Finovate Alumni News

Around the web

  • TechCrunch talks with HackerOne CEO Marten Mickos on bug bounties and the value of white hat hackers.
  • Cardlytics bolsters executive ranks with pair of new group presidents: Randall Beard and Shannon Johnson.
  • American Banker interviews new SoFi CEO Anthony Neto.
  • First Data goes live with Clover Mini and Clover Flex smart terminals in Germany and Austria.
  • Chetu earns Best Custom Business Software Developer Award from US Business News.
  • Ivan Nabalon, CEO and founder of Best of Show winning Electronic IDentification discusses the mainstream potential for cryptocurrencies.
  • ChartIQ teams up with Trading Central to provide technical insights and tool to traders.
  • Blockchain healthcare platform HealthCombix partners with NuCypher.

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.

Kore.ai Unveils New Bots Platform, Adds Former Citi CIO as Strategic Advisor

Kore.ai Unveils New Bots Platform, Adds Former Citi CIO as Strategic Advisor

Developer of conversational AI solutions for the enterprise, Kore.ai has launched the latest version of its Bots Platform. Version 6.1 not only enables enterprises to build high-value chatbot solutions faster and more efficiently, but also gives companies the ability to better understand how their chatbots are performing compared to user expectations.

The new platform includes usability enhancements such as a collapsible sidebar navigation and revised layouts. Version 6.1 also provides better bot insights by analyzing how user utterances are processed by the platform’s natural language processing engine and graphically displays how these utterances are classified against various bot tasks. Additionally, the platform enables developers to combine individual bots into a multi-purpose, branded universal bot or VPA (virtual personal assistant) that can communicate with many bots on behalf of an individual. Other features include smart alerts, IVR voice support, new channels including telegram and live person, and a bot sharing facility across users of different domains.

“Our promise has always been to design an end-to-end platform, running in the cloud or on-prem, creating secure, smart, conversational and quick-to-market bots for enterprises,” Raj Koneru, CEO and founder of Kore.ai said in a statement. “We’ve bolstered our Kore Bots Platform with rich new capabilities for enterprises, and are also bringing in fresh thinking into how AI-powered conversational solutions could be engineered better for specific industries.

This “fresh thinking” comes in the form of Devendra Kumar Sharma, former CIO of Citigroup International, who has joined Kore.ai as a strategic advisor and will, in the words of Koneru, “advise us on how to create strategic digital value through great customer engagement.”

Sharma praised the company’s “powerful and unique combination” of growth potential and what he called “strategic relevance in an emerging technology space.” With almost three decades of experience in working with consumer banking technology platforms and operations capabilities, Sharma led initiatives on core operating platforms, digital transformation, and more while working at Citigroup International. He holds a degree in Electrical Engineering from the Indian Institute of Technology, Delhi and an MBA in Information Systems and Finance from the Indian Institute of Management, Calcutta.

Headquartered in Orlando, Florida, and founded in 2013, Kore.ai demonstrated its Bots Platform at FinovateFall 2016. With strategic partners ranging from Facebook to SAP to Cisco, Kore.ai has developed more than 150 pre-built bots that use machine learning, natural language processing, AI, and speech recognition to provide actionable, “human-like” communications to the interactions between businesses and their customers, employees, systems, and things.

Finovate Alumni News

Around the web

  • Opentech ranked third in the Mastercard’s worldwide Directory of Digital Wallet providers. Come see Opentech’s live demo at FinovateEurope next week.
  • Yoyo named Best Mobile Payment Solution at MPE Awards. Come see Yoyo’s demo at FinovateEurope next week in London.
  • CapitaWorld launches smart loan disintermediation ecosystem for micro, small, and medium (MSM) enterprises.
  • Unison launches 5% down payment program in conjunction with an 80% LTV mortgage.
  • Sberbank adds Google Pay and Samsung Pay services for the customers using its business cards.
  • Railsbank partners with Carta Worldwide.
  • Lendio Franchise Announced in Clemson Region.

