Vera for Mail Delivers Enterprise-Grade Encryption for Email

Security specialist Vera unveiled its latest solution for sharing and securing enterprise data today: Vera for Mail. Now generally available, the new technology protects confidential correspondence, classifies messages, and dynamically changes access rights in real-time. Vera for Mail enables automatic encryption of email messages and attachments, providing better control over sensitive information.

“The significant rise in data breaches from compromised email is changing how companies think about protecting their critical communications,” Vera CTO and co-founder Prakash Linga said in a statement. Warning that a lack of control over sensitive correspondence means “losing the battle” against cybercrime, Linga added “by leveraging the same encryption, classification, rights management, and tracking that powers our file security products, we can achieve what other solutions can’t: simple, data-centric security for email that just works.”

Vera CEO and co-founder Ajay Arora demonstrating the company’s data protection technology at FinovateSpring 2016.

Launched as a private beta this spring, Vera for Mail gives workers, contractors, partners, and third parties the ability to control sensitive information after it leaves the organization. The technology provides complete visibility into all email access attempts and enables the user to manage and track access and sharing. Additionally, the solution allows users to dynamically watermark emails, restrict ability to take screenshots, and limit or prevent email forwarding. Vera for Mail can also be automated to provide security, manage access, and track sharing for both internal and external email correspondence in complex enterprises.

Announcing the general availability of the technology at the Vera blog, VP of Marketing Grant Shirk underscored the importance of a security solution that does not compromise the user experience – “Truly, this is where prior attempts at making email security work in the enterprise have failed,” he noted. Instead, Vera for Mail enables “securing an email … as easy as pressing send” through a combination of dynamic data protection and “an experience purpose-built for collaboration,” Shirk wrote. Vera for Mail works with popular email clients such as Outlook and Apple Mail, and can also be deployed with browser-based email clients like Gmail.

Vera made its Finovate debut last year, demonstrating its security platform at FinovateSpring 2016. Last month, the company announced that it would provide data security services for General Electric. In May, Vera reported that it would provide support for multi-factor authentication solutions from a trio of companies including fellow Finovate alum, Twilio. Founded in 2014 and headquartered in Palo Alto, California, Vera has raised $50 million in funding, including a $15 million strategic investment earlier this year. Hasso Plattner Ventures, Sutter Hill Ventures, and Battery Ventures are among the company’s investors.

Finovate Alumni News

On Finovate.com

  • Vera for Mail Delivers Enterprise-Grade Encryption for Email.
  • Clinc Goes Global with Deployments in Six Countries, Signs Deal with Turkey’s Biggest Private Bank.

Around the web

  • IBERIABANK selects nCino to Support Growth and Enhance Client Experience
  • BlueVine wins Best Business Finance Provider, North America (Winner) in trade finance global awards.
  • Zighra receives second U.S. patent for passive authentication system.
  • Q2 announces financial services and technology veteran Christine Petersen as Chief Revenue 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.

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.

 

Vera to Provide Data Security Services for GE

Data security specialist Vera announced a massive new client today. The California-based company will offer its data security services to help General Electric (GE) protect product designs, intellectual property, and proprietary data.

Specifically, Vera is responsible for helping GE automatically secure intellectual property and control how third parties use and access sensitive documents. Vera will also use its frictionless, scalable experience to help GE protect confidential data and email, prevent unwanted sharing, and dynamically revoke access to content when necessary.

Nasrin Rezai, VP and global CIO and product security officer at GE, described the company’s data as “critical” to its competitive advantage. Rezai explained, “When product designs and specifications are shared without continuous protection as part of our supply chain collaboration and technical processes, they’re susceptible to theft or illegitimate use in today’s digital economy. Vera addresses this problem because we know even when shared externally, these files are protected at the source.”

Ajay Arora, CEO and co-founder of Vera said it is an “honor” to help GE protect its intellectual property. Arora continued, “GE continues to be one of the most respected companies in the world making it an unbelievable privilege to win the support of one of the bedrocks of industry of the last two centuries. With GE fully embracing a data-centric approach to cybersecurity, we’ve entered a new and exciting era where the old paradigm of perimeter-based security is no longer the unquestioned norm.”

Vera’s CEO & Co-Founder, Ajay Arora and Sr. Director of Product Marketing,Grant Shirk demoing at FinovateSpring 2016

Founded in 2014, Vera showcased its security solution at FinovateSpring 2016. Since that time, the company has unveiled Vera for Mail, received $15 million in funding, and most recently received the CyberSecurity Breakthrough Award for Enterprise Encryption Solution of the Year. The company has raised a total of $50 million.

