Posts Tagged ‘identity’

miiCard confirms it will demo at FinovateEurope 2011

Monday, December 13th, 2010

Online identity company miiCard has been handpicked to demonstrate its revolutionary digital passport at FinovateEurope 2011, the high profile banking technology conference, on Tuesday 1 February 2011 in London.

FinovateEurope is designed to showcase the most innovative new financial technology products and ideas from established industry leaders as well as cutting-edge startups like miiCard.

miiCard is a unique digital passport for the consumer that proves “I am who I say I am” in real time, for the first time to Anti-Money Laundering, Know Your Customer Regulations and the Proceeds of Crime Act standards.

Owned and managed by the individual, miiCard allows the consumer to track, monitor and so take control of their online identity for the first time.  miiCard is free to the consumer and charged to the vendor on a transactional basis.

Every day between 70% and 90% of online financial transactions are abandoned when the customer is asked to complete the transaction offline by taking their driving license, passport or utility bill into their local bank branch as James Varga, miiCard’s founder explains:

“The final barrier to selling financial products online is identity – being able to prove ‘I am who I say I am’ in real time online.  Until we crack that nut, the financial services industry will continue to lose out on online business. Our challenge today is to create trust between banks and the consumer without the need for physical offline identity validation.

“I believe miiCard is the answer to the issue of trust, allowing the consumer to buy financial products online for the first time and I am delighted to be bringing that solution to FinovateEurope”.

The selection process to be accepted to FinovateEurope is exceptionally competitive and miiCard will appear alongside some of Europe’s most exciting emerging technologies.   FinovateEurope 2011 provides a powerful platform for financial technology companies to reach new customers and VCs as well as to form strategic partnerships.

miiCard, a patent pending global solution, soft launched to the financial services industry at Sibos in November 2010, and was voted Innotribe’s most promising startup.  miiCard’s aim is to eradicate the final barrier to global trade, the need for offline proof of identity, before a financial product can be purchased.

miiCard meets the challenge created by the concept of online trust for the first time, allowing customers to buy financial products completely online.  This will improve conversion rates, cut operational costs and fight internet fraud.

Eric Mattson, CEO, The Finovate Conference Series comments:  “We are delighted to have miiCard doing a demo at FinovateEurope 2011.  The issue of validating a customer’s identity online is a key challenge for retail banks and miiCard offers an innovation with the potential to solve that huge problem.

For more information contact cat@hottinroof.co.uk

miiCard announces strategic relationship with Yodlee to deliver digital passports

Thursday, October 28th, 2010

Banking innovation and the fight against Internet fraud moves forward today with digital identity company miiCard’s announcement of a strategic development and distribution relationship with Yodlee, Inc., the leading provider of online and mobile personal finance management (PFM) solutions.

miiCard, a patent pending, global, digital identity solution, is soft launching to the financial services industry in Amsterdam, at Sibos, October 28th. miiCard’s aim is to eradicate the final barrier to global trade in financial service products – the often cumbersome and always time consuming need for offline proof of identity before a financial product can be purchased.

Powered by Yodlee, the miiCard Digital Passport enables consumers to prove “they are who they say they are” online, in real-time; enabling them to buy financial products completely online for the first time, in a fashion that meets Anti-Money Laundering laws, Know Your Customer regulations and the Proceeds of Crime Act standards.

Making the announcement at Sibos where miiCard was invited by SWIFT to present at the Innotribe Challenge, James Varga, miiCard’s Founder explains: “Online authentication has become the holy grail for all financial institutions. Proving online identity is the final barrier to global trade in financial services products; and while consumers fall victim to fraud every day, it is critical that we as an industry address the issue and offer a solution fast, and that’s what miiCard, working with Yodlee, intends to do.”

Every day between 70% and 90% of online financial transactions are abandoned when the customer is asked to complete the transaction offline by taking their driving licence, passport or utility bill into their local bank branch to prove identity.

Varga adds: “The Internet world facilitates anonymity, not trust. Our challenge today when conducting business, fighting fraud and protecting the customer, is to create trust between business and consumer without resorting to physical offline identity validation”.

miiCard will be built on the Yodlee 10™ personal finance platform, the first patented, customizable, web platform for financial services. Yodlee is the leading provider of secure, personalized online and mobile PFM services, powering more than 85% of online PFM users at leading bank and portal sites worldwide.

Joseph Polverari, Chief Marketing and Strategy Officer, Yodlee states: “Safer, more efficient online transactions are in ever increasing demand by financial institutions and consumers alike, presenting a significant opportunity. The miiCard Digital Passport is another terrific example of an innovation on the Yodlee 10 platform that we believe will help bring consumers and financial services providers closer together, in a way that is beneficial to both.”

Owned and managed by the individual, miiCard allows the consumer to track, monitor and so take control of their online identity for the first time. miiCard is free to the consumer and charged to the vendor on a transactional basis.

miiCard introduces the concept of online trust, enabling customers to buy financial products completely online, in a single session, for the very first time. Participating financial services providers can expect improved customer conversion rates, reduced abandonment, lower operational costs and fewer incidents of fraud.

www.miicard.com

Revolutionary miiCard digital passport allows fully online purchase of financial products for the first time

Thursday, October 21st, 2010

miiCard, the online identity company, has been invited by SWIFT to speak at Sibos in the Innotribe Challenge, a startup competition on Thursday 28 October in Amsterdam.

miiCard is a unique digital passport for the consumer that proves “I am who I say I am” in real time, for the first time to Anti-Money Laundering, Know Your Customer Regulations and the Proceeds of Crime Act standards.

Owned and managed by the individual, miiCard allows the consumer to track, monitor and so take control of their online identity for the first time. miiCard is free to the consumer and charged to the vendor on a transactional basis.

miiCard, a patent pending global solution, is soft launching to the financial services industry with Sibos its first public outing. miiCard’s aim is to eradicate the final barrier to global trade, the need for offline proof of identity, before a financial product can be purchased.

Every day between 70% and 90% of online financial transactions are abandoned when the customer is asked to complete the transaction offline by taking their driving license, passport or utility bill into their local bank branch.

James Varga, miiCard’s Founder explains: “The internet world facilitates anonymity not trust. Our challenge today when conducting business, fighting fraud and protecting the customer is to create trust between business and consumer without resorting to physical offline identity validation”.

miiCard introduces the concept of online trust for the first time, allowing customers to buy financial products completely online. This will improve conversion rates, cut operational costs and fight internet fraud.

SWIFT is looking for start-ups with a compelling and radically innovative B2B offering and miiCard will have the opportunity to pitch their solution to the SWIFT incubation team. The best start-ups and ideas are brought together in this “dragon’s den” to share and discover the ideas and dynamics at the cutting edge of financial services today. Sibos is an annual member event for over 8,000 financial services senior professionals and the trade media.

miiCard will deliver demonstrate its product between 10.00 and 10.30, on Tuesday 26 in the Innotribe theatre on the SWIFT stand.

www.miicard.com


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