Posts Tagged ‘miiCard’

miiCard’s Marvellous Winter Warmer

Friday, December 14th, 2012

Can’t say a big enough thank you to miiCard on two counts!

Been sitting here with headache, dehydrated….  it’s that time of year.  Knock at the door, stressed out postman (it’s that time of year…) hands over a cute little package with my name on it.

Open box and the whiff of Christmas explodes into the air.  It’s time to smile.  Packaging hay – nativity – I can feel a Christmas glow coming on. Tea and biscuits.  But this is not just any old tea and biscuits. This is miiCard tea and biscuits.  Oozing spicy nutmeg and cinnamon.  My day just got a whole lot better and one giant step closer to Christmas cheer.

The second thank you?  Only miiCard could verify the real Santa …

Real identity verified by miiCard

miiCard Raises $2.5 Million Investment To Prove Real Identities Online

Monday, April 30th, 2012

Online identity verification service miiCard today announced the completion of a second seed funding round, securing $2.5 million angel and venture capital from a mix of investment groups including New Wave Ventures, IQ Capital and Par Equity, to accelerate growth and adoption of its ‘digital passport’ amongst businesses and consumers.

The substantial investment supports miiCard’s expansion into the US and will enable rapid growth of the business, across a range of markets including financial services, ecommerce, social networking and dating, where trust online is now critical. Such a high level of seed funding for an early stage company reflects miiCard’s strong initial market traction as well as the global acceleration of the online identity verification sector and the realisation of the need to prove real identities on the web.

miiCard (My Internet Identity) is the world’s first independent, commercial identity verification service allowing the individual to control their digital identity and prove “I am who I say I am” online and in real-time, to Anti-Money Laundering standards, eliminating the need for a physical ID check.

miiCard is responding to a growing demand worldwide for a means to prove identity purely online as both the risk and value of transactions on the web escalate. Both the US and UK governments have launched initiatives to tackle the issue, with the National Strategy for Trusted Identities in Cyberspace (NSTIC) in the United States and the UK Identity Assurance Programme, with the aim of validating consumers’ true identities – not just checking information about them.

James Varga, miiCard CEO, comments: “Now, more than ever, we are seeing a huge amount of activity in the marketplace around online identity and trust. With miiCard we can create a level of trust that currently does not exist online, and dramatically change the way we transact on the Internet.

“We’re delighted to have New Wave Ventures on board to help drive our business forward. Along with our existing investors and board members, we have a fantastic team and a unique opportunity to change the way we interact online.”

This is the first time New Wave Ventures have invested in miiCard and its backing builds on an earlier funding round during which miiCard raised over $.75 million from investors including IQ Capital and Par Equity who have reinvested during this current round.

Tim Bullock, co-founder of New Wave Ventures comments: “As the Internet plays a growing role in the way we interact with each other, especially when executing financial transactions, it becomes increasingly important to be able to prove who we are, and quickly and reliably establish who we are dealing with.

“The miiCard team have developed a unique and global solution to this problem, which will facilitate commercial transactions and remove uncertainty from more personal interactions, and we look forward to working with them to develop the business.”

Ed Stacey of IQ Capital Partners, comments: “miiCard has clearly demonstrated an ability to develop rapidly. We’re proud to be continuing to support the company as it positions itself as the market leader in online identity.”

Paul Atkinson of Par Equity, states that: “miiCard has clearly made huge progress over the last few months and we are delighted to be involved as investors. We are looking forward to miiCard being adopted as an industry standard for online identity validation.”

Founded in September 2011, miiCard already supports seven countries and is quickly expanding to meet demand from businesses wanting to improve customer satisfaction, increase conversions and reduce operational costs by enabling consumers to meet identity verification requirements purely online and in real-time. miiCard is looking to grow the existing team, with plans to treble staff in the coming months.

http://www.miicard.com/

Watch the tour video and see how miiCard can create trust online.

For more information please contact Sally Rattray.

miiCard Targets US Market with Digital Passport

Monday, April 23rd, 2012

miiCard today announced a move to target the US market following increased market traction globally for miiCard’s online identity verification service.  This strategic expansion is in direct response to the Internet’s identity crisis and the US government’s National Strategy for Trusted Identities in Cyberspace (NSTIC) initiative.

Today’s news reflects heightened consumer concern around the issue of online identity in the US and growing demand worldwide for a way to create trust and protect people’s online identity, which was identified as one of 2012’s key technology trends by Deloitte earlier this year.

“miiCard’s pioneering digital passport is the only commercial product able to prove someone’s online identity, not only for financial services but across the board in e-commerce, online dating and social networking,” said James Varga, miiCard CEO, “miiCard puts users in control of their online identity and instantly enables them to create real trust online.”

miiCard lets users prove ‘I am who I say I am’ online, in real-time and with the same level of assurance that a passport or driver’s license carries offline. Owned and managed by the individual, miiCard is a federated identity service that centralizes the management and control of your online identity.

miiCard’s innovative use of Yodlee’s patented Personalized Finance Platform enables miiCard to establish a consumer’s identity by using information only the account holder would know.  Along with a number of additional security measures, including email verification and 2-factor authentication via sms, miiCard can validate a consumer’s identity to the fullest extent of applicable anti-money laundering and know your customer standards.

miiCard’s use of the Yodlee Platform will allow financial services and ecommerce sites around the globe to offer online versions of products and services that have historically required offline identity checks. In addition, miiCard can also be made available as a Yodlee FinApp™, available for distribution across Yodlee’s Personalized Finance Platform and network of banking customers and partners.