Finovate Alumni News

On Finovate.com

  • Stockpile Raises $30 Million to Boost Millennial Stock Ownership.
  • Vera to Provide Data Security Services for GE

Around the web

  • Meniga expands global footprint with new office opening in Poland
  • Mediterranean Bank Goes Live With Infosys Finacle Lending Solution
  • Revolut expands services with cell phone insurance in the U.K.
  • Entrust Datacard joins the Industrial Internet Consortium
  • NYMBUS Introduces Next-Generation Digital Platform For Internet And Mobile Banking
  • CardFlight partners with Dynamics Payments to help businesses affected by Hurricane Maria by waiving monthly and setup fees for SwipeSimple.

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

  • Mexican Payment Processor Chooses Fraud Fighting Technology from Featurespace.
  • Ripple Unveils Expanded Suite of Offerings

Around the web

  • BBVA announces record product sales through digital channels in June.
  • Tennis star Andy Murray revealed to be among 40,000 Revolut users pre-registered for the company’s crowdfunding initiative.
  • DefenseStorm hires Bob Thibodeaux as Chief Information Security Officer.
  • Modo Payments goes dark in Monday “Unnouncement.” Affirms plans to refocus on payments after hiatus.
  • Mashreq deploys Vipera for mobile wallet.
  • NICE inContact introduces CXone cloud customer experience 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

  • Signicat Launches Mobile Authentication.
  • 3 Steps to Take During the Countdown to GDPR and PSD2.

On FinDEVr.com

Around the web

  • NuCypher earns finalist spot in BBVA Open Talent 2017. Join NuCypher at FinDEVr London, Jun 12 & 13.
  • TSYS enables tokenization across its North American commercial card platforms.
  • Catholic Vantage Financial ($98M) hires Insuritas to deploy and manage their insurance agency solution.
  • AuthenticID enhances CatfishAIR Identity Platform to support real-time identity authorization for CNP transactions.
  • Vera announces support for multi-factor authentication solutions from Duo Security, RSA SecureID, and fellow Finovate alum, Twilio.
  • Amsterdam Trade Bank (ATB) to streamline banking, treasury, and finance operations in partnership with Misys.
  • Cisco and IBM team up on security.
  • Glenmede taps IHS Markit for data management.
  • GMC Software launches Business Partner Track for Partner Advantage Program
  • Expensify exceeds 35,000 global customers, adding Xero, HappyFresh, GoCardless, and Adroll as clients
  • Jumio announces expansion into new Shoreditch U.K. headquarters.
  • Steve Lewczyk joins Trizic as new Chief Revenue 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.

Vera Announces $15 Million Strategic Investment from Hasso Plattner

Data security specialist  Vera announced a strategic investment of $15 million today. The funding was led by Hasso Plattner Ventures (HP-Ventures), and featured the participation of Amplify Partners, Battery Ventures, Clear Venture Partners, Leslie Ventures, and Sutter Hill Ventures. The company’s total capital is now more than $50 million. Ajay Arora, CEO and co-founder of Vera said the investment will help fuel expansion particularly in Europe where new regulations on data security, specifically the General Data Protection Regulation (GDPR), are pending.

GDPR was enacted just over a year ago by the European Parliament and Council in an effort to improve data security for individuals in the EU. The scheduled implementation date of the GDPR is less than a month away on May 25th and observers like Gartner are warning that less than half of companies are will be fully compliant by the end of 2018, much less the end of May. “The GDPR will affect not only EU-based organizations, but many data controllers and processors outside the EU as well,” Gartner research director, Bart Willemsen said. He added that both the threat of “hefty fines” and what he called “the increasingly empowered position of individual data subjects” are pressuring companies to do a better job of protecting personal data.

Pictured: Vera CEO and co-founder Ajay Arora demonstrating Vera Security at FinovateSpring 2016.

And this is where companies like Vera come in. Vera’s technology innovates by securing the data itself. From files and Word documents to images and video, Vera enables companies to control access and the ability to manipulate data after it has left its traditional perimeter of control. During the company’s live demonstration at FinovateSpring, Vera’s Grant Shirk used a single click to secure a word document and an Excel spreadsheet after attaching them to an email. In addition to quickly establishing a variety of access permissions, Vera’s technology also enables digital watermarking, restrictions on the ability to edit (including cut and paste), and provides auditing and tracking.

