Understanding money center banks
Olov Renberg is co-founder and COO of Stockholm’s BehavioSec which can verify a person’s identity by the way he types in a password, the way he moves a mouse movements or even by his swipe on a smartphone. DARPA calls it continuous authentication — the system can tell if an unauthorized user is sitting at someone’s desk and typing into his computer.
Renberg said that dealing with London banks is far more complex than Scandinavian banks where his firm might have a single security officer to talk with. Working with a major City bank requires access to the right people and BehavioSec has a chaperone who is helping with introductions.
“We have gotten the attention of the right people; now we have to convince them this is the next thing.”
Read the whole Forbes article about the program
Are you wondering about the magnificent view from our London Office? It is all part of a program called Fintech Innovation Lab- modelled after a similar programme from New york
It is an Accenture-Supported Programme to Foster IT Innovation in Financial Services that Attracts Entrepreneurs to London
The seven start-ups — chosen by leading industry executives from a large field of applicants from the UK and internationally — include: BehavioSec, Calltrunk, Digital Shadows, Growth Intelligence, Kiboo, Open Bank Project and Waratek. Their innovations range from cloud development tools and “Big Data” security and analysis applications, to search engines for voice recordings, “behavioural biometric” solutions for fighting fraud, open source technologies, and personal financial management tools for young people.
Supporting financial institutions include Bank of America Merrill Lynch, Barclays, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Lloyds Banking Group, Morgan Stanley, RBS, UBS and VocaLink, the UK national payments infrastructure provider. Other participating organisations include Euclid Opportunities, the Greater London Authority and UK Business Angels Association.
We are super excited to be in such good company, oh and did we tell you that the coffee comes out of the tap?
Read the full Fintech press release