“Your financial accounts and transactions history don’t lie,” said Yodlee’s Chief Marketing and Strategy Officer, Joseph Polverari.  “miiCard’s innovative use of the Yodlee Platform will take the friction out of many legacy identification methods, dramatically reducing customer abandonment and making critical products and services more accessible to more consumers around the world.”

James Varga, miiCard CEO, comments: “Right now, digital identity is one of the most talked about technology topics. From social networking to banking, the need to create trust online is becoming ever more important. Our relationship with Yodlee means miiCard is the first commercial solution to the problem of how to prove ‘you are who you say you are’ online.”

Vendors accepting miiCard as proof of online identity benefit from increased conversions by supporting a live and purely online sales process, reduced cost of execution by not having to validate an identity offline or physically, and additional fraud and identity theft protection equivalent to a class 2 verification.

http://www.miicard.com/

For more information please contact Sally Rattray.

miiCard Expands Global Presence

Tuesday, February 7th, 2012

Today, at FinovateEurope in London, online identity verification service miiCard will announce the global expansion of support for its ‘digital passport’ to include South Africa, India, Australia and New Zealand. The news further boosts miiCard’s already strong start to the year, which has seen a partnership with credit solutions provider Callcredit and TRUSTe Web Privacy certification. This international reach, combined with strategic partnerships, cements miiCard’s exclusive position as the only Electronic Identity and Verification (eID&V) service to prove identity purely online and in real time to anti-money laundering (AML) standard, globally.

James Varga, miiCard CEO, comments: “Proving online identity is the final barrier to global trade. The need to create trust online is a worldwide problem so we are delighted to be rolling out support for miiCard in India, South Africa, Australia and New Zealand. This takes us one step closer to conducting business, protecting consumers and fighting fraud internationally, without resorting to physical offline identity validation.”

A user-centric service, miiCard provides the primary ID verification that is missing from existing eID&V solutions, and can be used as an online equivalent to the offline driver’s licence or passport checks normally conducted in a range of industries like financial services, ecommerce, dating and gambling. miiCard is powered by Yodlee, the leading Personal Finance Management (PFM) solution behind 85% of online users at leading bank and portal sites worldwide.

The Callcredit partnership brings together miiCard’s anti-impersonation technology with Callcredit’s award winning data based electronic verification solutions, to provide an unrivalled level of protection and convenience for consumers and companies wanting to do business purely online.

“Our strategic relationships with Yodlee and Callcredit demonstrate confidence in the miiCard digital passport to change the way we trade and transact online, and we are very excited to be working with them to create trust on the Internet,” Varga says.

FinovateEurope is one of the most influential trade shows for the financial services industry and is designed to showcase the most innovative financial technology products and ideas from established industry leaders as well as cutting-edge startups like miiCard.

Eric Mattson, CEO of The Finovate Group says “We are delighted to bring miiCard back to FinovateEurope for a second year. miiCard’s digital passport innovation is an exciting idea in online identity that has the potential to make a real impact on how retail banks interact online with their customers.”

Callcredit and miiCard team up to launch financial ‘digital passport’

Monday, January 9th, 2012

Opening a new savings account or credit card online is set to become a lot easier thanks to a new partnership between ‘digital passport’ providers miiCard and data specialists Callcredit.

Until now, fraud and money-laundering regulations have meant that customers applying for a financial product online have usually had to follow this up by providing proof of identity and other documents by post.

As a result, up to 90% of sign-ups are never completed – meaning many customers are missing out on the attractive ‘online only’ rates offered by banks.

But in a major step for both consumers and the finance industry, miiCard and Callcredit have joined forces to provide a unique online identity service that removes the need for paper-based checks.

The miiCard (My Internet Identity Card) service allows a consumer to prove their identity online and in real-time, creating the same level of trust as a passport or driving licence. Callcredit’s award-winning identity verification software, which contains data on millions of UK consumers, gives an extra, robust layer of protection that ensures the service meets strict anti-money laundering and fraud regulations.

James Varga, Chief Executive of miiCard, said: “In a digital economy where there is a 70% to 90% drop out rate when selling financial products online as soon as the process goes offline, removing the drivers’ licence, passport and utility bill checks is critical. Creating this level of trust online will not only change the face of financial services but anywhere you need to know who you’re dealing with.”

Graham Lund, Managing Director of Callcredit, said: “At this time of year, many consumers will be looking to get their finances in order for 2012 by taking advantage of competitive online banking offers.

“As a recognised leader in identity verification and fraud prevention, we have been working closely with miiCard to make it easier for customers to complete the sign-up process without compromising compliance with regulations or fraud rates. The new service provides a consumer-focused solution that combines the latest cutting edge technology with the widest range of robust data sources. Today represents a shift in the way consumers and companies will view identity verification in the future.”

miiCard

miiCard launches safe online shopping campaign

Tuesday, November 29th, 2011

miiCard is urging UK shoppers to stay safe this Christmas and prevent online fraud by protecting their online identity. As more and more of us avoid the Christmas crowds by shopping online, so cyber crime levels continue to spike around the season with one in every hundred people affected by fraud and almost £70 million of ecommerce fraud predicted for Christmas 2011 (Source: IMRG).

