| How they describe themselves: miiCard’s digital passport allows a consumer to prove that “I am who I say I am” purely online and in real-time, to an Anti-Money Laundering standard, without the need for a physical ID check. Owned and managed by the individual, miiCard allows the consumer to track, monitor and thus take control of their online identity. For businesses selling online to consumers, miiCard improves conversion rates, cuts operational cost and fights internet fraud.
How they describe their product/innovation: Simply put, we have a catalyst for change in miiCard – a user-centric federated identity that can truly change the way we transact online. A new proposition in the Electronic Identity and Verification (eID&V) marketplace, miiCard for the first time offers the capability to establish online trust purely online and in real time. Whilst other identity providers and credit reference agencies validate information about someone – such as their address, credit rating and, more recently, some have introduced behavioral aspects such as questions about transaction history, miiCard validates that a customer is who they say they are. Equally important to the vendors, benefits to the consumer are:
- Security and control of personal data
- Convenience, consistency and simplicity
- Trust between parties in a purely online environment
miiCard is a federated identity service which means it sits between the consumer and the vendor (or other consumer) and provides a level of trust between parties. miiCard can support not only the UK but North America, Western Europe, India, Australia, New Zealand and soon South Africa.
Key Executives: James Varga (CEO & Founder), Stuart Fraser (CTO).
Key Board Members:
- Stephen Brannan - former Director Royal Bank of Scotland
- Graham Paterson - qualified CA, founding partner of SL Capital Partners LLP
- David Ball - former board member Tesco Bank, senior positions with HBOS, Bank of Scotland and Ernst and Young
Key Investors: Par Equity, Scottish Enterprise, IQ Capital, Angle Investors
Key Advisory Board Members:
- Jeremy Fraser - Legal & Compliance Director at ING Direct, former Head of Legal at Lloyds TSB Scotland (where he was FSA approved for anti-money laundering and compliance oversight)
- Ian Pearson - Economic Secretary to the Treasury until May 2010, over 9 years experience at a senior level in Government; Minister for Trade, Minister for Climate Change and the Environment, Science and Innovation Minister, and as a Minister in Northern Ireland
Key Partnerships: Yodlee
Contacts:
Press: Sarah Lee, pr@miicard.com
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