Chekk

regtechauthentication and fraud prevention

FOUNDING YEAR: 2013
LOCATION: Hong Kong
Last Update: 17/07/2020

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About

Chekk is a Digital Identity platform enabling the shift of personal data ownership from businesses to individuals, to the benefits of both. For consumers, Chekk is a secure data wallet in which users can store their personal data (passport details, membership and payment cards, health information...) and contextualize it by profiles (Banks, Travels, Partners...) For corporate customers and government agencies, Chekk is a platform which enables them to improve customer experience and access up to date customer information (eg., for banks' and insurers' customers due diligence for individuals and businesses at on-boarding and periodic refreshes to feed into AML and sanctions policies; for government's data access and interactions with citizens; for travel agents to gather passport and frequent flyer cards details; for TelCos to manage identity and interact with customers). Chekk has been featured in the World Economic Forum report about Digital Identity (bit.ly/2biQoiV), hand-picked by Sheryl Sandberg and her team in the first five startups for Facebook first ever accelerator (official press release: bit.ly/2jvUfLU, Financial Times: on.ft.com/2iDckU7, TechCrunch: tcrn.ch/2k69Y2C), selected by Citi Group as finalist of the global Tech4Integrity initiative, is actively engaging with regulators across Europe and Asia, and part of the SuperCharger accelerator in Malaysia with partners like Standard Chartered, Allianz and MDEC.

MEDICI Analysis

Chekk is a Digital Identity platform enabling the shift of personal data ownership from businesses to individuals, to the benefits of both. For consumers, Chekk is a secure data wallet in which users can store their personal data (passport details, membership and payment cards, health information...) and contextualize it by profiles (Banks, Travels, Partners...) For corporate customers and government agencies, Chekk is a platform which enables them to improve customer experience and access up to date customer information (eg., for banks' and insurers' customers due diligence for individuals and businesses at on-boarding and periodic refreshes to feed into AML and sanctions policies; for government's data access and interactions with citizens; for travel agents to gather passport and frequent flyer cards details; for TelCos to manage identity and interact with customers). Chekk has been featured in the World Economic Forum report about Digital Identity (bit.ly/2biQoiV), hand-picked by Sheryl Sandberg and her team in the first five startups for Facebook first ever accelerator (official press release: bit.ly/2jvUfLU, Financial Times: on.ft.com/2iDckU7, TechCrunch: tcrn.ch/2k69Y2C), selected by Citi Group as finalist of the global Tech4Integrity initiative, is actively engaging with regulators across Europe and Asia, and part of the SuperCharger accelerator in Malaysia with partners like Standard Chartered, Allianz and MDEC.

Focus

PRODUCTS & SERVICES

For consumers and businesses, Chekk is an easy, secure and reusable data wallet in which users can store their personal data (passport details, membership and payment cards, health information, business registration details...) and contextualize it by profiles (Friends, Work, Banks, Travel agents, Partners...) For corporate customers and government agencies, Chekk is a platform which enables them to improve customer experience to request access to up to date information, reduce cost of customer interaction and due diligence, and lower unwanted customer attrition (eg., for banks' customers due diligence for individuals and businesses at on-boarding and periodic refreshes to feed into AML and sanctions policies; for government's data access and interactions with citizens; for travel agents to gather passport and frequent flyer cards details; for TelCos to manage identity and interact with customers; etc.) Founded and led by a team with extensive experience across the financial industry, technology and multiple continents, Chekk is a B2B2C ecosystem with a mobile solution and a set of APIs, and a next version of the platform already in the works to improve customer experience and add capabilities.

