FCA TechSprint March 2017

21st March 2017

On the 14th & 15th of March, members of the iProov team participated in the 3rd two-day TechSprint organised by the Financial Conduct Authority (FCA) and hosted by PwC on the theme of "Money and Mental Health".

The FCA is working with the Money and Mental Health Policy Institute to achieve real change by bringing together financial services and technology organisations, encouraging the industry to come up with practical innovative solutions that address the challenges faced by those with mental health problems and their financial services providers.

The solutions developed collaboratively over the two days by cross-organisational teams including developers and designers from iProov, Monzo, Aire, Hitachi Data Systems, Lloyds Banking Group and Nationwide Building Society included "the NIV-Bot" (a chat bot which allowed users to delegate access responsibility using iProov), "MoneyBuddy" (a solution to help enable better financial decisions, including a trusted buddy, user mood feedback, and improved user accessibility) and "Money Jars" (allowing users to set aside their fixed monthly costs in protected "jars").

FCA TechSprint iProov Media

CyberUK 2017 Roundup

20th March 2017

A very exciting three days for iProov at the NCSC's CyberUK event! Held at the ACC Liverpool from 14-16 March, CyberUK is the Government’s biggest and most influential IA and Cyber Security event to date, hosted by the National Cyber Security Centre (NCSC).

Our team was busy showing the iProov Verifier solution for authentication and remote onboarding to delegates at our stand in the Innovation Zone (sponsored by the DCMS) of the conference.
On the first day, CEO & Founder Andrew Bud delivered a Dragon's Den-style pitch (an initiative of the DCMS Cyber Security Growth team) to the NCSC's Dr. Ian Levy, Jon L and Rob T. After facing the "dragons'" questioning, iProov was chosen as the winner of the competition, which was announced by Ciaran Martin (Director, NCSC) during the conference.

The reward for the winner is assistance from the NCSC that will be tailored to suit the selected product or service. It could take the form of developing, assessing and piloting their product or service. It may include consultancy on the technology, targeted penetration testing of the product to improve its security, or potentially working with a government department to test deploy the offering.

After winning the competition, the iProov team also had the opportunity to give a 4-minute presentation on the conference's Spotlight Stage during the networking evening of day 2 and was featured on BBC Radio4's You&Yours and itv's Good Morning Britain.

CyberUK iProov Media

Here are the links to some of the highlights:
NCSC Blog Post "In the Den with the Dragons"
NCSC News "Cyber Security summit closes with commitment to a more diverse future"
ComputerWeekly.com "NCSC commits to greater diversity"
Wookbox.com "NCSC devotes to higher variety"
BBC Radio4 You&Yours "Cyber UK, Mobile phone charges, Granny chic"

Read more about CyberUK

FinTech conference a success: Official

The Hindu logo11th March 2017, Visakhapatnam, India

"The State government’s maiden two-day FinTech Spring Conference-2017 concluded here on Friday on a high note with over 15 agreements being signed. [...] The conference saw over 300 participants, who included 30 international delegates and a 20-member delegation headed by Monetary Authority of Singapore. In all, 150 entries were received from across 15 countries for the FinTech Valley Start-up Challenge."

iProov was selected as the winner of HDFC Life startup challenge as well as the winner for the overall Insurance category across 3 challenges (ICICI Lombard, HDFC Life, Bharti AXA).

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Finovate Europe 2017 Roundup

14th February 2017

Two very exciting days at Finovate Europe in London for the iProov team:

iProov Finovate demo

Our first live demonstration was of the BT Agile Bank prototype app, which is currently in BT's Innovation Showcase in Adastral Park. Here, the iProov SDK was seamlessly integrated into the banking app for simple and secure account login purposes. It then repelled an attack with a retina video of Matthew blinking and smiling.

Mobile iOS data vault application FaceCrypt was demonstrated next. This app, which is available on the App Store today, uses iProov to protect access to sensitive personal data such as passwords and credit card numbers.

The final live demonstration showed a revolutionary mobile onboarding app in action.  Armed only with a passport and an Android phone, DNB Innovation Lead Ronny Khan showed how a user can be securely verified for KYC/AML purposes.  This app, which generated enormous interest, was developed using the ReadID product of our partner, Dutch ID document experts InnoValor.

DNB app demo screen

Using InnoValor's ReadID technology to scan the MRZ information and read the embedded NFC chip of the passport, the thus obtained high-quality image of the passport holder is used to authenticate against an iProov selfie capture to make sure that the correct person is physically present for the onboarding process. 

A video of the whole 7-minute presentation coming soon, but in the meanwhile you can see the onboarding demo at the link below:

Watch the onboarding demo

The future of banking security: take a glimpse at the BT Adastral research centre

BT Adastral Showcase8th February 2017

"The business of banks relies on keeping savings safe, but hackers are finding ever more sophisticated methods to access them.
Swindlers stole £755 million across payment cards, remote banking and cheques in 2015 according to Financial Fraud Action UK, an increase of 26 per cent compared to 2014. The declining cost of technology is lowering the barriers to entry for budding fraudsters, while emerging technologies give them new methods of theft.

However the banking sector is developing solutions to match them. BT showed Techworld some future security solutions at its Adastral Park research centre in Suffolk..."

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