IDology Announces “Significant” Strategic Equity Investment in Payfone

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IDology, an identity-verification specialist out of Atlanta, has made a strategic equity investment in mobile authentication startup and fellow Finovate alum, Payfone.

Terms were not immediately available, but the investment was described as “significant” by IDology, according to reporting at American Banker. And as part of the investment, IDology has integrated Payfone’s network authentication into its ExpectID Mobile solution.

With this move, IDology will add both network authentication and transaction monitoring to its ID verification and anti-fraud solutions. ExpectID Mobile works by establishing a persistent mobile identity for each consumer that can be maintained through multiple life cycle change events. The mobile identity is resistant to mobile fraud tactics and can be created with or without ID verification.

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IDology CEO John Dancu added that the partnership reflects IDology’s commitment to mobile technology that “strike(s) a balance between convenience and security” and provides “frictionless access to products and services.” Payfone CEO Rodger Desai called IDology an “excellent strategic partner” and said the new relationship also would be an opportunity for his company to fight fraud in markets such as alternative finance and payment gateways.

Recent headlines for IDology include the fall 2015 launch of its email validation technology, ExpectID Email in September, and picking up the Southeastern Software Association Impact Award from the Technology Association of Georgia in the Technology Solutions Provider category in May. A finalist in the 2015 Business Intelligence Group (BIG) Innovation Awards, Payfone made a major pivot two years ago to focus its technology away from payments and toward authentication. Read more about Payfone in an interview with Desai in the New York Business Journal.

Founded in 2003, IDology demoed its ExpectID Enterprise solution at FinovateFall 2012 in New York. Payfone also made its Finovate debut at the fall conference in New York in 2012. Founded in 2008 and headquartered in New York City, the company demonstrated its 1 Touch Checkout solution.

Finovate Alumni News

On Finovate.com

  • “IDology Announces “Significant,” Strategic Equity Investment in Payfone
  • “Worldpay Goes Public; Shares Rally on Trading Debut”

Around the web

  • Fastacash announces strategic investment in Myanmar-focused, MyPAY.
  • American Banker interviews CEO Manolo Sanchez, BBVA Compass.
  • Persistent Systems announces technology partnership with Municipal Corporation.
  • Independent.IE features CurrencyFair, Expensify, and PayPal in a review of 20 PFM apps.
  • Fox Business interviews Blooom President Greg Smith on the future of 401(k) plans.
  • Silicon Review lists SnoopWall as 1 of 20 fastest growing security companies.
  • The Hindu features Cloud Lending Solutions’ co-founder Snehal Fulzele.
  • Interactions wins bronze Stevie Award in the Most Innovative Tech Company of the Year category. This is its fourth consecutive Stevie Award.
  • Slush.org interviews Kristo Kaarmann, TransferWise co-founder.
  • The Culture Trip highlights Kantox in its review of successful Barcelona startups.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • “American Banker’s “20 Fintech Companies to Watch” Features Eleven Finovate Alums”
  • “Kabbage’s Fresh $135 Million to Help Grow Karrot Consumer Lending Platform”
  • “Hoyos Labs Unveils 4F Smartphone Authentication Technology”

Around the web

  • IDology makes an equity investment Payfone.
  • Insuritas to install insurance agency solution for MAC FCU’s 14,000+ members.
  • PocketSmith launches in Xero Add-On Marketplace.
  • Fidor Bank wins in two categories, Lending Club and Idea Bank both come in first, at BAI Retail Delivery’s Global Banking Innovation Awards.
  • WSJ features BehavioSec and Nymi in article “The Next Security Frontier: The Human Body”
  • mBank launches biometrics in its mobile application dedicated to corporate customers.
  • PYMNTS profiles Moven in the wake of its recent $12 million fundraising.
  • Markit unveils cloud-based, Know Your Third Party (KY3P) service to make it easier to manage third-party risk-processes.
  • Blackhawk Network and Stockpile partner to make eGift cards for stock available at select retailers in the U.S.
  • Meniga receives a World Summit Award for best technological solution in e-business and commerce.
  • TechCrunch: “Ping Identity Opens Up About Its Financials As It Eyes 2017 IPO”

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Alumni News– December 11, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMalauzai Software announces launch of its SmartMarketing program to promote mobile banking.
  • Azimo extends £1 money transfer service to India, Pakistan, Bangladesh, and Sri Lanka.
  • Information Week takes a look at mobile payment apps including Flint.
  • Mortgage Harmony rebrands as Rate Reset.
  • Contact Solutions, IDology, and Pindrop Security team up to Cut IVR Fraud.
  • Examiner.com: Dynamics‘ next-generation credit card features buttons to log-in PIN security code.
  • Lendio CEO explains how his company is fueling the American dream.
  • Prosper comments on Lending Club IPO, expects to top $9 billion in loans this year.
  • PayNearMe partners with Department of Health and Human Services to spread the word about healthcare.
  • Bluefin Payment Systems to provide its PCI-validated Point-to-Point Encryption (P2PE) Solution to Priority Payment clients.
  • Career Bliss lists PayPal, Intuit, and Google in the top 50 happiest companies in the U.S.
  • Lending Club launches IPO, shares rally 70% in early trading.
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.

