BehavioSec CEO Neil Costigan 40 most influential in Fintech
Chief Executive, BehavioSec, Luleå, Sweden
A 17-year financial technology veteran, Costigan, 46, first advised the co-founders of the Swedish biometric technology platform BehavioSec before joining the firm as chief executive three years later in 2011. Launched by Olov Renberg, Kristofer Nygren and Peder Nordström in 2007 as a spin-off from their research as students, the firm verifies the identities of users by analyzing the unique patterns in their interaction with technology, such as how they type on their computers or mobiles.
Under Costigan’s tutelage, and with €1.2 million of seed funding from venture capital investors including Conor Venture Partners and Partner Invest Norr, BehavioSec is emerging as an important security service provider to large financial institutions. Clients include Denmark’s Danske Bank, which uses BehavioSec’s anti-fraud technology to secure its internet banking operations. BehavioSec secured a place as one of seven companies on Accenture’s first FinTech Innovation Lab in 2013. It hopes to raise €4.5 million from UK investors to expand and integrate BehavioSec’s software into mobiles, as the use by banks of mobile transaction banking and trading services increases.