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.

Signifyd Partners with Corra to Provide Guaranteed Fraud Protection to E-commerce Merchants

Signifyd Partners with Corra to Provide Guaranteed Fraud Protection to E-commerce Merchants

Fraud prevention specialist Signifyd announced a strategic partnership with e-commerce website designer Corra that will bring guaranteed fraud prevention technology to Corra’s high-end enterprise retail customers.

“Corra embraces the same deep commitment to merchants that Signifyd does,” Lee Hadsock, head of partnerships for Signifyd, said. “We believe in doing what needs to be done to ensure that merchants are successful – and to provide fraud-protection services, technology and tools that mean they don’t have to be distracted by issues and operations that are outside the core of their businesses.”

The partnership, announced at the eTail West conference, will give Corra clients both full financial protection from fraud costs, as well as the technology merchants need to establish the legitimacy of customer orders within milliseconds. Corra is a digital agency that builds commerce experiences for fashion, beauty, and lifestyle brands around the world. Signifyd’s partnership with the company is in some ways an extension of the relationship the company developed with Magento Commerce last fall.  The press release accompanying the announcement noted that both companies had been honored by Magento in 2016 – with Corra being named Magento Omnichannel Partner of the Year and Signifyd earning plaudits as Magento Best New Technology Partner of the Year.

Director of Global Strategic Alliances for Corra, Martina England praised Signifyd as an “enterprise-ready partner that can help us help our customers grow and succeed.” England referred specifically to the fraud fighter’s technology and domain expertise, as well as the firm’s sizable customer roster and history of success in supporting e-commerce. “We examined the full complement of guaranteed fraud protection players and found that Signifyd, far-and-away, met the needs of our clients,” England said.

Leveraging big data, machine learning, and human intelligence, Signifyd’s technology protects more than 5,000 online merchants and more than $37 billion worth of products against fraud. Available as an e-commerce platform plug-in as well as via an API, Signifyd automates back office operations including auto-fulfill and auto-cancel on orders, and makes it easy for merchants to get paid for chargebacks within 48 hours. Additionally, Signifyd offers a 100% financial guarantee in the event that an order approved by Signifyd’s technology proves ultimately to be fraudulent.

Founded in 2011 and headquartered in Palo Alto, California, Signifyd demonstrated its Guaranteed Payments solution at FinovateSpring 2013. Earlier this month, the company’s co-founder and CEO, Rajesh Ramanand, was named to One World Identity’s Top 100 Influencer’s list (along with 19 other Finovate alums). Signifyd partnered with Authorize.Net to bring its fraud protection technology to that firm’s U.S.-based e-commerce merchants last summer, less than one month after being added to CB Insights’ Fintech 250 list. The company has raised more than $89 million in total capital, including picking up $56 million in funding last year in a Series C round led by Bain Capital Ventures.

Finovate Alumni News

On Finovate.com

  • Signifyd Partners with Corra to Provide Guaranteed Fraud Protection for E-Commerce Merchants.

Around the web

  • Estonian financial group LHV to leverage technology from FICO to fight money laundering.
  • Klarna announces double-digit sales growth thanks to more retailers using the company’s solutions.
  • CNBC quotes MaxMyInterest head of business development and partnerships Michael Halloran on cash strategies for investors during times of market volatility.
  • Dynamics unveils enhanced functionality for its connected Wallet Card. See its latest demo at FinovateEurope next week.
  • TSYS Extends Existing Agreement with Capital One UK.
  • Mastercard to use Facebook Messenger to help small businesses in Africa and Asia drive mobile and electronic payments acceptance.
  • Worldline teams with Total to launch TOTAL eWallet.
  • FutureTech Podcast hosts Capitalise CEO Shahar Rabin on using natural language to automate trading strategies.
  • NopSec Awarded Most Innovative Cybersecurity Company 2018.

