EyeVerify

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EyeVerify
Company typePrivate
IndustryBiometrics
Founded2012
FounderToby Rush
Headquarters
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
ParentAnt Group
Websitehttp://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[edit]

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.[7]

History[edit]

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[edit]

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[edit]

Financial services[edit]

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[edit]

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[edit]

  • 2013, Get in the Ring U.S. and international winner[35]
  • 2014, "Rookie of the Year" and "Technology Innovation," Compass Intelligence Mobility Awards[36]
  • 2015, 2015 "Cool Vendor" in Mobile and Wireless, Gartner[37]
  • 2016, "Best of Show" at FinovateEurope.[38]
  • 2016, "Best of Show at FinovateAsia.[39]

References[edit]

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