News

  • miiCard Participates in NSTIC Pilot for State of North Carolina eID Program

    St Louis, MO - September 17, 2014 – Bring Your Own Identity (BYOID) provider miiCard today announced it was selected to participate in a White House National Strategy for Trusted Identities in Cyberspace (NSTIC) pilot. The project, worth $1.47 million, is led by MorphoTrust for the state of North Carolina to prove the security and application of an electronic ID (eID) as the online equivalent to a state-issued driver’s license. miiCard’s digital passport technology will help demonstrate the extensibility of the eID when used for other commercial services.

    miiCard delivers trust online through the only global consumer centric identity service that follows the NSTIC guiding principles of privacy, security, interoperability and viability. As part of this pilot project, North Carolina residents will be able to use their MorphoTrust issued eID as the proof of identity necessary to obtain a miiCard. This miiCard reusable digital passport then extends the credentials of the eID for other commercial services, including web-based mortgage applications, access to electronic personal health records, or other high value online transactions. This capability replaces having to physically apply for services or scan and send electronic versions of a driver’s license. 

    Today, miiCard requires consumers use online banking credentials to verify identity. A successful pilot will prove the ability of a MorphoTrust issued eID, with the established trust of a driver license, to offer the same level of trust necessary to obtain a miiCard passport, enabling even more consumers to participate in high value online transactions. In turn, businesses can offer more services to reduce costs for consumers and expand what is possible online.

  • Innovate Finance, a new industry body for the UK Fintech Industry, launches today in London with over 50 founding members

    London, UK – 6 August 2014 – Innovate Finance, an industry body established to promote the interests of the UK’s rapidly growing financial technology (fintech) sector, launches today in London. Held at Level39, the launch was attended by over 250 of the country’s most senior representatives across the fintech community, financial services industry, government and media.

    Innovate Finance is a new industry organisation that will accelerate the UK's leading position in the global financial services sector by directly supporting the next era of technology-led financial services innovators – whether they be young start-ups or established industry players. The body aims to be the voice of a new movement that believes in the immense transformative power of technology to improve every aspect of banking, finance and commerce. It will champion the UK as the undisputed centre of sustainable financial services and technology innovation, cultivate business opportunities for start-ups and drive diversity of choice for consumers.

    The organisation launches today with over 50 founding members (refer to Editor’s Notes below for details). It will provide a single point of access to key industry influencers, clients, technologies, talent, finance and international marketplaces. Members are currently comprised of pre-revenue startups and multinational corporations across the insurance, retail & investment banking, technology, payments, remittance, crowdfunding and alternative finance sectors, among others. Driven by a team of fintech entrepreneurs, the organisation is wholly dedicated to growing the UK fintech sector.

  • eMerchantPay and miiCard Cooperate to Eliminate Payments Fraud and Enable High Value Transactions

    Cambridge, MA/Innovation Project, Booth #8 – Mar 20, 2014 – Online identity proofing service miiCard today announced a cooperation with eMerchantPay, a trusted international payment processor, to offer its merchants a secure, compliant payment processing platform in combination with the miiCard service that eliminates payment fraud and enables higher value transactions. miiCard is featured today at booth #8 in Annenberg Hall on the Harvard University Campus as part of PYMNTS.com Innovation Project 2014.

    miiCard’s patented identity verification solution, enables merchants around the world to conduct high value transactions purely online while eliminating identity-related chargebacks and Card Not Present fraud.  As a consumer-driven identity service, miiCard provides a seamless, real-time verification experience before the payment process that establishes the customer’s identity to the same level as an in-person photo ID check.

    “Online fraud - identity fraud in particular - is an enormous problem and growing bigger every day, forcing merchants to find effective and efficient ways to minimize risk without infringing on the user experience,” said miiCard CEO James Varga. “miiCard and eMerchantPay help merchants eliminate fraud while also empowering them to expand their business with new, higher value products and services that can outpace the competition.”

    Former SWIFT CEO Joins Security and Finance Experts as New Additions to miiCard Board

    Edinburgh, UK – January 30, 2014 – Online identity proofing service miiCard announced that former SWIFT Chief Executive Officer Lázaro Campos, previous Vice President of SecureWorks Richard Lewis, and prior Clydesdale executive Kenny White have all joined the company’s Board of Directors. These experienced executives will help guide miiCard as it continues to gain traction in key financial markets. Mr. White has also joined miiCard as Chief Financial Officer.

    “miiCard is actively turning the tide against online identity fraud -- one of the most pressing problems facing financial technology companies today,” said Mr. Campos. “I look forward to helping this bank-centric disruptive solution further advance trust online.”

    Identity fraud is increasing at a rapid rate because the background checks, knowledge-based assessments, and documents scans used as identity verification tools have been compromised or discourage consumers. It is estimated that ID theft costs businesses $21 billion annually in the US alone, with nearly half of these fraudulent transactions occurring online. Further, every $1 in fraud costs a business more than $3 in total losses. miiCard’s patented Identity Service (IDaaS) can be deployed in just hours and reduces fraud by more than 80% within the first 30-days.

  • miiCard Builds on Recent Momentum and Vision for Linking Physical and Digital Identity with myrentalcv Partnership

    Edinburgh, UK – December 12, 2013 – Online identity proofing service miiCard today announced that it will help power ID verification for myrentalcv’s tenant screening platform to ensure quick and secure references for agents and landlords. myrentalcv is changing the traditional letting model by bringing together all the essential tenant information that agents need to quickly and securely make a decision about a tenant’s suitability online. This partnership builds on recent miiCard customer announcements, its selection to new U.S FinTech incubator SixThirty, and the company being named the fastest growing startup in Edinburgh by Mattermark.

    “To complete any high value transactions online, it is critical to first make a direct connection between one’s physical identity and digital persona,” said miiCard CEO James Varga. “We are excited about myrentalcv’s approach to changing the rental industry, and we are pleased that our identity proofing solution will help secure an environment so that agents and tenants can confidently connect and rent properties online.”

    myrentalcv brings together all the information required to rent a property conveniently and securely in one place. miiCard confirms a tenant’s identity to the same level as an offline ID check, but purely online and in just minutes. Tenants need only set it up once, then they can aggregate information over time to use as a comprehensive and up-to-date means of demonstrating suitability for future rentals. myrentalcv partnered with miiCard to reduce the administrative overhead associated with in-person ID document checks and combat fraud from reliance on data checks, while making it easy for agents to review and approve potential tenants purely online.

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