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.

FinovateMiddleEast Best of Show Winners Announced!

FinovateMiddleEast Best of Show Winners Announced!

 

The votes have been counted and the winners of the first FinovateMiddleEast Best of Show competition have been selected.

Congratulations are due to all of the companies that presented their latest fintech innovations live on stage this week. From wealth management and lending to innovative approaches to making payments faster, more efficient, and more secure, what makes Finovate such a great opportunity for fintech professionals is the breadth and variety of technologies on display.

And while we love seeing which companies – new or old, local or global – are the ones that have developed solutions that capture the imagination of our knowledgeable fintech audience, we always maintain that the value of our Finovate demos lies in the diversity of approaches taken by different creative, insightful entrepreneurs and engineers solving real world problems for individuals, consumers, SMEs, corporations, and even governments all over the globe.

That said, there are always a handful of demos that stand out to our attendees – and these are the innovations we highlight with our Best of Show awards. So with no further ado, let’s take a look at the companies taking home Best of Show trophies for their demos this week at FinovateMiddleEast 2018 (in alphabetic order):

APPICS for its next-generation, rewards-based, social media app that enables people to connect with one another around the globe and leverages blockchain technology to turn social media “likes” into currency. Video.

Electronic IDentification for its VideoID solution which combines video streaming, advanced machine learning, and AI to remotely identify customers in seconds from any device and over any channel. Video.

 

 

Ondot Systems for its card control technology that empowers card holders to “remote control” their credit and debit cards from a smartphone app. Video.

Our first foray to the Middle East has been a huge success for us. We’ve both seen and learned a great deal about the kind of fintech innovations that are making it easier for those living in the MENA region to have safer, more transparent, and – hopefully – more prosperous financial lives.

We want to thank our sponsors and partners – especially the UAE Ministry of Finance, which was indispensable in helping make FinovateMiddleEast happen. We had a wonderful time bringing our fintech conference to Dubai for the first time and are looking forward to coming back soon. Remember to follow us on Twitter @Finovate, as well as here on the Finovate blog to keep up with the latest in fintech news from the Middle East and elsewhere around the world.

To see all of the demo videos from FinovateMiddleEast, visit our video archives.


Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The three companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 through 2017 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017
FinovateSpring 2017
FinovateFall 2017
FinovateAsia 2017

Welcome to Day Two of FinovateMiddleEast 2018

Welcome to Day Two of FinovateMiddleEast 2018

Pictured: Raja Al Mazrouei, Executive Vice President, Fintech Hive, Dubai International Financial Centre

Day One of FinovateMiddleEast is in the books – which means there is one more day of our fintech conference left to go. And while Day Two will also feature fintech insiders and thought leaders discussing issues like financial inclusion, artificial intelligence, the blockchain, and fintech regulation, the second day of FinovateMiddleEast will swap live demos with emerging and incumbent fintech players for an Accelerator Showcase.

Our special spotlight on regional accelerators and incubators will feature short, 3-minute pitches from some of MENA’s youngest and most ambitious fintech startups, and will reveal the important role incubators and accelerators play in encouraging and supporting fintech innovation. If you are interested in what the future of fintech in the Middle East and North Africa looks like, our accelerator showcase is virtually a front row seat.

Here’s a look at today’s agenda. For more details, visit our FinovateMiddleEast Day Two agenda page. And remember the Best of Show awards presentation will be held this afternoon.

8:00 – 9:00: Registration, Breakfast and Networking

9:00 – 9:05: Chairperson’s Opening Remarks

9:05 – 9:45: The Future of Financial Services – AI and the Use of Blockchain Globally

9:45 – 10:05: Update on Fintech Regulation

10:05 – 10:25: Fintech Unicorn Interview

10:25 – 11:20: Myth Versus Reality: Banks’ Perspectives

11:20 – 11:50: Morning Coffee and Networking

11:50 – 12:40: Panel Discussion: Financial Inclusion in the Middle East

12:40 – 13:00: Unicorn Interview

13:00 – 14:00: Lunch and Networking

14:00 – 14:20: Fintech Interview

14:20 – 15:10: Accelerator Showcase

15:10 – 15:20: Day One Revisit – What did the banks gain? What did the fintech gain? What do investors think?