REVENUE MODEL

Chekk is a B2B2C ecosystem, free for consumers and paying for businesses (eg., banks, insurers...) to access the platform and do data requests, secure communication, etc. with customers

PRIMARY PROBLEM SOLVED

Chekk is an open platform which aims at improving interactions between businesses and their customers by providing a better way for them to communicate and exchange data for compliance and commercial purposes. With traditional methods to capture customer due diligence data at on-boarding and for periodic refreshes (eg., branch, contact center...), businesses spend a staggering amount of money (including costs for customer facing and back-office staff, premises, technology...), both at on-boarding and during the periodic mandated refreshes (every 1, 3 or 5 years depending on the customer's risk profile), and often end-up with inaccurate (eg., typos) and outdated customers' data for whom there's not much to gain in the process of letting their bank know that their passport has expired or they recently moved. Whereas by providing value to their end-customers (secure and reusable data exchange), Chekk helps banks make data sharing and updates easy and useful for all, and all this for a fraction of the price of traditional channels and methods. Customer Due Diligence is an $18bn market at maturity across both developed and emerging countries. And Chekk also has additional benefits for banks. With better customer data to comply with the many ever increasing regulations (Anti-Money Laundering, Sanctions evasion, Tax evasion, Anti-Terrorism Financing, Anti-Fraud), Chekk can help bank reduce the likelihood and amplitude of regulatory fines, which have been increasing in occurrence and amounts over the last few years. And the same better data can also feed into the marketing and commercial activities of the banks to increase, to reduce on-boarding times and start selling sooner in the customer journey, but also increase the cross-selling opportunities when more accurate and up-to-date data are taken into account into needs analysis and propensity modeling. Finally, thanks to a better experience, Chekk can also help reducing unwanted attrition of customers which might otherwise be driven away when forced to provide more data to a bank (especially if that one is number two or three in their wallet, which is the case for many customers across most banks, even the largest), whereas with Chekk it's easier to engage with them and request access to the data required to fulfill compliance needs but also to increase chances to turn them into main bank relationships.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

Traction

REVENUE

$0 - $99k in 2016

REVENUE COMMENT:

Pre-revenue

TRANSACTIONS COMMENT:

Not applicable

ACTIVE USERS:

0

ACTIVE USERS COMMENT:

Users in the thousands

TRACTION COMMENT:

Chekk has been featured in the World Economic Forum report about Digital Identity (bit.ly/2biQoiV), hand-picked by Sheryl Sandberg and her team to be one of five startups which Facebook will collaborate with in the personal data space (official press release: bit.ly/2jvUfLU, Financial Times: on.ft.com/2iDckU7, TechCrunch: tcrn.ch/2k69Y2C), selected by Citi Group as a finalist of the Tech4Integrity initiative, is actively engaging with regulators across Europe and Asia, and part of the SuperCharger accelerator in Malaysia with partners like Standard Chartered, Allianz and MDEC.

People

FOUNDERS

Pascal Nizri

Remy Bellavoine

NUMBER OF EMPLOYEES

1-10

INVESTORS:

MOX

SOSV

KEY EMPLOYEES:

Benjamin Petut

COMMENT:

Chekk is led by a great team with 100+ years of deep,relevant professional experience in banking, technology, sales,innovation: Pascal NIZRI - Founder & CEO 15+ years banking experience across countries (France, UK, HK, Australia, Indonesia),disciplines (strategy, business, technology). Pascal founded Chekk,leads it. Remy BELLAVOINE - Co-Founder & Head of Sales 17+ years experience in banking across countries (USA, UK, France, Hong Kong),areas (Global Banking, Audit, Risk, Strategy). Remy co-founded Chekk,leads Sales activities. Clementine HARDY - Head of Operations 18+ years experience in consulting (Kurt Salmon, Accenture) driving strategic,operational IT management across industries (retail, utilities...) Clementine supports operations,clients deployment. Mathieu QUEREUIL - Head of IT Development 13+ years experience in consulting (Accenture), including with French Ministry of Finance, Labor Agency…,mostly around Financial IT. Mathieu leads IT developments. Michael FIRETTO - Head of IT Operations 16 years experience in IT architecture,collaborative platforms acquired across multiple industries (startup, large insurer, construction firm). Michael oversees IT Operations. Benjamin Petit After having co-founded a boutique M&A in Paris supporting SMEs,start-ups, Benjamin came to Asia,gained 13 year experience in large scale private-public utilities projects. Benjamin is leading Chekk business development activities in Hong Kong. Adam BIRD - Australia Country Manager 17 years experience across Asia Pacific working for Westpac, NAB, IBM, agencies… to lead,support digital strategy,transformation. Adam leads activities in Australia.