Christmas is a key target for fraudsters, and shoppers are more than three times likely to experience fraud during the holiday period than any other time of year. James Varga, miiCard’s CEO explains: “Fraud is changing – as we start to reduce security and transactional fraud we are now seeing huge increases in fraud relating to identity theft, impersonation and false documentation. And almost 72% of fraud this Christmas will relate to identity related issues (Source: CIFAS).

Digital passport service miiCard believe it is imperative that UK consumers are aware of the risks and take measures to protect themselves. The company has published a guide identifying the ten tips for safe and secure online shopping which it will publish across the internet and tweet daily in the run up to Christmas. These tips aim to educate the consumer, and will include advice such as: only buy from well known websites, read customer reviews and be careful with the information you share.

As the number of online shoppers grow so we are seeing a corresponding increase in the incidence of internet fraud explains James Varga, founder of miiCard: “Shopping online is fast and convenient and for many of us is a far more attractive option than battling through the crowds on the high street. But, with the increased risk of fraud over the festive period, we are advising consumers to take control and actively protect their digital identity.”

Today in the UK there is no way of proving online ‘I am who I say I am’ in real time. And it is that loophole that fraudsters are leveraging to wage war on the internet shopper: the impact of e-commerce fraud on the UK economy is expected to rise by 18% from £165 million in 2011 to £195 million in 2015 (Source: PayPoint.net).

Varga continues: “We’re encouraging consumers to sign up for a miiCard digital passport and join our fast growing user group who want to create a system of trust online.” Varga wants to encourage banks and retailers to adopt an independent proof of identity that meets anti-money laundering standards. Currently there is no way to prove your identity online to the same level of authority of a passport or driver’s licence.

miiCard is a digital passport (or virtual driver’s licence) that allows consumers to prove they are who they say they are online in real time, validated to anti-money laundering standards. Owned and managed by the individual, miiCard allows the consumer to track, monitor and so take control of their online identity. It creates trust between parties when conducting business, fights fraud and protects consumers without the need for physical identity validation.

Ten Tips for Safe Online Shopping this Holiday Season

1. Buy from well-known websites

Use credible sites like Amazon and eBay that have seller feedback, product reviews and buyer protection procedures in place.

2. Read the reviews

Take the time to read buyer feedback and reviews. Make sure the product is exactly what you want and the seller has a reliable and trusted selling history.

3. Research the business

If you are looking for that extra special something on a smaller, lesser known website, a quick Internet background search should provide you with peace of mind. Check for blog, forum and social media posts by and about the business. Ask your friends if they’ve bought from them before and what their experience was like.

4. Don’t be fooled

If an offer looks too good to be true it probably is. Research the items you’re looking to buy on a few different sites to get an idea of the true value of the goods.

5. Contact the seller

If you have any doubts about a suspicious seller or fake website, contact them to try and verify their details. Poor spelling and grammar in emails from a business can be a warning sign the business is not legitimate.

6. Do a little detective work

Add the words “fraud” and “scam” to the business or product. If someone has been scammed it’s very likely the victims will be making lots of noise in forums and posts online.

7. Read the small print

Read and understand privacy and returns policies. Print a copy of your order and check your bank statement carefully against anything you buy online. Alert your financial provider immediately if you notice anything suspicious.

8. Safety first

Only buy from secure sites that use security encryption in the URL “https://”. Log out accounts after completing a purchase and guard your passwords closely.

9. Don’t give too much away

Be careful with the information you share online. During the buying process all that should be required is: name, email, address, telephone number, payment information and shipping arrangements. Use a landline telephone number and a business address for delivery if possible. Never give out passport, driving licence or social security numbers to anyone online.

10. Payment protection

Using your regular bank account can make you vulnerable so pay by credit card for an added layer of fraud protection.

For more information contact: Sarah Lee

miiCard to conduct survey into internet dating fraud

Monday, November 7th, 2011

Digital passport, miiCard, is launching a survey today aimed at users of dating sites. miiCard want to draw attention to the rapid rise in identity fraud, and are committed to increasing awareness of online safety and preventing fraud. The survey will examine how users build trust and protect themselves when meeting people online.

Online dating has quickly become one of the biggest industries on the internet. Whether you are trying to find an activity partner or someone to share your life with, a multitude of online dating sites can provide listings of people in your area.

However this rise in popularity has come at a cost: online dating sites are now a key target for organised crime, which has led to 200,000 people in the UK reporting financial fraud. A study by the universities of Leicester and Westminster, working with the Serious Organised Crime Agency, discovered that 2% of people surveyed knew of someone who had experienced fraud through an online dating scam.

Details such as surnames, anniversaries, place of work and the names of friends and family can all be used to trace identity and solicit valuable personal information, and so should be guarded at all costs. A similar degree of caution is essential with mobile phone and email account details, which should only be given out once trust has been established.