15:20 – 15:30: Chairperson’s Closing Remarks and Summary

Welcome to Day One of FinovateMiddleEast 2018

Welcome to Day One of FinovateMiddleEast 2018

FinovateMiddleEast has arrived in Dubai. Day One of our two-day fintech conference begins today, Monday, February 26. And after an afternoon and evening of practice runs and sound checks, our demoing companies are ready to introduce their latest fintech innovations to the world.

In addition to a slate of 14 fintech demos, Day One will also feature an interesting variety of keynote addresses and panel discussions from some of the region’s most engaged and knowledgable fintech business people, thought leaders, and investors. We’ve published an outline of today’s schedule below – including our dual track afternoon sessions on banking and payments on one side, and blockchain, cryptocurrencies, and AI on the other. So whether you like your fintech old school or new school, FinovateMiddleEast’s Afternoon Streams on Day One have you covered!

Tickets are still available. So if you’re in Dubai and interested in meeting some of the people who are helping build the future of fintech in MENA, FinovateMiddleEast on Monday and Tuesday is the place to be.

Here’s the schedule of events for today.

8:00  – 8:30: Registration, Breakfast and Networking

8:30 – 8:35: Chairperson’s Remarks

8:35  – 9:35: Demo Session 1 featuring

9:35 – 9:40: Panel discussion: Starter for one minute – What does a fintech want? What does a bank want? What does the investor think?

9:40 – 10:20: Keynote: What can digital bankers learn from the top innovators?

10:20 – 10:30: United Arab Emirates’ Ministry of Finance address and presentation on the fintech vision.

10:30 – 10:50: Embracing fintech innovation – past, present, and future

10:50 – 11:10: Bank CEO Panel: Driving innovation forward and the fintech global vision

11:10 – 11:40:  Morning Coffee Break and Networking

11:40 – 11:55: Introduction from the FinTech Hive at DIFC

11:55 -12:25:   Chatham House Rule Panel Discussion on Fintech regulation

12:25 – 13:15: Demo Session 2 featuring:

13:15 – 14:15: Lunch and Networking Speaker-hosted topic roundtables

Afternoon Streams: Banking and Payments / Blockchain, Cryptocurrencies, and AI

14:15 – 15:00: Panel Discussions: How far can we go with big wallets? / Results of an Interbank Blockchain Pilot

15:00 – 15:20: Panel Discussions: What do we mean by innovation? / Blockchain Approaches – Beyond UAE

15:20 – 15:40: Address: Discussing the fintech strategies of Indian banks / What’s Happening Now and What’s Next for AI?

15:40 – 16:10: Afternoon Coffee Break and Networking

16:10 – 16:40: Big bank fireside chat

16:40 – 17:10: Demo Session 3 featuring

17:10 – 18:10: Networking Reception, Topic Led Roundtables, Best of Show Awards Ceremony

All demo videos will be available for free in a few weeks in our video archives.

GreenKey Teams Up with IPC to Develop AI-Based Speech Recognition Solution

GreenKey Teams Up with IPC to Develop AI-Based Speech Recognition Solution

GreenKey Technologies, an AI-powered voice collaboration platform for financial markets, has formed a partnership with IPC to develop a solution that will convert real-time voice into useable data for financial market participants. The partnership combines IPC’s expertise in trading communications – and its cloud financial ecosystem of more than 6,000 financial market players – with the machine learning technologies of GreenKey.

Specifically, the new solution will automatically transcribe spoken conversations, extracting quotes and trades from verbal conversations by leveraging GreenKey’s patented natural language processing libraries. The new solution also will extract key terms, phrases, speaker identities as well as sentiment in order to provide accurate summaries of conversations.