Momentum

FUNDED

YES

DATE OF LAST FUNDING

Apr 2019

SEED CLOSED ON

Apr 2019

LISTED

NO

EXIT STRATEGY

Contact founders at pascal.nizri@chekk.me

For Investors

FUNDING NEEDED:

$0.00

USES OF FUNDS RAISED:

1. Contact founders at pascal.nizri@chekk.me

EXIT STRATEGY

Contact founders at pascal.nizri@chekk.me

MONTHS LEFT WITH CURRENT CASH BURN RATE:

12 months from 12 Sep, 2018

Innovation Programs

BASICS

FOUNDING YEAR:

2013

LOCATION:

Hong Kong

Views:

330 VISITORS | 520 VIEWS
TOTAL EMPLOYEES
1-10

About

Chekk is a Digital Identity platform enabling the shift of personal data ownership from businesses to individuals, to the benefits of both. For consumers, Chekk is a secure data wallet in which users can store their personal data (passport details, membership and payment cards, health information...) and contextualize it by profiles (Banks, Travels, Partners...) For corporate customers and government agencies, Chekk is a platform which enables them to improve customer experience and access up to date customer information (eg., for banks' and insurers' customers due diligence for individuals and businesses at on-boarding and periodic refreshes to feed into AML and sanctions policies; for government's data access and interactions with citizens; for travel agents to gather passport and frequent flyer cards details; for TelCos to manage identity and interact with customers). Chekk has been featured in the World Economic Forum report about Digital Identity (bit.ly/2biQoiV), hand-picked by Sheryl Sandberg and her team in the first five startups for Facebook first ever accelerator (official press release: bit.ly/2jvUfLU, Financial Times: on.ft.com/2iDckU7, TechCrunch: tcrn.ch/2k69Y2C), selected by Citi Group as finalist of the global Tech4Integrity initiative, is actively engaging with regulators across Europe and Asia, and part of the SuperCharger accelerator in Malaysia with partners like Standard Chartered, Allianz and MDEC.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Chekk is a Digital Identity platform enabling the shift of personal data ownership from businesses to individuals, to the benefits of both. For consumers, Chekk is a secure data wallet in which users can store their personal data (passport details, membership and payment cards, health information...) and contextualize it by profiles (Banks, Travels, Partners...) For corporate customers and government agencies, Chekk is a platform which enables them to improve customer experience and access up to date customer information (eg., for banks' and insurers' customers due diligence for individuals and businesses at on-boarding and periodic refreshes to feed into AML and sanctions policies; for government's data access and interactions with citizens; for travel agents to gather passport and frequent flyer cards details; for TelCos to manage identity and interact with customers). Chekk has been featured in the World Economic Forum report about Digital Identity (bit.ly/2biQoiV), hand-picked by Sheryl Sandberg and her team in the first five startups for Facebook first ever accelerator (official press release: bit.ly/2jvUfLU, Financial Times: on.ft.com/2iDckU7, TechCrunch: tcrn.ch/2k69Y2C), selected by Citi Group as finalist of the global Tech4Integrity initiative, is actively engaging with regulators across Europe and Asia, and part of the SuperCharger accelerator in Malaysia with partners like Standard Chartered, Allianz and MDEC.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

