#strikemdown 3-factor authentication 3FA Africa Bangalore Get In The Ring India India Bank Indian Bank Indian Bank Pilot Indian Banks Mobile Innovations NASSCOM Newsletter Nigeria NPC 2015 Singapore speech recognition Telco Telcom UBS UBS Future of Finance Challenge voice banking voice biometrics voice recognition Zurich
SayPay Technologies Inc. – November 2015 Newsletter
SayPay Inks Deal with Nigerian Telco
Mobile Innovations, Ltd. to Exclusively Market SayPay
SayPay and Mobile Innovations, Ltd. have come to terms on an initial five-year contract for the tele-communications solutions company to offer SayPay voice solutions within the country of Nigeria, with an option to expand into other countries. The deal comes amid a growing consumer phone base in Nigeria and improving economic development. Chris Orkut, CEO of Mobile Innovations remarked, “We believe SayPay will be a great success in Nigeria. Fraud is high and customer service is poor. SayPay addresses both problems within a single, water-tight solution,” Nigeria is home to 170 million people with a growing base of bank customers that use their mobile phones to perform banking functions. Mobile Innovations has plans to also expand into other sectors, including government where there is a compelling need for greater efficiency. Oreck believes his company can add customers “in the millions” in only a few years. SayPay is pleased to welcome Mobile Innovations on board, and looks forward to a servicing the Nigerian market and beyond in the near future.
SayPay Wins APAC Regional UBS Challenge
Heading to Zurich for Global Competition in December 2015
SayPay Technologies, Inc. was recognized as one of three top start-ups competing in the inaugural “UBS Future of Finance Challenge” held in Singapore on November 2-3, 2015. SayPay competed at the regional event against 15 promising innovation companies from a total field of 620 applicants from 52 countries. Steve Hoffman, CEO, and Ramsyam Missula, CTO, pitched to a panel of 8 senior UBS executives, who included Chi-Won Yoon, President UBS Asia Pacific.
“During the event, we introduced our ‘Customer Authentication Experience’ solutions that stream-lines customer authentication while improving security with voice biometrics,” Steve Hoffman claimed. “The distinguished panel of UBS judges were quick to recognize how SayPay transforms fragmented current authentication solutions into a seamless, enjoyable customer interaction with their financial institutions.”
SayPay’s innovative approach combines speech recognition, voice recognition, and tokeniza-tion in every authentication event. Ramsyam Missula added, “Our patent-pending solution offers the best combination of security and flexibility. The cryptographically-generated SayPay Voice Token identifies each transaction and provides a unique one-time password with each use. Users simply read the value into their registered mobile phone where we simultaneously verify the phone, code and user, providing 3-factor authentication.”
SayPay is off to Zurich, Switzer-land to compete in the UBS Future of Finance Global Final among 12 competing global finalists on December 10, 2015.
Indian Bank Pilots SayPay
A strong regional bank in Mumbai is the first to pilot SayPay’s 3-factor authentication and voice banking solution. The undisclosed bank is testing SayPay crypto-token sign-in and voice banking. Upon successfully signing in with the one-time SayPay code, users are offered a menu of voice commands supported by the service. Users can speak commands for balance inquiries, transfers, payments, and transaction history inquiries. The solution displays the requested information on the user’s smartphone which can also be vocalized to the user using text-to-speech technology. Users simply configure if they desire to have the information vocalized or silenced. The pilot is expected to run through the end of the year and is being offered to several hundred bank employees. Upon successful completion, the bank is looking to rolling out the solution to their entire customer base.
SayPay Reaches Finals in India’s “Get in the Ring” Technology Competition
Out of more than 294 startups that applied, SayPay was selected as one of the elite 32 startups to participate in the lightweight class of the “Get in the Ring” India. The qualifying startups presented their game in five rounds that judged experience, achievements, business model, financials and value proposition, followed by a freestyle round. The final contest, a one-on-one pitch battle between startups, saw four teams battling it out. SayPay advanced to the final round that included only 4 high-tech companies. Get-In-The-Ring contest is organized under the Nasscom 10K start-up program.