MEDICI now! Startup Stories highlights the companies that are shaping the new financial technology industry. Keep an eye out each week for new stories! If you or someone you know should be highlighted, send us a note. Without further ado…
Company Name: SentryCom Name/Title: Eli Talmor, CEO Industry Segment (PFM, lending, etc.): Security: Fraud and Authentication Target: Markets (region or country): US, Europe
LTP: Tell us a little bit about yourself.
Eli Talmor: I have Ph.D. in Physics from Technion-Israel Institute of Technology. I'm a serial entrepreneur with two previously successful ventures, inventor of multiple patents in various fields, investor, Founder and CEO of SentryCom.
LTP: Give us a paragraph pitch of your company.
ET: SentryCom is developing software services to help internet users to securely interact with other people and online services in order to access the web or mobile apps or IoT devices, transfer money, buy goods online, share confidential files or post important information.
LTP: In a sentence or two, what problem are you solving today?
ET: About 65% of Internet users are worried that their personal information is being compromised due to data breaches, whih may cause identity theft. Sentrycs Digital Identity "disables" personal information from being the source of Internet identity and enables to "restart" using the Internet, free from identity theft and identity fraud.
LTP: Who are you selling to?
ET: Banks and financial institutions, mobile operators, government, healthcare. Specifically, banks and financial institutions because they know their customer’s identity. They can directly benefit from reducing identity theft and identity fraud, providing value-add service for their customers, thus enabling additional revenue stream.
LTP: Why did you start the company?
ET: Identity theft and identity fraud is a huge problem. IDC predicts that by 2020, one-quarter of the world's population will be affected by data breaches. Finding a solution to this problem is a huge challenge, and I enjoy addressing big challenges.
LTP: What's the most important change coming to your segment in the next 3-5 years?
ET: The cyber industry realizes that protecting the perimeter using firewalls and antiviruses is failing. To address this problem, the cyber industry says that “identity is the new perimeter.” We are here to deliver it.
LTP: What’s your next milestone?
ET: We are competing with other great companies at CITI T4I 2017 Challenge in the Identity category. We are also competing in BBVA Open Talent in the Identity category and Matchi ATB Financial in the Identity category. It looks like the FinTech industry finally realizes that identity is an important issue.
LTP: Anything else you want to say to our audience?
ET: For a long time, the FinTech industry was focusing on protection of Personal Identifiable Information (PII) as the defense from identity theft. The problem is that PII is stored in too many places. Once it is stolen, it is gone. We need another strategy. I would be glad to discuss it. Please contact me at email@example.com.
LTP: Thank you, Eli Talmor!
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