In order to prevent fraud, details such as passwords, hints and usernames should never be revealed, no matter how close you feel you are getting to someone. Similarly credit card and bank account information should never be released – this opens the door to fraudsters applying for cards and taking out loans in someone else’s name. A degree of caution is also essential when considering giving someone an address. This unlocks the offline world and could increase the possibility of homes being burgled.

As James Varga, miiCard’s CEO comments: “The news that criminals actively target online dating sites is a worrying trend for anyone using these sites on a regular basis. Security is critical, and users should be aware how to protect themselves and avoid being conned. This survey examines how users build trust and protect themselves, and will identify areas that need extra protection.”

To take part in miiCard’s survey on the issue of trust on internet dating sites please click here.

For more information contact: Sarah Lee

miiCard selected as finalist for Innotribe $100K Startup Challenge

Tuesday, September 20th, 2011

miiCard, the purely online digital passport, has been selected as one of just ten finalists for the Innotribe $100K StartUp Challenge at the Sibos conference in Toronto, Canada on September 19-23, 2011 with digital identity a key theme for the conference.

Sibos is an annual member event for over 8,000 financial services senior professionals and the trade media. The Innotribe session is held on the final day of the influential industry event and pits a selection of promising companies against one another, in a ‘Dragon’s Den’ atmosphere. Last year, miiCard was voted ‘Most Promising Startup’ at the same event and this year is one of ten selected out of 200 applicants.

miiCard, powered by Yodlee, is a unique digital passport for the consumer that proves “I am who I say I am” in real time, for the first time. 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 costs the consumer a nominal fee and is charged to the vendor on a transactional basis. miiCard supports the UK, North America, Western Europe, India, Australia, New Zealand and South Africa.

Stephen Brannan, miiCard’s latest board member, will take the stage for the Innotribe contest, bringing his considerable business and financial services knowledge to the fray. With 13 years experience in the international banking industry, including leading the Royal Bank of Scotland’s Separation Business Services team for the past five years, Brannan knows the industry well.

Brannan says: “I’m looking forward to the opportunity to talk about what miiCard is doing, and show where the company is going. Joining the board will let me bring my experience and expertise to help miiCard move to the next stage – and this event gives me a chance to talk about the future of this great company to an international audience.”

A patent pending global solution, miiCard demonstrated initial proof of concept to the financial services industry at Sibos last year. Its aim is to eradicate the final barrier to global trade, the need for offline proof of identity, before a financial product can be purchased.
Innotribe, a SWIFT initiative, is a set of events, tools and initiatives that enables collaborative innovation in financial services. It provides the infrastructure to find, co-create and invest in new ideas and projects.

Ends

For more information contact: Sarah Lee.

About miiCard

miiCard is a revolutionary “digital passport”, powered by Yodlee, that enables users to prove their identity online for the first time to the same level of authority as a driving licence or passport would do offline. By creating trust in an environment characterised by anonymity and transient identities, miiCard will open up opportunities for business online and put internet users back in control of their personal information.

The inability easily to authenticate a user’s identity online has long been a significant problem. Between 70% and 90% of all online financial transactions are terminated when the customer is required to provide physical proof of identity so it is imperative that businesses find a solution.

miiCard is designed to support ecommerce and eradicate this problem by enabling customers to complete complex transactions online without supplying further proof of ID.

For businesses selling online to consumers, miiCard improves conversion rates, cuts operational cost and fights internet fraud.
miiCard also benefits users and vendors by creating trust between parties in a purely online environment, increasing convenience, consistency and simplicity of shopping online, speeding up transactions, reducing costs, improving customer satisfaction and easing regulatory compliance.

James Varga – Founder and CEO

James is a Canadian entrepreneur with over 15 years of innovative technology and internet marketing solutions. In recent years, he has focused on developing Rich Internet Applications and User Experiences for global audiences. James has worked with leading brands in a range of sectors including Winterthur Life, Centrica Business Services, Thomas Cook and Sky Sports.

Stuart Fraser – CTO

Stuart is one of Scotland’s leading digital security experts. Co-founder of specialist IT security consultancy DNS, recently sold to SecureWorks, Stuart’s early career began in the energy sector working for Conoco, BP and Scottish Power.

Stephen Brannan – Board Member

Stephen Brannan spent 13 years at Royal Bank of Scotland, latterly as director of Separation Business Services, where he led the separation of a number of businesses as part of the RBS Group’s strategy to return to stand-alone strength, and further disposals dictated by the European Commission in return for state aid. Brannan also ran the RBS Cards business, was a member of the Visa EU board from 1999 to 2004 and has extensive experience of international banking.

Graham Paterson – Board Member

Graham Paterson was one of the founding partners of SL Capital Partners LLP and played a major role in the growth of that business from a team of two, with assets under management of £200 million, to a team of 40 and assets under management of £5 billion.

David Ball – Board Member

David Ball has held board positions with Tesco Bank and senior roles at HBOS plc and Bank of Scotland, managing IT and business transformation programmes.

miiCard signs sales development agreement with Simbiottik

Thursday, September 15th, 2011

miiCard, a purely online digital passport service, has agreed a partnership deal for global sales and channel development with Simbiottik, a UK-based technology marketing company.

