Market Insights

Capital One launches ID API, Signifyd raises $56M: Friday Deal Book for 5/5/2017

May 5, 2017

One World Identity’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements in the identity industry. Here’s a quick peek at what you need to know for the week ending May 5, 2017.

Capital One launches Digital Identity Developer API
Capital One has launched a beta version of developer API tools for a suite of digital identity products including customer registration, verification, and authentication. Through this beta, developers will be able to plug into Capital One’s identity stack. Capital One has been working on digital identity products internally for a number of years, but this is the first launch making those tools available outside the bank. [Read more]

Former Moneygram Compliance Chief pays $250,000 for AML failures
Thomas Haider, Moneygram’s former Chief Compliance Officer, has finally reached a settlement with the Department of Justice and FinCEN, agreeing to pay $250,000 in civil penalties and admitting personal responsibility in Moneygram’s failures to implement effective anti-money laundering (AML) programs. He will also be barred from serving in a similar compliance role for 3 years. This represents one of the largest settlements against an individual. In a statement, Acting FinCEN Director Jamal El-Hindi said, “it is important that we take action so that the reputations of thousands of talented compliance officers are not diminished by any one individual’s outlying egregious actions.” [Read more]

Chinese insurance giant Ping An launches $1 billion FinTech and health care fund
The $1billion Ping An Global Voyager Fund will look for investments in early stage fintech and healthcare technology firms globally. Ping An has another venture capital arm, Ping An Ventures, that has a sole focus on the Chinese market. Ping An Insurance Group is the country’s largest insurer by market value. [Read more]

German bank O2 confirms hackers exploited two factor authentication vulnerability
O2-Telefonica has confirmed that its customers were targeted in a sophisticated phishing attack that exploited a telecommunications vulnerability to re-route the delivery of text messages with two-factor authentication codes sent by the bank. The vulnerability in the Signaling System 7 protocol has been long demonstrated by researches. Last summer, the US National Institute of Standards and Technology issued guidance for institutions to move away from using SMS based second factor authentication because of known vulnerabilities such as the one exploited in this attack. [Read more]

Fraud protection startup Signifyd raises $56 million in Series C financing
The San Jose based e-commerce fraud fighter plans to use the funds to double the size of its engineering staff over the next 12 months and expand to additional e-commerce merchants globally. The round was led by Bain Capital Ventures, with additional participation from Menlo Ventures, American Express Ventures and other existing investors. [Read more]

Barclays continues to fund FinTech ecosystem with Rise London
This week Barclays Bank announced that it has established Europe’s largest co-working space dedicated to fintech startups – Rise London. The bank held a demo day as part of the opening festivities, where it announced formal engagements with eight of the finalists. [Read more]

Data capture startup Heap raises $27 million in Series B
Heap provides tools for developers to automatically capture all user interactions on their web and mobile properties. The round was co-led by NEA and Menlo Ventures, with participation from Initialized Capital and Pear VC, bringing Heap’s total funding to $40 million. Current customers include Zendesk, Crunchbase, and Lending Club. Heap plans to use the funding to expand its development and product management teams. [Read more]

CA Technologies announced launch of new anti fraud suite for card issuers
In the continued battle against card not present fraud, incumbent CA Technologies announced the launch of CA Risk Analytics Network. The product is aimed at card issuers and claims to use real-time behavior analytics and machine learning to protect 3D Secure card not present transactions. [Read more]