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.