Innovation Programs

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Chekk

About

Chekk is a Digital Identity platform enabling the shift of personal data ownership from businesses to individuals, to the benefits of both. For consumers, Chekk is a secure data wallet in which users can store their personal data (passport details, membership and payment cards, health information...) and contextualize it by profiles (Banks, Travels, Partners...) For corporate customers and government agencies, Chekk is a platform which enables them to improve customer experience and access up to date customer information (eg., for banks' and insurers' customers due diligence for individuals and businesses at on-boarding and periodic refreshes to feed into AML and sanctions policies; for government's data access and interactions with citizens; for travel agents to gather passport and frequent flyer cards details; for TelCos to manage identity and interact with customers). Chekk has been featured in the World Economic Forum report about Digital Identity (bit.ly/2biQoiV), hand-picked by Sheryl Sandberg and her team in the first five startups for Facebook first ever accelerator (official press release: bit.ly/2jvUfLU, Financial Times: on.ft.com/2iDckU7, TechCrunch: tcrn.ch/2k69Y2C), selected by Citi Group as finalist of the global Tech4Integrity initiative, is actively engaging with regulators across Europe and Asia, and part of the SuperCharger accelerator in Malaysia with partners like Standard Chartered, Allianz and MDEC.

Focus

PRODUCTS & SERVICES

Chekk is a modular end-to-end Customer life cycle management digital platform which enhances customer's experience and helps banks, insurers and corporates by providing seamless on-boarding solutions, accurate verification services (eKYC), and on-going interaction capabilities. For banks, Chekk is a digital solution to on-board new customers (data collection), verify their information (eKYC, ID&V) and manage on-going interaction (chat, statements, alerts...). To do so, Chekk integrates a web portal banks can use to manage interactions with their customers (data request, chat, statements...) For bank customers, Chekk works as universal data wallet. Personal information can be stored, organised in a secure digital wallet which enables users to share their information with requesting parties and re-use these information anytime. For users (bank customers) Chekk offers a mobile application for bank customers to store and organise their data (data wallet).

REVENUE MODEL

Chekk is a B2B2C ecosystem, free for consumers and paying for businesses (eg., banks, insurers...) to access the platform and do data requests, secure communication, etc. with customers

TOP PROBLEM SOLVED

Chekk is coming from the opposition of 2 forces: - On one side, consumers are becoming more privacy aware and protective of their personal data following the many security breaches and stories of social engineering. Customers want at the same time security, privacy and convenience; - On the other side, digital strategies and regulation (Anti Money Laundering) ...) are forcing companies to know more about their customers and collect and refresh an ever increasing amount of data. The only way to reconcile these two forces is to transfer back the ownership of personal data from businesses to individuals, for the benefits of both. This is what Chekk enables: users /bank customers to be empowered with the control of their digital life while the businesses collects and manages an increasing amount of data in a friendly and easy way. ==> Customers'experience is enhanced, on-boarding process becomes convenient, painless and seamless for the client while the bank is complying with the stringent regulation (AML, GDPR)

PRODUCT DEVELOPMENT STAGE

MARKET TRIAL

PRODUCT DEVELOPMENT COMMENT

Chekk is a B2B2C ecosystem with a mobile solution and a set of APIs, enabling digital identity and personal data management, creation of profiles to contextualize personal data shared with specific businesses (eg., banks, insurers, telcos, travel companies...), data access requests by businesses, and secure communications / chats between businesses (eg., banks) and their customers. The next version of the platform (soon to be available) will improve customer experience and add capabilities (eg., OCR and documents recognition to simplify data entry; data and documents verification across many countries; corporate dashboard to enable workflow management and remediations; web services to be embedded into corporate customers' online journeys).

