EyeVerify explained

EyeVerify
Type:Private
Foundation:2012
Founder:Toby Rush
Location City:Kansas City, Missouri
Key People:CEO/Founder Toby Rush
CFO Tom Jantsch
Chief Scientist Reza Derakhshani
VP Engineering Jeremy Paben
EVP Global Sales & Marketing Chris Barnett
Industry:Biometrics
Parent:Ant Group
Homepage:http://eyeverify.com/

EyeVerify, Inc. is a biometric security technology company based in Kansas City, Missouri owned by Ant Group. Its chief product, Eyeprint ID, provides verification using eye veins and other micro-features in and around the eye. Images of the human eye are used to authenticate mobile device users. EyeVerify licenses its software for use in mobile banking applications, such as those offered by Tangerine Bank,[1] NCR/Digital Insight[2] and Wells Fargo.[3] [4]

About

EyeVerify is part of the Kansas City Crossroads neighborhood alongside several other tech companies.[5] EyeVerify's flagship product is Eyeprint ID, a system that authenticates users by recognizing patterns of blood vessels visible in the sclera, the whites of the eyes,[6] as well as other eye-based micro-features.[7]

An independent assessment by iBeta determined that Eyeprint ID meets the requirements for inclusion as a built-in subsystem in an Electronic Prescription of Controlled Substance (EPCS) Application.

History

Entrepreneur Toby Rush founded the company in 2012, some months after visiting the lab of University of Missouri-Kansas City professor Reza Derakhshani, who developed the eye vein verification technology. Derakhshani holds the patent to Eyeprint ID and now serves as the company's chief science officer.[8] [9]

In September 2016, EyeVerify was acquired by Ant Group for $100 million.[10]

Investors

In September 2016, Ant Group, the financial services arm of Alibaba Group, acquired EyeVerify for an estimated $100M.[11]

Prior to that, Wells Fargo, Sprint, Qihoo 360 and Samsung Electronics had invested more than $6 million in EyeVerify. Mid-America Angels and Nebraska Angels were also investors.[12] [13]

The company was an early participant in the Wells Fargo Startup Accelerator for innovators in mobile security.[14]

Partners/customers

Financial services

In April 2016, Tangerine Bank became the first Canadian financial institution to offer Eyeprint ID.[15] The same month, Wells Fargo discussed its summer 2016 implementation of Eyeprint ID with the Wall Street Journal. The large bank mentioned that it had "tested voice and facial recognition technologies but found that each was subject to vagaries in the environment," and that "Eyeprint ID works correctly more often and is more discrete."[16]

In October 2015, RSA Security added Eyeprint ID to its Adaptive Authentication Software Development Kit, after extensive evaluation of the technology, to provide in-app biometric step up authentication for high risk login and transactions.[17]

EyeVerify and Olcsan CAD announced a partnership to offer Eyeprint ID to institutions in Turkey and other European countries. Their first project was to integrate with Vodafone Turkey's mobile wallet, Vodafone Cep Cuzdan.[18] [19]

Mountain America Credit Union conducted a beta launch of Eyeprint ID as part of its dual biometric authentication system, making it the first financial institution officially to launch Eyeprint ID in the United States.[20]

Digital Insight, a division of NCR, announced in February 2015 that it would incorporate Eyeprint ID into its mobile banking platform.[21] As of October 30, 2015, five Digital Insight Financial Institutions use Eyeprint ID in their mobile banking app: Service Credit Union,[22] Arizona Federal Credit Union,[23] Community America Credit Union,[24] First Internet Bank[25] and Evansville Teachers Federal Credit Union.[26] By the end of 2016, dozens of Digital Insight credit unions had launched Eyeprint ID.[27]

EyeVerify also has partnerships with other technology companies that serve the financial services industry, including Comarch, Hypr and BioConnect.[28] [29] [30]

Spoofing and liveness detection

On 29 September 2015, a YouTube video was posted by an associate of eyeThenticate (at the time of posting)[31] demonstrating a spoof of Eyeprint ID using version 2.3.6 of the demo application.[32] The Play Store app description has been updated to clarify that the demo application "includes limited liveness detection only, and spoofing tests conducted on this app will not be relevant to the product sold through EyeVerify partners". The version of Eyeprint ID that is integrated by partners has liveness detection built in to prevent spoofing attempts.[33] [34]

