FinovateFall 2012 / Locaid
Presenter Profile:
How they describe themselves: Locaid is the world’s largest Location-as-a-Service (LaaS) company. We operate a location privacy platform that allows mobile developers to locate over 350 million devices for enterprise authentication, fraud management, consumer location services and opt-in mobile marketing. Locaid locates smartphones, feature phones, tablets and any mobile device on leading wireless carriers including America Movil, AT&T, Rogers, Sprint, T-Mobile and Verizon Wireless.
How they describe their product/innovation: Locaid Geofence™ is a new API that allows financial services, bank and card issuers to combine and compare real-time customer locations with card swipe and transaction location data (POS et al). Using Locaid’s Location-as-a-Service, banks can compare mobile location to POS locations to determine fraud potential, reduce false positives and drive enhanced cardholder engagement. The Geofence API also allows the bank to create alerts whenever cardholders enter or leave the defined areas, such as branch or ATM locations.
Contacts:
Bus. Dev.: Rip Gerber, President/CEO, rgerber@loc-aid.com
Press: Carolyn Hodge, CMO, chodge@loc-aid.com
Sales: Jeff Allyn, SVP Sales, jallyn@loc-aid.com
Website: www.loc-aid.com
Blog: www.chieflocationofficer.com
Twitter: @Locaid
HQ Location: Boca Raton, FL
Company Founded: 2005
Product Being Demoed: Locaid Geofence/Card Fraud Detection
Product Launched: July 2012
Metrics: $26.2M total in venture funding: Series A (November 2005) $5M; Series B (January 2008) $8.15M; Series C (February 2011) $13M
- Key Executives
Locaid is the world’s largest Location-as-a-Service (LaaS) company. We operate a location privacy platform that allows mobile developers to locate over 350 million devices for enterprise authentication, fraud management, consumer location services and opt-in mobile marketing. Locaid locates smartphones, feature phones, tablets and any mobile device on leading wireless carriers including America Movil, AT&T, Rogers, Sprint, T-Mobile and Verizon Wireless. How they describe their product/innovation: Locaid Geofence™ is a new API that allows financial services, bank and card issuers to combine and compare real-time customer locations with card swipe and transaction location data (POS et al). Using Locaid’s Location-as-a-Service, banks can compare mobile location to POS locations to determine fraud potential, reduce false positives and drive enhanced cardholder engagement. The Geofence API also allows the bank to create alerts whenever cardholders enter or leave the defined areas, such as branch or ATM locations. Key Executives: Rip Gerber (President/CEO)
Key Stats
- Key Board Members
Greg Baty (Director, Hamilton Lane), John Kim (Managing Director, HIG Capital), John Glushik (Managing Director, Intersouth) Key Advisory Board Members: Brad Greene (Business Development, VISA Mobile Wallet) Key Partnerships: AT&T, VISA, TCS, Verizon, Sprint, Rogers, T-Mobile, Microsoft, Qualcomm
- Key Advisory Board Members
Greg Baty (Director, Hamilton Lane), John Kim (Managing Director, HIG Capital), John Glushik (Managing Director, Intersouth) Key Advisory Board Members: Brad Greene (Business Development, VISA Mobile Wallet) Key Partnerships: AT&T, VISA, TCS, Verizon, Sprint, Rogers, T-Mobile, Microsoft, Qualcomm
- Key Partnerships
Greg Baty (Director, Hamilton Lane), John Kim (Managing Director, HIG Capital), John Glushik (Managing Director, Intersouth) Key Advisory Board Members: Brad Greene (Business Development, VISA Mobile Wallet) Key Partnerships: AT&T, VISA, TCS, Verizon, Sprint, Rogers, T-Mobile, Microsoft, Qualcomm
- Key Customers
8 out of the 10 top US banks and 2 of the top 4 largest card issuers use Locaid for location.