Under the agreement, Simbiottik will develop a channel partner network to promote miiCard – 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 costs the consumer just £1 a month and is charged to the vendor on a transactional basis.

miiCard is keen to reach clients around the world, and needs a strong partner network to reach potential clients. Simbiottik specialises in channel development, and ongoing management of the channel relationship, for technology companies and will boost miiCard’s profile internationally.

“Simbiottik will help us quickly scale our partner network to reach the right clients for miiCard – their connections will get us into markets across the world,” says James Varga, CEO of miiCard.

“miiCard has a powerful product that will transform online commerce and financial services, and we know we can help reach its potential,” according to James Donaldson, founder and CEO of Simbiottik. “We are extremely enthusiastic about this partnership to promote miiCard.”

For more information contact: Sarah Lee.

About miiCard

miiCard is a revolutionary “digital passport”, powered by Yodlee, that enables users to prove their identity online for the first time to the same level of authority as a driving licence or passport would do offline. By creating trust in an environment characterised by anonymity and transient identities, miiCard will open up opportunities for business online and put internet users back in control of their personal information.

The inability easily to authenticate a user’s identity online has long been a significant problem. Between 70% and 90% of all online financial transactions are terminated when the customer is required to provide physical proof of identity so it is imperative that businesses find a solution.

miiCard is designed to support ecommerce and eradicate this problem by enabling customers to complete complex transactions online without supplying further proof of ID.

For businesses selling online to consumers, miiCard improves conversion rates, cuts operational cost and fights internet fraud.
miiCard also benefits users and vendors by creating trust between parties in a purely online environment, increasing convenience, consistency and simplicity of shopping online, speeding up transactions, reducing costs, improving customer satisfaction and easing regulatory compliance.

About Simbiottik

Simbiottik is about “Promoting Technology, Globally”. With offices in the UK and North America, Simbiottik is ideally placed to make lasting and profitable connections between business-sector software developers and value-added resellers to drive revenues and profits for both parties. Simbiottik’s service however, goes far beyond a simple matching service. Simbiottik’s teams in Europe and North America include experienced and innovative channel and business development managers who are dedicated to ensuring that both developers and resellers achieve the full potential from the relationship. Our teams pro-actively manage channel relationships. www.simbiottik.com

miiCard invited to speak at FinovateFall after success at European conference

Tuesday, September 13th, 2011

miiCard, developers of a revolutionary digital passport, have been invited to attend FinavateFall 2011, the high profile banking technology conference, after a highly successful visit to FinovateEurope earlier this year. miiCard CEO James Varga has been asked to speak at the prestigious event, which will be held in New York later this month.

miiCard, which last year signed a strategic development and distribution relationship with Yodlee, the leading provider of online and mobile personal finance management (PFM) solutions, is set to launch in beta before the 2011 Christmas retail season. The product aims to fight internet fraud and protect the consumer by finally solving the issue of trust online. From buying a sofa or selling a bike, to finding a flatmate or applying for a new credit card through the Internet, miiCard allows the individual to prove ‘I am who I say I am’ and create trust when transacting online.

FinovateFall provides a showcase for the most innovative new financial technology products and ideas. The selection process to be accepted is exceptionally competitive and miiCard will appear alongside some of Europe’s most exciting emerging technologies. FinovateFall will provide a powerful platform for miiCard to reach new customers, as well as to form strategic partnerships.

James Varga is looking forward to the conference: “The Finovate events bring together the sharpest minds in financial technology– we thoroughly enjoyed FinovateEurope and it’s a great honour for us to be invited to FinovateFall. The timing is perfect for us at miiCard – the online commerce world is desperate for a solution to the problem of trust – and we’re here to provide the answer.”
miiCard aims to change the way we transact online, by providing a system where proof of identity can be validated entirely online and in real-time. miiCard will make online transactions easier, faster and safer.

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 costs the consumer just £1 a month and is charged to the vendor on a transactional basis.

For more information please contact: Lauren Cormack.

About miiCard

miiCard is a revolutionary “digital passport”, powered by Yodlee, that enables users to prove their identity online for the first time to the same level of authority as a driving licence or passport would do offline. By creating trust in an environment characterised by anonymity and transient identities, miiCard will open up opportunities for business online and put internet users back in control of their personal information.

The inability easily to authenticate a user’s identity online has long posed a significant barrier to trade. Between 70% and 90% of all online financial transactions are terminated when the customer is required to provide physical proof of identity so it is imperative that businesses find a solution.

miiCard is designed to support ecommerce and eradicate this problem by enabling customers to complete complex transactions online without supplying further proof of ID.
For businesses selling online to consumers, miiCard improves conversion rates, cuts operational cost and fights internet fraud.
miiCard also benefits users and vendors by creating trust between parties in a purely online environment, increasing convenience, consistency and simplicity of shopping online, speeding up transactions, reducing costs, improving customer satisfaction and easing regulatory compliance.

James Varga – Founder and CEO

James is a Canadian entrepreneur with over 15 years of innovative technology and internet marketing solutions. In recent years, he has focused on developing Rich Internet Applications and User Experiences for global audiences. James has worked with leading brands in a range of sectors including Winterthur Life, Centrica Business Services, Thomas Cook and Sky Sports.

