How they describe themselves: Mistral Mobile solutions unleash mobile devices for secure use in banking, payments and commerce. Mistral Mobile’s market-proven mobile front-end solutions are used by retail, issuing and acquiring banks and other financial service providers to offer secure and flexible solutions to rapidly introduce mobile payments, mobile banking and mobile authentication services independent of mobile operators and for all mobile phones, from smart to simple phones. Mistral has two solution lines: 1) Money Mobility Suite™: The only bank-centric, telco & data independent, white-label mobile platform to reach the next billion consumers in the growth markets. 2) m-Aegis™: The only comprehensive, multi-factor, telco-independent authentication and security solution for mobile applications and OTP replacement. Mistral Mobile was founded by former Nokia Money leaders who believe in both the commercial and socio-economic benefits of mobile financial services globally. Mistral Mobile is privately held with offices in New York City, Finland and India.
How they describe their product/innovation: m-Aegis™ is the only comprehensive, multi-factor, telco-independent authentication and security solution for mobile applications and OTP replacement. Mobile banking and payments are exploding: Juniper Research predicts there will be more than 1B mobile banking users worldwide by 2017. Simultaneously, the roadblocks to mobile payments are disappearing with solutions such as host-card emulation and secure-elements, clearing the way for sustained dramatic growth. However, with opportunity come risks. With increased volumes, mobile initiated transactions become lucrative targets for hacking and fraud. According to a study by RiskIQ, more than 11% of all Android banking applications are suspicious and potentially contain malware. Mistral Mobile’s m-Aegis™ Mobile Integrity provides a comprehensive solution combining multiple factors such as device fingerprinting, SIM validation and usage data to maximize the integrity and creating a high-confidence, no-gap verification model without compromising the user experience.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed