Market Insights

Factom raises $8M, Securefact & Socure partner: Friday Deal Book: April 21, 2017

April 21, 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 overview of what you need to know for the week ending April 21, 2017.

Securefact and Socure announce partnership: Two two are teaming up to provide customer onboarding tools to Canada’s financial services sector ahead of new regulations from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The new FINTRAC guidelines on non face to face onboarding are into effect on June 30, 2017. Securefact President and CEO, David Sudbury, affirmed “SIDni is designed to be dynamic so, as FINTRAC guidelines evolve, SIDni will adapt to the changes to support our customers’ KYC objectives.” [Read More]

Blockchain startup Factom raises $8 million: Despite a cancelled land registry project in Honduras, Austin blockchain as a service company Factom has closed their Series A financing at just over $8 million. Investors include Draper Associates, Stewart Title, Overstock, Fenbushi Capital, and Plug & Play, Peeli Ventures, Harvest Equity, and a number of local Austin investors. [Read More]

Reputation management company SweetIQ acquired by Gannett: USA Today’s parent company, Gannett, has acquired Canadian SweetIQ Analytics Corp for an undisclosed amount. SweetIQ creates tools for local business to manage their online identities through reputation management and location targeting. [Read More]

CLEAR raises $15 million from T. Rowe Price to expand biometric security: New York based biometric security firm CLEAR raised $15 million. CLEAR plans to use the funding to expand its footprint to additional airports and stadiums as well as enter new verticals such as payments. The company currently boasts 1 million members, and its biometric security solution is installed at 21 airports, six baseball stadiums and one NBA arena. [Read More]

Chicago based BMO Harris Bank Launches FinTech Partnership Program: BMO Harris Bank announced a partnership with 1871, a Chicago based startup network. Startups can apply for one of six spots in a mentorship program. Applications close May 15, 2017. [Read More]

Mastercard announces biometric enabled credit card: In its latest move in doubling down on biometrics, Mastercard has unveiled a new EMV credit card with an embedded fingerprint sensor. Consumers use the fingerprint technology to replace the PIN during the checkout process. The network ran trials of the technology in South Africa partnering with Pick n Pay, a supermarket retailer, and Absa Bank, a subsidiary of Barclays Africa. A full roll out is expected later this year. [Read more]

Bank of England accelerator program looks to tackle big data and privacy: Applications for the next cohort of the Bank of England’s accelerator program are now open. In a statement the Bank reiterated its focus on privacy and distributed ledger technology – “we are particularly keen to advance our understanding of quantitative and qualitative machine learning solutions and to conduct a more detailed exploration of privacy in distributed ledger networks.” [Read More]

French telecom giant Orange will take banking customers starting July: Orange had announced plans to open banking services, under the creatively named Orange Bank, earlier this year. Customers will be able to sign up starting July, while Orange employees will get early access starting in May. The initial launch will provide customers from launch with a bank account, a debit card, overdraft protection and an interest-bearing savings account. Additional services, such as credit and insurance, will gradually be included launched. [Read More]