InAuth is the leading global provider of solutions that help businesses limit risk, reduce fraud, and enhance authentication within their fastest-growing digital channels. Interactions via mobile phones, tablets and browsers require state-of-the-art oversight and protection. InAuth is working with leading global banks, payment networks, merchants, healthcare providers, and large enterprises in North America, Europe, and beyond to make device interaction a more protected, less costly channel.
— InAuth (@InAuth) June 15, 2015
How did you find MoneyConf? Highlights?
As conferences go — lots of firsts! First time we’d attended an event that was primarily promoting EU Tech, first visit to Northern Ireland, and first time I’d been to a conference that was held in an aircraft hangar! Great to see so much innovation coming from Europe.
This was a great opportunity for me and our Head of EU to get a sense about what other FinTech firms are focused on and to spend time with our clients and prospects to share our new products. Also really appreciated the Keynote opportunity to showcase our progress to date with Fortune 100 companies and our vision for the future in this space.
— InAuth (@InAuth) June 15, 2015
Every industry we look at right now is focused on mobile-first, a big step change from a few years ago. The mobile revolution is in full swing — which means more and more need to focus is required on ensuring that everything tied to mobility is created to include advanced thinking around keeping the company, channel, and consumer as protected as possible. Trust is the most important factor for customer relationships, and the addition of our contemporary way of analyzing the riskiness of an interaction is fast becoming table stakes. How we utilize the massive amount of data to create more intelligent interactions is the exciting part of what’s ahead in the future.
Check out this visualization of a DDoS attack on the VideoLAN downloads infrastructure! http://t.co/woyKBcSPJ1
— InAuth (@InAuth) February 24, 2014
What sort of opportunities could this lead to for the fintech sector?
Consumers, small business, even commercial companies are all much more demanding and opinionated when it comes to working on their mobile device – be that a phone, tablet, etc. They want less friction, less hassle, and more recognition of who they are and what they need from the start. As an example — let’s say someone is using a “known device” based on the characteristics that we can pull off of it and compare to the last time we saw that device, and that they’re sitting in their living room on their home wifi (while watching Game of Thrones, for instance!), then why should they have to authenticate themselves at all? Experiential design, taking full advantage of relevant and unique data (like device data), has the ability to better the entire experience, from initiating a session all the way through to the completion of a secure transaction. It’s about convenience and it’s piece of mind.
Is security a constantly escalating issue or will it be solved?
Security via technology is the attempt to run faster and smarter than the bad guys. Especially when it comes to protecting things like money, reputation, or personal identification. We will always attempt to mitigate fraud and risk to the largest extent, but unfortunately it is unlikely to ever be “solved”.
Congrats on the $20 mill from Bain, what will this help inauth to do?
Thank you, Simon. We are thrilled to be partnered with Bain Capital Ventures. We had a lot of great clients on the roster when we began our fundraising, but I dare say that having the backing of a company like BCV has changed everything. We are advancing our growth plans now in new parts of the world, like Europe, Latin America, and Asia Pacific, in our quest to become the global standard for best-in-class device security and authentication.
Tips to other fintech startups?
InAuth is a four year old company, so still early stage. The one thing we believe that is somewhat unique is in the great value that can be derived by listening to the needs of your clients. To be the best in this space, we will need to continually innovate to continue to drive down the risk that exists in digital, and it is often the CISO in a big bank or the Head of Fraud and Risk at a major mCommerce player who identifies where the gaps are — allowing us to fill them for them. The other maybe obvious answer is to add only the absolute best talent to your growing team. This is an area that none of us can afford to compromise on.
Life / work, online / offline balance, your strategies for this?
Company culture helps set the stage for work/life balance inside of an early-stage, high growth company like ours. We are still very much a “family”, and things like hierarchy or alternate agendas just don’t exist. We’re like the crew team I see early each morning when I take a walk along the Charles River in Boston — rowing in the same direction and in complete unison to accomplish the identical goal.