Alumni News– September 2, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMobile payments app from BBVA earns more than 250,000 downloads since launch last December in Spain.
  • Knox Payments picks up $625,000 in venture round funding. See them demo at FinovateFall 2014 in New York this month.
  • Issuer Direct chooses Top Image Systems to drive incoming document automation.
  • P2P lender, SocietyOne, to offer free credit scores to customers.
  • MicronotesCross-Sell interview marketing platform now automatically reports Net Promoter Score.
  • Advanced Merchant Payments 1 of 8 fintech startups to enter the FinTech Innovation Lab in Asia-Pacific.
  • Jumio and IDology announce partnership to enable verification via government-issued ID in card-not-present situations.
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.

Alumni News– July 22, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMasterCard announces strategic partnership with Saigon Thuong Tin Commercial Joint Stock Bank to support card payments.
  • Finovate alums win honors at inaugural Mobile Innovations Awards event.
  • IDology teams up with CARD.com to boost activation and combat prepaid card fraud.
  • Micronotes releases Micronotes Social to retarget bank customers in their Facebook News Feed with relevant content.
  • SureSwipe Move using Handpoint to power acceptance of all major card payments.
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 — March 3, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgLeaf adds chief operating officer, vice-president of finance, and vice-president of engineering as company expands to bigger offices.
  • Fiserv appoints Kevin Gregoire as group president of financial institutions group.
  • CashStar launches new edition of digital gifting platform, CashStar 5.
  • Actiance Socialite available through the EMC Select Program.
  • IDology’s ExpectID Global launches in Canada.
  • Tactile Finance PRO’s new features target mortgage loan officers’ ability to compete and increase referrals. See its live demo at FinovateSpring next month.
  • Pikanik Bakery discusses its experience with ShopKeep POS.
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 — January 14, 2014

  • ACI Worldwide announces its point to point encryption (P2PE) solutions now supported by VeriFone, Ingenico, and Equinox.
  • New contract with Advanced Network helps Better ATM Services grow its reseller network.
  • Netbanker reports: Moven Offers Free Ride, but Only to New Uber Customers.
  • Industry analyst Ovum names Backbase a Market Leader for next generation digital banking platforms.
  • Linkable Networks partners with marketing content publishers to form The Linkable Network, its new card-linked shopper marketing 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.

IDology Launches ExpectID Global

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IDology announced today that its ExpectID Enterprise real-time age and identity verification technology will be soon available in the UK as ExpectID Global.

The first step in what the company plans as a global rollout, the launch of ExpectID Global will give more companies “a secure way to do business internationally” in the words of IDology CEO John Dancu. ExpectID Global, he says, will help companies “prevent fraud, drive revenue, and meet compliance.”

IDology provides merchants doing business in card-not-present environments with the ability to do real-time age and identity verification. The on-demand technology allows businesses to control and customize the entire verification process, helping merchants keep up with changes in the security and regulatory landscape.
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ExpectID Global also includes the ability to validate domestic and international drivers licenses and passports, a key feature for merchants doing global e-commerce.
The Atlanta-based company is an alum of FinovateFall 2012. See their demonstration of ExpectID Enterprise here.

Finovate Alumni News– November 21, 2013

  • Thumbnail image for Finovate-F-Logo.jpgHPC Wire takes a look at the partnership between Toopher and Texas Advanced Computing Center.
  • Regulators green light IDology plans for New Jersey expansion.
  • Jackson Free Press uses data from Manilla to source column on student loan debt.
  • Michigan-based ECCU introduces a responsive designed website powered by Banno.
  • MyBankTracker reports: SimpleTuition’s SmarterBank to Shut Down Due to Low Participation.
  • International Business times considers how Holvi and TransferWise are revolutionizing banking.
  • Tagit powering Maybank P2P m-payment Service in Singapore.
  • BancVue’s Kasasa wins Five 2013 MarCom Awards.
  • Betterment CEO Joe Stein talks about the online RIA industry with RIA Biz.
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– September 13, 2013

  • FinovateLOGO.jpgTradeKing wins FINRA approval for acquisition of GAIN Securities.
  • Numbrs AG earns $3.8M in funding from parent Centralway.
  • Interactions, LearnVest, mBank & Accenture, Mitek, Money Desktop, Motif Investing, TipRanks, and Yodlee pick up Best of Show awards at FinovateFall 2013.
  • InComm, in partnership with CVS/pharmacy wins Best Third-Party Card Retailer Award.
  • Standard Distributing and Other Side Produce select eDeposit as their web and mobile payment solution.
  • Emida launches new smartphone POS app, available worldwide.
  • IDology launches ExpectID Global, an international expansion of its solution.
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– August 20, 2013

  • FinovateLOGO.jpgFinovateFall 2013 Sneak Peek Part 3 is up. Get to know more about this year’s innovators.
  • Interactions chooses Edward Durkin for Chief Financial Officer. See Interactions demo at FinovateFall in New York.
  • Mercury Payment Systems to support PayPal in-store payments thanks to new collaboration.
  • IDology partners with AssureSign as primary authentication solution for advanced identity verification.
  • Kabbage integrates with Stripe to allow businesses that process online payments to apply for financing.
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.