Stuart Fraser – CTO

Stuart is one of Scotland’s leading digital security experts. Co-founder of specialist IT security consultancy DNS, recently sold to SecureWorks, Stuart’s early career began in the energy sector working for Conoco, BP and Scottish Power.

Finance experts join board of miiCard digital passport to boost next stage of growth

Monday, September 12th, 2011

miiCard has appointed three key board members, Stephen Brannan, Graham Paterson and David Ball – bringing heavyweight financial services and investment expertise to the company at a vital point in its growth.

miiCard has developed a purely online digital passport service that brings trust to the Internet by proving the user’s identity to the same level as a driver’s license or photo ID. It closed its first funding round and completed a management buyout earlier this month and plans a beta launch later this year. The three new board members recognise that miiCard is at a critical stage in its success path and will bring their own expertise to help it reach its full potential.

Stephen Brannan has spent 15 years at Royal Bank of Scotland, latterly as director of Separation Business Services, and has extensive experience of the international banking industry. After leading the separation of a number of businesses acquired under ABM AMRO as part of the RBS Group’s strategy to return to stand-alone strength, and further disposals dictated by the European Commission in return for state aid, he most recently managed the separation process necessary for Santander to purchase parts of the RBS retail network. Brannan also ran the RBS Cards business from 1999 to 2004, so has a thorough understanding of miiCard’s needs.

A highly respected figure in UK banking, Stephen Brannan will bring expert guidance to miiCard as it builds on its recent funding success and management buyout.

Graham Paterson was one of the founding partners of SL Capital Partners LLP and played a major role in the growth of that business from a team of two, with assets under management of £200 million, to a team of 40 and assets under management of £5 billion. An experienced and decisive senior executive, Graham brings extensive investment experience to the table.
David Ball has held board positions with Tesco Bank and senior roles at HBOS plc and Bank of Scotland, managing IT and business transformation programmes.

Together the three new appointments strengthen the miiCard board enormously, bringing insight and understanding of relevant industries and business management practices.

Stephen Brannan says: “There’s a huge opportunity here – there’s nothing else like this available, and, the timing is perfect – if online commerce is to continue to function properly we need to create secure identity procedures. I know my experience and background in financial services can help miiCard reach its potential, so it will be an exciting time, working with the team to find all the applications for this great product.”

miiCard, the revolutionary digital passport, closed its first funding round on September 1, 2011. Raising a total of £550K seed funding from VC, angel and the public sector sources, the round was significantly oversubscribed and completed within six weeks. At the same time, miiCard completed a management buyout, with James Varga appointed CEO.

James Varga says: “This is a big step forward for miiCard – with a board of this calibre we are ready to take miiCard to the next level. It’s an exciting time and I can’t wait to start changing the way financial products are distributed online. Consumers want convenience and with the help of Stephen, Graham and David we can help give them exactly that.”

Set to launch in beta before the 2011 Christmas retail season, miiCard aims to fight internet fraud and protect the consumer by finally solving the issue of trust online.

Changing the way we transact online by providing a system where proof of identity can be validated entirely online and in real-time, miiCard will make online transactions easier, faster and safer. miiCard can be used as an online equivalent to the normal driver’s license, passport or photo ID checks normally conducted not only in Financial Services but a range of industries such as online trading, dating, gambling and social networking. miiCard provides a new layer of trust previously unavailable in a purely online environment.

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 costs the consumer just £1 a month and is charged to the vendor on a transactional basis.

For more information contact: Sarah Lee.

About miiCard

miiCard is a revolutionary “digital passport”, powered by Yodlee, that enables users to prove their identity online for the first time to the same level of authority as a driving licence or passport would do offline. By creating trust in an environment characterised by anonymity and transient identities, miiCard will open up opportunities for business online and put internet users back in control of their personal information.

The inability easily to authenticate a user’s identity online has long posed a significant barrier to trade. Between 70% and 90% of all online financial transactions are terminated when the customer is required to provide physical proof of identity so it is imperative that businesses find a solution.

miiCard is designed to support ecommerce and eradicate this problem by enabling customers to complete complex transactions online without supplying further proof of ID.

Owned and managed by the individual, miiCard gives the user security for their personal data, allowing them to track, monitor and thus take control of their online identity. For businesses selling online to consumers, miiCard improves conversion rates, cuts operational cost and fights internet fraud.

miiCard also benefits users and vendors by creating trust between parties in a purely online environment, increasing convenience, consistency and simplicity of shopping online, speeding up transactions, reducing costs, improving customer satisfaction and easing regulatory compliance.

miiCard closes first funding round and completes MBO

Thursday, September 8th, 2011

miiCard, the revolutionary digital passport, announced today that it has closed its first funding round and completed a management buyout with James Varga appointed CEO. Raising a total of £550K seed funding from VC, angel and the public sector sources, the round was significantly oversubscribed and completed within six weeks.

miiCard, which is set to launch in beta before the 2011 Christmas retail season, aims to fight internet fraud and protect the consumer by finally solving the issue of trust online. From buying a sofa or selling a bike, to finding a flatmate or applying for a new credit card through the Internet, miiCard allows the individual to prove ‘I am who I say I am’ and create trust when transacting online.