Nader Shwayhat, CEO of GreenKey since March of last year, said that the agreement combined the efforts of two of the industry’s most innovative companies working in the voice software/integrated speech recognition space. “IPC and GreenKey are leading the industry into a new era of voice-driven workflows and analytics,” Shwayhat said. “We are thrilled to be working with the outstanding IPC organization and look forward to transforming the way capital markets participants manage their voice workflows.” Speaking for IPC, SVP for Product and Customer Success Don Henderson added that the announcement was “powerful news for the market.”

GreenKey and IPC have been collaborating on the new, voice-to-data solution for a year. The goal is a technology that will make it easy for IPC customers to “harvest” their audio streams and structured textual data to improve workflows for the front-, middle-, and back-office. Use cases range from integrating voice streams into compliance, surveillance, and business analytics systems to voice-populating trade tickets, capturing in-stream orders and quotes, and integrating call transcripts with CRM systems.

GreenKey Technologies participated in our developer’s conference, FinDEVr New York 2016, where members from the company’s engineering team demonstrated GreenKey’s voice workspace with biometric login, video call, instant messaging, and more. Founded in 2014 and headquartered in Chicago, Illinois, GreenKey Technologies released its voice API via OpenFin’s plug-in architecture earlier this month. The company finished 2017 by joining Symphony Software Foundation and, earlier in the year, won a patent for its speech-to-text technology and announced a partnership with voice recording technology specialist Red Box Recorders.

See Tomorrow’s Fintech Today at FinovateMiddleEast 2018

See Tomorrow’s Fintech Today at FinovateMiddleEast 2018

FinovateMiddleEast is just one day away. For the first time, Finovate is bringing its fintech conference of live demos and insightful keynotes and panel discussions to Dubai, the largest city in the UAE., to explore and learn about some of the exciting developments in fintech that are taking place in the Middle East and North Africa.

The presenters on stage are only part of what makes Finovate events special. Our conference attendees – hailing from all over the world – are a diverse collection of professionals from finance, technology, the investment world, and the fintech media. And it is often the case that the introductions made and business cards exchanged between attendees during our networking opportunities prove to be as valuable as the fintech demos and keynote addresses on stage. Take a look, for example, at the titles of our attendees for FinovateMiddleEast that we’ve aggregated into a word cloud below:

From C-level executives like CEOs, CTOs, and CIOs to heads of digital banking, cloud platforms, software development and more, Finovate audiences are a great source of fintech experience and insight in and of themselves. This is one of the reasons why we ensure that our attendees have ample opportunity to mix, mingle, and network both at the beginning and end of each conference day.

So with FinovateMiddleEast kicking off tomorrow, here are a few last minute, need-to-knows to help you make the most of your Finovate experience.

The What

FinovateMiddleEast is a two-day conference of live fintech demonstrations, keynote addresses, panel discussions, and peer networking opportunities. The event is Finovate’s first in the Middle East, and is being produced with the exclusive strategic partnership of the UAE Ministry of Finance.

The When

FinovateMiddleEast takes place on Monday, the 26th of February, and Tuesday, the 27th. Registration begins at 8am on both days. The program on Monday morning will start at 8:30 am. On Tuesday, the program will begin at 9am.

The Where

FinovateMiddleEast will be held at the Madinat Jumeirah Conference and Events Centre in Dubai, UAE. The conference and events centre is part of the Madinat Jumeirah Resort which consists of a trio of grand hotels: Jumeirah Al Qasr, Jumeirah Mina A’Salam, and Jumeirah Al Naseem.

The How

Join us in Dubai for FinovateMiddleEast by visiting our registration page and picking up your ticket. There are group discounts available, as well as discounts for members of government and regulatory entities. Check out our registration page for more information.