Recognition & awards

Notes and References

  1. Web site: Tangerine First Bank in Canada to Launch 'EyeVerify™', 'VocalPassword™' and In-App Secure Chat Tangerine. Bank. Tangerine. www.tangerine.ca. 2016-06-25.
  2. Web site: Digital Insight, EyeVerify to Offer Eye Vein-Based Security for Mobile Apps. American Banker. 12 February 2015 . 2016-06-25.
  3. Web site: Wells Fargo looks to eye-scan security. Times. Los Angeles. Los Angeles Times. 6 March 2016 . 2016-06-25.
  4. News: Goodbye, Password. Banks Opt to Scan Fingers and Faces Instead.. Corkery. Michael. 2016-06-21. The New York Times. 0362-4331. 2016-06-25.
  5. Web site: Exclusive: EyeVerify opens second office in Crossroads - Kansas City Business Journal. Kansas City Business Journal. 2015-10-12.
  6. Web site: Stuart Dredge . 10 things you need to know about biometrics technology . The Guardian (U.K.) . 2014-09-17.
  7. Web site: EyeVerify Eyeprint ID, DEA EPCS Biometric Subsystem Certification Test Report. May 22, 2015. October 12, 2015. March 4, 2016. https://web.archive.org/web/20160304080207/http://www.ibeta.com/wp-content/uploads/EyeVerify-Biometric-Subsystem-Certification-Report-v2.0.pdf. dead.
  8. Web site: Start-up EyeVerify using technology developed by SCE professor Reza Derakhshani . UMKC School of Computing and Engineering. 2012-08-01.
  9. Web site: Rachel Metz . Instead of a Password, Security Software Just Checks Your Eyes . MIT Technology Review . 2012-12-03.
  10. Web site: Alibaba Buys Eye-Scan Firm Used by U.S. Banks for a Reported $100M. Fortune. 2020-04-07.
  11. News: Pay by selfie: Ant Financial buys EyeVerify to add eye print authentication to Alipay. South China Morning Post. 2017-01-04.
  12. Web site: 'EYEVERIFY' uses your eye as a password? . Fox Business . 2014-08-20.
  13. Web site: Sarah Buhr . The Eyeball Selfie For Secure Banking, EyeVerify Gets $6 Million In Series A Part 2 . TechCrunch . 2014-08-20.
  14. Web site: Diane Stafford . EyeVerify gets $6 million more in equity funding . The Kansas City Star . 2014-08-20.
  15. Web site: Tangerine Bank secures Canadian mobile banking first with EyeVerify - IBS Intelligence. 2016-04-27. 2016-06-25. 2016-07-01. https://web.archive.org/web/20160701115456/https://ibsintelligence.com/ibs-journal/ibs-news/tangerine-bank-secures-canadian-mobile-banking-first-with-eyeverify/. dead.
  16. Web site: Wells Fargo to Verify Customers through Eye Prints. Nash. Kim S.. 2016-06-25.
  17. Web site: RSA Enhances Mobile Security with Biometrics. Speaking of Security - The RSA Blog and Podcast. 2015-10-30. https://web.archive.org/web/20160304052431/https://blogs.rsa.com/rsa-enhances-mobile-security-with-biometric-authentication-for-adaptive-authentication-mobile-sdk/. 2016-03-04. dead.
  18. Web site: Olcsan to resell and distribute EyeVerify eye recognition products in Turkey and Europe. BiometricUpdate. 8 June 2015 . 2015-10-30.
  19. Web site: Güvenli Mobil Ödemenin Adresi Vodafone Cep Cüzdan, Kullanıcısını Artık Gözünden Tanıyor - Vodafone Medya Merkezi. Güvenli Mobil Ödemenin Adresi Vodafone Cep Cüzdan, Kullanıcısını Artık Gözünden Tanıyor - Vodafone Medya Merkezi. 2015-10-30.
  20. Web site: Mountain America offers dual biometric log-in for mobile banking • NFC World+. NFC World+. 18 May 2015 . 2015-10-30.
  21. Web site: Digital Insight, EyeVerify to Offer Eye Vein-Based Security for Mobile Apps. American Banker. 12 February 2015 . 2015-10-30.
  22. Web site: Service Credit Union. servicecu.org. 2015-10-30. https://web.archive.org/web/20160304044736/https://www.servicecu.org/EyePrintId.asp. 2016-03-04. dead.
  23. Web site: Technology - Arizona Federal - Arizona Federal Credit Union. www.arizonafederal.org. 2015-10-30.
  24. Web site: Mobile App CommunityAmerica Credit Union Kansas City. www.communityamerica.com. 2015-10-30.
  25. Web site: Banking with the "Bat of an Eye": First Internet Bank Offers Eyeprint ID Technology for Mobile Banking Access - First Internet Bank. First Internet Bank. 2015-10-30. 2016-10-10. https://web.archive.org/web/20161010225914/https://www.firstib.com/banking-with-the-bat-of-an-eye-first-internet-bank-offers-eyeprint-id-technology-for-mobile-banking-access/. dead.
  26. Web site: Evansville Teachers Federal Credit Union. www.etfcu.org. 2015-10-30. https://web.archive.org/web/20150910235242/https://www.etfcu.org/personal/mobile.shtml. 2015-09-10. dead.
  27. Web site: Is Eye-Scanning Coming to a Bank Near You?. FORTUNE. Fortune. 2017-01-04.
  28. Web site: Comarch to integrate EyeVerify service for biometric authentication. www.thepaypers.com. 2017-01-04.
  29. News: HYPR Integrates EyeVerify EyeprintID into the HYPR Biometric Security Suite. PRWeb. 2017-01-04.
  30. News: EyeVerify Teams Up with BioConnect to Boost Payment Security - Finovate. 2016-08-30. Finovate. 2017-01-04.
  31. Web site: Sign Up LinkedIn. www.linkedin.com. 2015-11-02.
  32. Web site: An Evaluation Of The Eyeverify Biometric 'Eyeprint ID'. .
  33. Web site: EyeVerify Biometric Data Tool (archive.org snapshot on 12 June 2015) . dead . https://web.archive.org/web/20150612222514/https://play.google.com/store/apps/details?id=com.eyeverify.android_verify . June 12, 2015 .
  34. Web site: Eyeprint ID - Android Apps on Google Play. play.google.com. 2015-10-19.
  35. Web site: Autumn MorningSky . EyeVerify wins international startup pitch contest . Kansas City Business Journal . 2013-11-22.
  36. Web site: Jordan Pascale . KC startup EyeVerify wins two awards during Consumer Electronics Show . Silicon Prairie News . 2014-01-08.
  37. Web site: EyeVerify featured in Gartner's cool vendor in mobile and wireless 2015 report. BiometricUpdate. 28 September 2015 . 2015-10-12.
  38. Web site: FinovateEurope 2016 Best of Show Winners Announced - Finovate. 2016-02-10. 2016-06-25.
  39. News: FinovateAsia 2016 "Best of Show" Winners Announced - Finovate. 2016-11-08. Finovate. 2017-01-04.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "EyeVerify".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.