Investment has been secured from angel syndicate Par Equity, venture capital group IQ Capital and the Scottish Investment Bank’s Scottish Seed Fund. miiCard has already generated a huge amount of interest from both financial and commercial sectors and over the coming weeks it expects to make a number of high profile appointments of expert advisors and board members.

The idea behind miiCard is to create trust online in the way that a passport or driving licence does offline, as CEO James Varga explains: “From buying and selling online to using social networks, we often need to be able to prove our identity online and in real-time. miiCard will do that by offering an alternative to the traditional offline checks of driver’s licence, passport or utility bill. There is nothing else on the market today that does this, giving miiCard a massive opportunity.

“That is why this funding round has been so well supported by investors. This is a hugely exciting time for the team at miiCard and we are extremely proud that so much confidence has been shown in us. We know that we have an incredible product with countless applications. We are all looking forward to the coming months.”

Changing the way we transact online forever by providing a system where proof of identity can be validated entirely online and in real-time, miiCard will make online transactions easier, faster and safer.

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 costs the consumer just £1 a month and is charged to the vendor on a transactional basis.

For more information contact: Sarah Lee.

About miiCard

miiCard is a revolutionary “digital passport”, powered by Yodlee, that enables users to prove their identity online for the first time to the same level of authority as a driving licence or passport would do offline. By creating trust in an environment characterised by anonymity and transient identities, miiCard will open up opportunities for business online and put internet users back in control of their personal information.

The inability easily to authenticate a user’s identity online has long posed a significant barrier to trade. Between 70% and 90% of all online financial transactions are terminated when the customer is required to provide physical proof of identity so it is imperative that businesses find a solution.

miiCard is designed to support ecommerce and eradicate this problem by enabling customers to complete complex transactions online without supplying further proof of ID.

Owned and managed by the individual, miiCard gives the user security for their personal data, allowing them to track, monitor and thus take control of their online identity. For businesses selling online to consumers, miiCard improves conversion rates, cuts operational cost and fights internet fraud.

miiCard also benefits users and vendors by creating trust between parties in a purely online environment, increasing convenience, consistency and simplicity of shopping online, speeding up transactions, reducing costs, improving customer satisfaction and easing regulatory compliance.

DNS founding director Stuart Fraser appointed by miiCard

Monday, January 31st, 2011

One of Scotland’s leading digital security experts, Stuart Fraser, has been appointed by miiCard as Technical Architect.  As co-founder of specialist IT security consultancy DNS, Stuart’s appointment is a coup for the pioneering digital identity startup.

Over eight years, Stuart helped DNS become the largest provider of security services in the UK before the company was sold last year to SecureWorks, now in the process of being bought by Dell.

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.   Owned and managed by the individual, miiCard allows the consumer to track, monitor and so, for the first time, take control of their online identity.

Stuart  will be responsible for the design and implementation of miiCard’s security token service which will verify user identity to Anti-Money Laundering, Know Your Customer Regulations and the Proceeds of Crime Act standards.

Drawn to the challenge of developing a global digital passport that proves the user’s identity and becomes stronger the more it is used, Stuart says:  “As the threat of internet fraud and identity theft increases it is critical that we find some way of being able to take control of our digital identity.

“Every day we give away our personal data to companies around the world, from Facebook and Google to banks, retailers and government agencies.   And once we have given it away, we have no control over what happens to our identity.  It is vital that we find a way of taking control back and I am very excited about the implications of miiCard for the future of digital identity.”

Stuart’s early career began in the energy sector working for Conoco, BP and Scottish Power before becoming founder director of DNS. Following the sale of DNS, Stuart returned to his studies, recently completing The University of Edinburgh’s MSc in High Performance Computing – specialising in scaling and super computers.

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

miiCard in the news

Thursday, October 21st, 2010

miiCard’s Online Identity Verification service builds trust by proving you really are you, just like your passport or driver’s licence, purely online. See how you can easily manage and protect your Internet Identity here

MiiCard opens API to ID-as-a-Service platform, Finextra, 10 october 2013.

Identity-as-a-Service platform API launched by miiCard,sc magazine, 03 october 2012

miiCard Puts Identity Back In Consumers’ Hands, all digital life, 21 september, 2012

miiCard Puts Identity Back In Consumers’ Hands And Joins Digital Leaders To Promote Online Trust Across Europe, Virtual strategy magazine, 20 september 2012

miiCard identify verification gives Allfiled customers online advantage, Yahoo News, 14 November 2012.

miiCard’s James Varga joins Trust in Digital Life board, FinExtra, 18 September 2012.

Firefish to use online verification service miiCard, The Global Recruiter, 13 August 2012.

miiCard and Firefish to validate job candidates online, HR Review, 10 August 2012.

miiCard works with recruitment software to validate candidates identities, Finovate, 8 August 2012.

miiCard and Firefish to deliver ID verification for job candidates online, IQ Capital Partners LLP, 8 August 2012.

miiCard and Firefish to deliver real ID verification for job candidates, Yahoo News, 8 August 2012.

Firefish to use miiCard ID verification for job candidates, Recruiter Focus, 7 August 2012.