KEY DIFFERENTIATORS

Other companies are starting to position themselves in this nascent digital identity and personal data space, with different levels of maturity and usefulness to their solution. These include (i) businesses / Financial Institutions themselves, which by not placing customers in control and not offering cross-businesses solution can only partially solve the problem and need solutions like Chekk; (ii) data verification companies which have access to very large sets of data about many individuals around the world but are limited by privacy laws and restrictions because individuals aren't included in the process, and which can actually become partners for Chekk; (iii) other startups being created in this space, which however rarely place consumers in control and even when they do, usually don't strike the right balance between what's in it for consumers and businesses, like Chekk does; and (iv) social networks, which will want to play a larger role in the personal data space but are often limited by their own business model and consumers trust, and will look to partner with organizations like Chekk. With its experienced team with knowledge of the market and problem; its solutions helping both consumers and businesses for customer due diligence; and its approach empowering individuals with their identity and personal data cross-businesses, industries and borders; Chekk is uniquely positioned to succeed.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Others

Small And Medium Business - Other

PRODUCT ATTRIBUTES

SaaS

White label

Customer facing

STRATEGIC CLIENTS AND PARTNERSHIP

HSBC Holdings : Chekk was selected by HSBC in the Top 5 FinTech priorities for 2017

Citigroup : Chekk was a finalist of Citi Group Tech4Integrity programme and is currently under NDA

Standard Chartered : As a one of the rare startups selected by SuperCharger in Malaysia with partners like Standard Chartered, Allianz and MDEC, Chekk is currently exploring collaboration opportunities with Standard Chartered

Allianz : As a one of the rare startups selected by SuperCharger in Malaysia with partners like Standard Chartered, Allianz and MDEC, Chekk is currently exploring collaboration opportunities with Allianz

Facebook : Chekk has been hand-picked by Sheryl Sandberg and Facebook to collaborate in the Digital Identity and personal data space

People

FOUNDERS

Pascal Nizri

Remy Bellavoine

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO, FOUNDER: Pascal Nizri

CTO: Mathieu Quereuil

COO: Clementine Hardy

CRO, FOUNDER: Remy Bellavoine

Head of Business Development APAC: Benjamin Petut

TEAM COMMENT:

Chekk is led by a great team with 100+ years of deep,relevant professional experience in banking, technology, sales,innovation: Pascal NIZRI - Founder & CEO 15+ years banking experience across countries (France, UK, HK, Australia, Indonesia),disciplines (strategy, business, technology). Pascal founded Chekk,leads it. Remy BELLAVOINE - Co-Founder & Head of Sales 17+ years experience in banking across countries (USA, UK, France, Hong Kong),areas (Global Banking, Audit, Risk, Strategy). Remy co-founded Chekk,leads Sales activities. Clementine HARDY - Head of Operations 18+ years experience in consulting (Kurt Salmon, Accenture) driving strategic,operational IT management across industries (retail, utilities...) Clementine supports operations,clients deployment. Mathieu QUEREUIL - Head of IT Development 13+ years experience in consulting (Accenture), including with French Ministry of Finance, Labor Agency…,mostly around Financial IT. Mathieu leads IT developments. Michael FIRETTO - Head of IT Operations 16 years experience in IT architecture,collaborative platforms acquired across multiple industries (startup, large insurer, construction firm). Michael oversees IT Operations. Benjamin Petit After having co-founded a boutique M&A in Paris supporting SMEs,start-ups, Benjamin came to Asia,gained 13 year experience in finance,business development across Asia working for MNCs. Benjamin is leading Chekk business development activities in Hong Kong. Adam BIRD - Australia Country Manager 17 years experience across Asia Pacific working for Westpac, NAB, IBM, agencies… to lead,support digital strategy,transformation. Adam leads activities in Australia.

INVESTORS:

MOX

MOX

MOX

MOX

MOX

SOSV

SOSV

SOSV

SOSV

SOSV

Momentum

FUNDED

NO

LISTED

NO

FUNDING SERIES
Seed Jul 2018 --- USD0.00 at a USD0.00valuation Comment on Seed Seed funding done by founders to the tune of several hundreds thousands US dollars. Please, contact the founders at pascal.nizri@chekk.me for more details

Comment on Valuation

Contact founders at pascal.nizri@chekk.me