itself by offering a built-in OLED display and by adding protection for Ethereum fund transfers.

The Paris-based company created the Nano S after spending 18 months improving the Nano, Ledger’s best-selling product. It connects to any computer through USB—allowing users to send and receive payments, check their accounts, manage multiple addresses—and even supports the FIDO Universal Second Factor standard.

Screen Shot 2016-06-20 at 9.53.48 AMThe built-in OLED display on the Nano S allows the user to double-check and confirm each transaction by tapping the buttons on the device. While the Nano S includes built-in apps for both Bitcoin and Ethereum, it also supports other blockchain-based currencies.

Priced at 58€ ($66), the Nano S comes with a set of Chrome applications to help users manage their wallets. It is available for pre-order today and will be shipping at the end of July.

At FinovateEurope 2016 Ledger CEO Eric Larchevêque debuted Ledger Blue, a touch-screen smartcard for developers. Ledger Blue offers a second display that connects to devices via BLE, NFC, or USB and thwarts malware attacks by delivering the correct payment address.