Firefish use miiCard ID verification, Recruiter, 7 August 2012.

miiCard and Firefish to deliver ID verification for job candidates purely online, Online Recruitment, 7 August 2012.

miiCard and Firefish deliver real ID verification for candidates online, Recruitment International, 7 August 2012.

miiCard appoints banking heavyweights to lead global push online, Yahoo News, 31 July 2012.

miiCard appoints new chairman and non-executive director, PaymentEye, 31 July 2012.

miiCard names RBS tech veteran Stephen Brannan chairman, FinExtra, 30 July 2012.

Former RBS tech chief joins miiCard, Scotland on Sunday, 29 July 2012.

How to use miiCard, eSeller Media, 27 July 2012.

Success at Scottish tech awards for miiCard, Bloomberg Businessweek, 25 June 2012.

miiCard has passport for success at Scottish tech awards, Yahoo News, 25 June 2012.

Graham Paterson appointed CFO of miiCard, Yahoo News, 11 June 2012.

SL Capital founder made CFO at miiCard, Real Deals, 11 June 2012.

ID card firm miiCard banks a financial asset, The Scotsman, 11 June 2012.

miiCard appoints Graham Paterson as CFO, FinExtra, 8 June 2012.

miiCard shortlisted for Digital Technology Awards, ScotlandIS, 28 May 2012.

miiCard nominated for three Digital Technology Awards, Contact Centre Solutions Industry News, 28 May 2012.

miiCard shortlisted for three Digital Technology Awards, Yahoo News, 28 May 2012.

miiCard’s digital passport wins $2.6 m funding for US expansion, Wall Street Journal, 1 May 2012.

miiCard secure 1.6 million in funding, Retail Systems, 30 April 2012.

Internet identity firm miiCard raises $2.5m to help your online digital identity, TechCrunch, 30 April 2012.

miiCard raises 1.6 m for US growth, FS Tech, 30 April 2012.

miiCard raises capital for US expansion, Growth Business, 30 April 2012.

miiCard raises 1.6m for US push, FinExtra, 30 April 2012.

Fresh financing round will help miiCard expand, The Scotsman, 30 April 2012.

Edinburgh based online identity firm miiCard secures funding, BBC News, 30 April 2012.

miiCard and Yodlee target US market with digital passport, The Paypers, 24 April 2012.

miiCard targets US market, FinExtra, 24 April 2012.

miiCard expands to SA, India, NZ and Australia, The Paypers, 7 February 2012.

miiCard expands its global presence, FinExtra, 7 February 2012.

Can you prove who you are online?, IT Donut, 30 January 2012.

Top tips to protect your identity, The Scotsman, 21 January 2012.

miiCard becomes TRUSTe sealholder, Finextra, 17 January 2012.

Callcredit and miiCard join forces, Retail Systems, 13 January 2012.

Financial digital passport unveiled, Financial Sector Technology, 11 January 2012.

Callcredit and miiCard team up to launch financial digital passport, Yahoo News, 10 January 2012.

Callcredit and miiCard announce strategic partnership, Forbes.com, 9 January 2012.

miiCard wants to prove your identity like a digital passport, Wired, 9 January 2012.

New trust card could end identification issues online, Metro, 19 December 2011.

Establishing trust within the digital world, SME Focus, 9 December 2011.

Stay safe online this Christmas with miiCard, Vantage Magazine, 1 December 2011.

miiCard launches online Christmas shopping campaign, Daily Finance, 29 November 2011.

miiCard launches safe online shopping campaign, Yahoo News, 29 November 2011.

The Trust Catalyst: who can you trust online, Fresh Business Thinking, 14 November  2011.

miiCard to conduct survey in online dating fraud, Yahoo News, 10 November 2011.

Start-up tackles web identity problem, The Wall Street Journal, 17 October 2011.

miiCard Closes £550K First Funding Round, FinSMEs, 15 September 2011.

MiiCard adds Brannan, Paterson and Ball to board, FinExtra, 8 September 2011.

Scottish firm developing “digital passport”, MyHermes, 3 September 2011.

miiCard Lets Your Prove Your Identity Like a Virtual Driver’s License, NY Times, 1 September 2011

miiCard lets your prove your identity like a virtual driver’s license, Venture Beat, 1 September 2011.

Online ‘passport’ firm raises £550,000, The Scotsman, 1 September 2011.

Innotribe contender miiCard secures funding; completes MBO, FinExtra, 31 August 2011.

miiCard closes funding, VRL Financial News, 31 August 2011.

Innotribe innovating payment processing or self-indulgence?, The Banker, 1 August 2001.

Top tips to avoid identity theft, iVillage.co.uk, 17 March 2011.

R&D at top of agenda for Scottish business, The Scotsman, 15 February 2011.

Digital passport firm miiCard has new digital architect, Banking Technology, 14 February 2011.

Innovation in the banking sector, Asia Research, 1 February 2011.

Fraser’s mii time could be a passport for success, The Scotsman, 29 January 2011.

Digital ‘passport’ proves identity for online transactions, Springwise, 14 December 2010.

miiCard and Yodlee announce digital passport to secure online transactions, Ecommerce Journal, 29 October 2010.

miiCard wants to become your digital passport to ease financial transactions, TechCrunch.co.uk, 21 October 2010.

www.miicard.com


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