When you think about it, what’s cooler than being named to a Who’s Who list in the world of digital identities?
One World Identity, an independent identity research and strategy company that specializes in cybersecurity, digital commerce, and risk management, published its roster of the Top 100 Influencers in Identity this week. This year, 20 Finovate alums made the cut. The individual influencers – as well as the companies they work for- are listed below.
As with last year’s roster, this year’s list was compiled by taking nominations submitted via Twitter, LinkedIn, and at oneworldidentity.com. The staff and advisory council for One World Identity whittled down the initial list of more than 1,000 nominees to a final 100.
One World Identity began as a project from a group of Google employees back in 2015. The company was officially launched the following year as a way to help spur innovation and collaboration in the field of digital identities. Travis Jarae is founder and CEO.
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.
Mitekpartners with handwriting-based biometric authentication service Asignio to deliver IDaaS solution.
Avokaextends strategic partnership with Mitek for digital identity verification solutions.
ThreatMetrix and ID.mepartner to deliver ID verification for government and commercial digital services.
Ledgerpartners with Intel to boost blockchain app security.
BioCatchto power behavioral biometrics for Samsung SDS America.
SecureKeycollaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
Mobile capture and identity solutions company Mitek Systemsscored a win for its identity verification arm this week. The company has acquired Barcelona-based ICAR for $15 million (€12.75 million).
In addition to strengthening Mitek’s position in the consumer identity and access management market, the move is expected to bolster the company’s stance overall in the industry. The acquisition will enable Mitek to offer extensive identity document coverage in North America, Europe, and Latin America and will increase Mitek’s capabilities with several new factors of authentication. Additionally, Mitek can now enable customer onboarding and authentication on both web and mobile interfaces.
“The technical and cultural fit between ICAR and Mitek is a tremendous opportunity to maximize value for shareholders, while expanding our mission to bring the highest quality user experience and digital identity verification solutions to our customers globally,” said James B. DeBello, Chief Executive Officer of Mitek and Chairman of the Mitek Board of Directors.
ICAR was founded in 2002 and facilitates more than 20 million identity validations per year. The company is headquartered in Barcelona with offices in Madrid, São Paulo, and Mexico City. ICAR is a spin-off of Computer Vision Center of the Universitat Autónoma de Barcelona which, combined with researchers from Mitek Labs, will boost Mitek’s expertise in how machine learning and computer vision enhance digital identity verification.
At FinovateEurope 2017, ICAR’s CEO Xavier Codó and CMO Mariona Campmany demonstrated the company’s IDMobile solution that analyzes factors such as the consumer’s geolocation, email address, social networks and compares them with the user’s selfie and ID photo. Check out an interview we conducted with Campmany earlier this year.
Mitek recently demoed its MobileVerify solution at FinovateFall 2017. The company is publicly traded on NASDAQ under the ticker “MITK”. Mitek was founded in 1985 and is headquartered in San Diego, California. Last month, the company began leveraging near field communication (NFC) technology to add another factor of authentication by reading data held on RFID chips embedded into documents.
The fintech community has been eyeing the capabilities of near field communication (NFC) technology for awhile now. And though we’re still waiting for its successful application in payments, Mitek has proven that the enabling technology has a clear use case in mobile capture and identity verification. The California-based company announced today that it has added NFC capability to its Mobile Verify suite.
With this enhancement, Mobile Verify can read data held on radio-frequency identification (RFID) chips embedded in identity documents. By simply touching the RFID-powered document to their smartphone, users can easily transfer their biometric data to their phone for streamlined authentication. The NFC enhancement layers another factor of authentication by comparing three elements: 1) the user’s photograph stored on the chip, 2) the printed photo on the document, and 3) a live selfie taken by the user. The video below illustrates the user experience.
This development comes at a time when RFID-equipped documents are becoming more common. Almost 1 billion ePassports have been issued to date, and it is estimated that 3.6 billion people will have RFID-enabled ID cards by 2021. James DeBello, Mitek chairman and CEO said that fintech companies today need “modern methods for ensuring the identities of their users and verifying electronic ID documents.” DeBello added that the enhanced Mobile Verify product offers a “faster, easier and extremely secure digital identity verification process” for Mitek’s global user base.
Mitek’s solutions are embedded into the apps of 5,800 organizations with a combined user base of more than 80 million consumers. Mitek recently demoed at FinovateEurope 2017, where the company’s General Manager of Identity Solutions, Sarah Clark, and CMO, Kalle Marsal, showcased the company’s Mobile Verify solution that helps onboard customers without requiring them to visit a branch. In May, the company partnered with Trulioo to offer identity document verification with facial comparison for Trulioo’s Global Gateway API. This September, Mitek will be showcasing its newest technology at FinovateFall 2017 in New York (register today to save your spot). Check out a sneak peek of what the company plans to demo this fall.
Mitek’sMobile Verify verifies that the applicant’s ID document is authentic, then the applicant’s bank account is checked and insights are derived to provide valuable lending risk factors.
Provides a fully verified profile of applicant
Offers a quick and simple applicant experience
Enables lenders to verify applicants in real time
Why it’s a must-see
Mobile Verify’s multiple factors of identity verification and risk profiling transforms digital lending into a real-time experience for customer and institution.
Steven Craig, Director, Products & Experience – Identity
Steven directs products & user experience strategy for Mitek’s global identity business. He has over a decade of experience in FinTech and and holds an MBA from the Rady School of Management at UCSD. LinkedIn
Sarah Clark, VP, Product & Customer Success
Sarah combines a proven track record in driving highly complex products to market success with a passion for business growth and product strategy. She holds a BS in Mathematics from Duke University.