Also be sure to download the Finovate app – available at both the Apple Store and at Google Play. Search for “Finovate” and use the same email you used to register for FinovateMiddleEast as your login. If you are a first-time user of our app, the password is “finovate”. In the app you will find more information about our presenters, partners, and sponsors; network with your fellow FinovateMiddleEast attendees, and – importantly – vote for your favorite fintech demos in our Best of Show competition.

There is also a desktop version of the event app available at finovatemiddleeast2018.zerista.com.

The Why

FinovateMiddleEast is a great way to learn about the growing fintech scene in the Middle East and North Africa. Our live fintech demos provide an insight into the kind of challenges fintech companies operating in MENA are solving every day. Our keynote speakers and panel discussions provide the context to understand how these solutions are improving the financial lives of the more than 380 million people living in the region. For more background on fintech in MENA, a few of our thought pieces are listed below:

We are very excited to bring our fintech conference to the UAE and hope you will join us – either live here in Dubai or by following along online via our coverage on Twitter @Finovate.


The United Arab Emirates Ministry of Finance is the Exclusive Strategic Partner of FinovateMiddleEast

FinovateMiddleEast sponsors also include UAE ExchangeProfile SoftwaresimilityTemenosBlock GeminiLoxon SolutionsOrtec FinancePlug and Play Abu Dhabi Global Market

Dubai International Financial Centre is a supporting partner of FinovateMiddleEast

FinovateMiddleEast partners also include AstroLabsByte AcademyEuropean Fintech AllianceFemtech LeadersFINOLABFintech ConnectorFintech GalaxyFintech Professionals AssociationHolland FintechPlug and Play Abu Dhabi Global MarketSME Finance ForumStartupbootcampStartupbootcamp FintechSwiss Finance + Technology AssociationWomen Who Code

FinovateMiddleEast media partners include Aite GroupArabnetBankersHubBanking TechnologyBeFast.TVBig Data Made SimpleBlockchain in EuropeBlockExplorerBreaking BanksMiddle East Business ReviewCrowdfund InsiderFinancial ITFintech FinanceFintechtimeForresterGigabitHeadcountIBS IntelligenceInnovate FinanceIslamic Finance NewsMercator Advisory GroupOvumOxford Business GroupPlus JournalRainmaking ColabRFI GroupThe Fintech TimesThe Nilson ReportThe PaypersUnlock Blockchain

 

From AI to Wealth Management: FinovateMiddleEast Arrives in Dubai

From AI to Wealth Management: FinovateMiddleEast Arrives in Dubai


Image designed by Freepik

In just two days, Finovate will make its Middle East debut. The conference begins on Monday, 26 February and continues through Tuesday, 27 February, and will feature both our signature 7-minute, live demo format as well as an exciting array of fintech visionaries and thought leaders to provide insight and context into the technological innovations we’ll see over the two days of FinovateMiddleEast.

So what are we talking about when we talk about fintech in MENA? Our FinovateMiddleEast Themes Word Cloud below offers more than a few helpful hints.

Let’s take a closer look at the top three …

AI – Leveraging artificial intelligence to solve technical challenges in finance is as important for fintechs in MENA as it is all over the world. Often combined with machine learning and data analytics, AI is enabling businesses to better understand their customers, make many operational procedures faster and less error prone, and even pave the way for a world of connected devices courtesy of the Internet of Things.

Mobile Wallets – While mobile wallet adoption has been mixed in many places, in MENA mobile wallets continue to play a major role in driving mobile payments and providing opportunities for consumers – especially the un- and underbanked – to participate more easily in e-commerce as well as giving businesses such as grocery stores, gas stations, and public transit a path toward faster payment processing and a better experience for consumers.

Wealth Management – The growing population of high net worth and ultra high net worth individuals in MENA is helping generate interest in wealth management solutions. These options range from 100% robo advisory services to wealth management firms that blend technology with human experts to provide a holistic financial advisory service.