Underscoring Vera’s uniqueness as its first cybersecurity investment, HP-Ventures General Partner, Yair Re’em credited the company’s “incredible momentum and hypergrowth in markets large and small” as well as Vera’s ability to “help protect and control data after a breach has happened.” He said: “The crumbling state of enterprise security has clearly demonstrated the need for a fundamental paradigm shift in cybersecurity.” Chris Rust, Clear Venture Partners co-founder and General Partner, added that Vera was “the driving force behind a positive and profound shift away from perimeter-based security and towards a more flexible and reliable data-centric model.” Rust will join Vera’s board of directors as part of the strategic investment.

Founded in 2014 and headquartered in Palo Alto, California, Vera demonstrated its technology at FinovateSpring 2016. Earlier this year, the company launched its enterprise communications security solution, Vera for Mail. Last fall, Vera announced that Logica Capital Advisors had selected them to manage business information and internal collaboration files. The company has produced more than 4x revenue growth since launching publicly in 2015 and grown its Fortune 100 customer base by 5x. Vera won the 2017 SC Trust Award Winner for Best Cloud Computing Security in February and, in March, the company was named to CRN’s annual Security 100 list.

Finovate Alumni News

On Finovate.com

  • Vera Announces $15 Million Strategic Investment from Hasso Plattner.
  • Digiliti Money Celebrates Rebrand by Ringing NASDAQ Closing Bell.

Around the web

  • San Francisco Business Times names Blackhawk Network CEO and President, Talbott Roche, an Inspire Award recipient.
  • Baker Hill NextGen to power business intelligence for iQ Credit Union.
  • CrossFirst Bank to leverage nCino’s cloud banking technology.
  • Geezeo launches digital reputation management solution.
  • Kensho launches open source Python package aims to make app configuration easier.
  • Empyr introduces CPR: Cost-Per-Revenue O2O Performance Marketing.
  • Thomson Reuters and S&P Global enter strategic transcript data agreement.
  • Overbond adds swap pricing calculator to its corporate bond intelligence suite.
  • FinovateSpring Best of Show winner Neener Analytics earns finalist spot in Citi Tech for Integrity Challenge.

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.

You’ve Got Mail: Vera Launches Security Solution for Enterprise Communications

VeraSecurity_homepage_February2017

With Vera for Mail, Palo Alto-based data security specialist Vera gives businesses the ability to protect and audit corporate communications, restrict sharing, and revoke access to sent emails. “With Vera for Mail,” said Vera co-founder and CEO Ajay Arora, “the days of email leaks are finally over.”

Vera for Mail enables enterprise customers to take advantage of the convenience of email while enjoying the seamless protection of Vera’s data-centric security platform. From a single console, administrators have complete control and “360 degree visibility” over the contents and attachments in enterprise email communications even after emails have been downloaded, forwarded, or accessed offline. And both email senders and recipients can use the technology without having to rely on key exchanges or proprietary plug-ins.

Vera_stage_FinovateSpring2016

Pictured: Vera co-founder and CEO Ajay Arora demonstrating Vera Security at FinovateSpring 2016.

Ajay Arora, Vera co-founder and CEO referred to Vera for Mail as “the next stage in our long-term quest to protect enterprise data through the last mile, secure every collaboration channel, and ensure the confidentiality and integrity of our customers’ most valuable data.” Calling data encryption, access, and auditing “an absolute necessity” in an increasingly collaborative corporate environment, Arora pointed out that other solutions often fail due to being too complicated or not “foolproof enough” to be relied on for everyday use in the enterprise. In its press release, the company noted a 2017 Cybersecurity Report from Cisco that said that while email continues to be “the primary tool” for transmitting and sharing sensitive data, only 12% of cybersecurity professionals queried said they trusted their firm’s current email security strategy.

Founded in 2014 and headquartered in Palo Alto, California, Vera demonstrated its technology at FinovateSpring 2016. The company’s solutions – including Vera for Files and Vera Platform – are used by more than 300,000 professionals across the Fortune 100, and Vera notes that it actively secures more than 10 million files for its corporate clients.

A finalist in the 2016 RSA Innovation Sandbox Competition in the “Most Innovative Startup” category, and recognized as a SINET 16 winner by Security Innovation Network, Vera was honored as a 2017 SC Magazine Trust Award Finalist for Cloud Computing Security in January. The company has raised $35 million in funding, with its most recent investment a $21 million Series B completed in the spring of 2016.