MEDICI now! startup stories highlight the companies that are shaping the new FinTech industry. On the quest to shed light on some of the most talented FinTech entrepreneurs developing innovative technology solutions for the financial sector, the LTP Team had the pleasure of interviewing Yair Finzi, Co-founder & CEO of SecuredTouch, a technology startup that is transforming human interaction with connected devices to digital identity solutions.
LTP: Please tell us about yourself.
Yair Finzi: I’m Yair Finzi, Co-founder of SecuredTouch. Ran Shulkind, my Co-founder, and I met when we were in the cybersecurity department of the Israel Defense Forces. We got the idea for SecuredTouch when we were playing around with the ideas of what would make something so personalized that it’d be hack-proof. After agreeing it was "physical movements," we came up with the idea for SecuredTouch.
LTP: Give us a paragraph pitch for your company.
Yair Finzi: SecuredTouch behavioral biometrics technology focuses directly on the user, unlike conventional authentication methods that rely on passwords, device fingerprinting or geolocation. Machine learning algorithms collect and analyze a dynamic set of more than 100 behavioral parameters, continuously verifying users' identities by analyzing their physical behavior, flagging fraud, and non-human traffic. SecuredTouch technology enables customers to continue using apps without the constant security intrusions that cause friction, such as reentering passwords and captchas. With SecuredTouch, customers actively keep transacting instead of verifying.
LTP: In a sentence or two, what problems are you solving today?
Yair Finzi: Businesses struggle to overcome the conflict between the mobile user experience and security. Requiring usernames, passwords, and security questions creates friction and stops people from using their services or leads them to abandon transactions. Behavioral biometric technology analyzes how users interact with their devices, producing a dynamic digital profile to continuously authenticate their identities without requiring consumers to do anything.
LTP: Who are you selling to?
Yair Finzi: We’re currently focusing on financial institutions and companies with a large volume of mobile users and/or solid investments in digital mobile channels. Our customers want to grow ROI with an increase in transaction completion while being able to simultaneously mitigate risk.
LTP: How does SecuredTouch differentiate from competitors?
Yair Finzi: SecuredTouch is the only vendor that started from and focuses on the mobile channel, with complete plug and play integration.
The solution can also be pre-installed on mobile devices as part of their Android operating system build, giving mobile device users will have the ability to use behavioral biometrics throughout their device, not just in specific apps that use the technology.
SecuredTouch has already won multiple head-to-head evaluations made by leading financial institutes worldwide.
LTP: How do you address non-human threats?
Yair Finzi: SecuredTouch behavioral biometrics technology was developed to analyze human interaction with their mobile devices, so it is fine-tuned to immediately and continuously discover non-human device activity/fraud. The system recognizes scripted attacks, malware, and BOTs using advanced machine learning, correlating data from different sensors to differentiate between human and non-human and between real devices and emulators. It detects and sends alerts about attacks from emulators and virtual machines by recognizing suspicious mobile traffic.
LTP: What is the next milestone you have for the company?
Yair Finzi: We are working on a mass expansion of our solutions’ presence within world-leading fraud platforms. We’re already on the way via strategic partnerships and direct OEM relationships with major technology companies.