Get to know the companies whose technologies reflect these and many more innovative trends in fintech via our FinovateMiddleEast Sneak Peek series. And for more information on our keynotes speeches and panel discussions, be sure to check out our Day One and Day Two agendas.

We are excited about Finovate’s debut in Dubai and hope you will join us in person at the Madinat Jumeirah Conference and Events Centre here in Dubai, UAE, or follow us online through our Live Twitter feed @Finovate.  Registration on both Monday and Tuesday will begin at 8am with refreshments and a continental breakfast available to attendees. Opening remarks on Monday will begin at 8:30; on Tuesday the first presentation begins at 9am.


The United Arab Emirates Ministry of Finance is the Exclusive Strategic Partner of FinovateMiddleEast

FinovateMiddleEast sponsors also include UAE Exchange, Profile Software, simility, Temenos, Block Gemini, Loxon Solutions, Ortec Finance, Plug and Play Abu Dhabi Global Market

Dubai International Financial Centre is a supporting partner of FinovateMiddleEast

FinovateMiddleEast partners also include AstroLabs, Byte Academy, European Fintech Alliance, Femtech Leaders, FINOLAB, Fintech Connector, Fintech Galaxy, Fintech Professionals Association, Holland Fintech, Plug and Play Abu Dhabi Global Market, SME Finance Forum, Startupbootcamp, Startupbootcamp Fintech, Swiss Finance + Technology Association, Women Who Code

FinovateMiddleEast media partners include Aite Group, Arabnet, BankersHub, Banking Technology, BeFast.TV, Big Data Made Simple, Blockchain in Europe, BlockExplorer, Breaking Banks, Middle East Business Review, Crowdfund Insider, Financial IT, Fintech Finance, Fintechtime, Forrester, Gigabit, Headcount, IBS Intelligence, Innovate Finance, Islamic Finance News, Mercator Advisory Group, Ovum, Oxford Business Group, Plus Journal, Rainmaking Colab, RFI Group, The Fintech Times, The Nilson Report, The Paypers, Unlock Blockchain

Equifax Adds Entersekt’s Transakt Technology to Better Secure Online and Mobile Services

Equifax Adds Entersekt’s Transakt Technology to Better Secure Online and Mobile Services

Less than a week after announcing its partnership with mobile authentication and e-commerce enablement firm, ForgeRock, Entersekt is back in the fintech headlines with news that Equifax will deploy the South African firm’s Transakt solution as an additional layer to protect Equifax’s online and mobile services.

“We are excited to team up with Equifax in enhancing protection of its customers’ identities and personal data,” Entersekt’s North America SVP Sherif Samy said. “This alliance plays into our long-standing strategy of partnering with leading global companies to assist them in launching products and services that represent the best in digital innovation, usability, and security.”

Transakt supports an intuitive, one-touch authentication experience for users. The solution sends the user a real time authentication request via their mobile device whenever a digital identity or account is required. The user simply approves or blocks access by tapping “Accept” or “Reject” to enable or prevent access. Transakt uniquely identifies each registered device, ensures its continued integrity as a factor of authentication, and creates a channel between the device and the digital service provider through which identities are confirmed and sensitive digital transactions conducted.

Gaurav Khanna, SVP for Global Product Management and New Product Innovation added, “Entersekt’s market leading offering enables us to expand our trusted services to various new digital channels. Adding Transakt to our platforms provides us with a secure way to identify, reach out to, and interact with our customers.”

A participant in our 2014 developers conference, FinDEVr Silicon Valley, Entersekt’s CTO discussed cybersecurity challenges in a presentation titled, “Securing Mobile Applications through Transport Layer Diversity.” Since then, the company has partnered with FirstBank ($15 billion in assets), teamed up with multiple Finovate Best of Show winner Backbase, and worked with fellow Finovate/FinDEVr alum CREALOGIX. Founded in 2008, Entersekt is based in Stellenbosch, NA, South Africa. Schalk Nolte is CEO.