May 22 - EyeVerify, mobile authentication pioneer and sole provider of the "Eyeprint Verification System," has announced the availability of its solution to the banking and financial services sectors. Banks, credit unions, investment firms, payment systems and other players can now use the Eyeprint to secure their employees' access to vital corporate systems, to secure enterprise customers' ability to make large transactions and to secure consumers' retail financial activity.
According to a recent study by the US Federal Reserve, concerns about the security of technology were the primary reason given by those not using mobile payments (42%) and the second most common reason given by those not using mobile banking (48%).
"We are impressed by the desire of firms in the banking and financial services industry to replace complex, vulnerable pin and password schemes with a safe, simple, secure alternative," said Toby Rush, CEO and founder of EyeVerify. "Since the recent releases of our Android and iOS apps and SDKs to more than two dozen beta and pilot program applicants, we've been very pleased with their reaction and plans to implement."
EyeVerify also announced that it closed its Series A financing round of $2.3M last week. Participants included returning investors from the 2012 seed round of $1.5M, including Think Big Ventures and Nebraska Angels, plus new investors including Mid America Angels. The new round of funding will be used to accelerate deployments with major customers, add new features that appeal specifically to the financial sector and grow the marketing and sales team.
Herb Sih, managing partner at Think Big Ventures, said, "We are excited about the traction that EyeVerify has with security-minded market segments, especially banking and financial services. Meeting this market demand for near term pilots and subsequent commercial programs is one of the primary reasons that Think Big is participating in the EyeVerify Series A."
EyeVerify also announced that it has received a Notice of Allowance from the U.S. Patent and Trademark Office for its fourth patent. This patent covers EyeVerify's technology for the quality metrics and feature set that enable the high accuracy matching for the Eyeprint.
EyeVerify's Eyeprint Verification System is currently available via an exclusive beta program.
EyeVerify offers accurate, simple and secure mobile identity protection and access to highly personal information with just a glance using existing smartphones. EyeVerify's patented vascular Eyeprint Verification System uses built-in cameras in today's mobile devices to image and then pattern match blood vessels in the whites of users' eyes, ensuring highly accurate, fast and convenient mobile, digital identity protection, without requiring additional hardware for businesses or end users. Learn more at www.eyeverify.com.