Market Insights

Wells Fargo pays up, Ukraine invests in blockchain: Friday Deal Book for 4/14/2017

April 14, 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 April 14, 2017.

Wells Fargo fake account scandal costs on the rise: Chief Financial Officer John Shrewsberry told analysts that Wells Fargo expects fees for consultants and lawyers will be $70 million to $80 million per quarter, up from the previous estimate of $50 million to $60 million. Consumer trust in the lender is down, with year over year account opening in a significant slump: Customers opened 35 percent fewer checking accounts in March compared with a year earlier, while credit-card applications were down 42 percent. [Read more]

Bitfury Group to power Ukraine government blockchain initiative: The State Agency for eGovernance of Ukraine signed a Memorandum of interaction and cooperation with The Bitfury Group to create a Blockchain eGovernance program for Ukraine. The main areas of focus will be state registers, public services, social security, public health and the energy sector. [Read more]

Data broker Narrative raises $2.25 million in seed round: Narrative provides a marketplace to connect buyers and sellers of data. Primarily focused on data for advertising today, the company hopes to expand the marketplace to cover more data and use cases. XSeed Capital, KiwiVenture Partners, and C2 Ventures participated in the round. [Read more]

Behavioral health startup Spring Health raises $1.5 million: Spring Health uses machine learning to personalize patient care through a behavioral health screening tool and clinical decision support platform for primary care physicians. Now the company’s focus is on matching patients with the most suitable depression drugs. The round was co-led by the William K. Warren Foundation and angel investor Kevin Ryan, with additional investments from RRE Ventures, North Sound Ventures, and Saddlefire Ventures. [Read more]

Crossmatch awarded $5.8 million Intelligence Advanced Research Projects (IARPA) Activity Contract: The contract will fund developing technologies to detect biometric spoofing, or detecting the presentation of fake or false biometrics to gain access or avoid identification. IARPA is a research arm within the Office of the Director of National Intelligence. The project is expected to continue through 2021. [Read more]

Mitek granted new mobile ID verification patent: Mitek announced that it has been awarded a patent for the use of mobile device RFID readers and cameras for document verification, effectively enabling devices to read the data encoded on RFID chips embedded in modern identity documents. U.S. Patent No. 14,722,058, “Identification verification using a device with embedded radio-frequency identification functionality.” [Read more]

Canadian behavioral biometrics startup Zighra granted patent for continuous authentication technology: Zighra announced that it has been awarded a patent for its AI-driven adaptive continuous authentication engine. The patent covers use of data from accelerometers, gyroscopes and other sensors available on smart devices based on user inputs including voice, touch screens tap and swipes, and walking for providing continuous authentication. [Read more]

Sustainable Apparel Coalition starts digital identity trial to share product transparency: The Sustainable Apparel Coalition (SAC), Avery Dennison and IoT platform Evrything announced a partnership to help manufacturers and retailers use encoded digital identities to share sustainability information to consumers. [Read more]