FinLab AG: AUTHADA comes first at Symbioticon

AUTHADA comes first at Symbioticon

Frankfurt am Main/Darmstadt, 19.09.2017. The Darmstadt technology company AUTHADA GmbH, a portfolio company of FinLab AG (WKN 121806, ISIN DE0001218063, Ticker A7A.GR) came first last week at the Sparkassen Innovation Hub's Symbioticon in Hamburg with its answer to the Yomo app by the Sparkassen Finance Group. The 16 largest savings banks in Germany and a select jury of customers voted online and chose AUTHADA with its customer onboarding solution which includes the eID card as the new identification method via the multi-banking API AHOI in accordance with PSD2 as the winner among the total of 17 participants. Symbioticon is a limited time competition in which start-ups can develop new, digital and mobile solutions via APIs provided, usually banking applications, for end customers within 48 hours and present them to the jury as prototypes.

The success shows that the technology developed by AUTHADA for customer onboarding using eID is one of the most innovative and future-looking technologies for the markets of banking, insurance, e-government, e-health and e-commerce in connection with know your customer (KYC) under the anti-money laundering act. AUTHADA is revolutionizing existing identification methods and verifies the customer identity via the electronic identity (eID) from the ID card. Using the smartphone NFC interface, the transfer of sovereign-tested master data takes place within 5 seconds.

About FinLab AG:
Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A.GR) is one of the first and largest company builders and investors focused on the Financial Services Technologies ("FinTech") sector. FinLab focuses on developing German FinTech start-ups and providing venture capital for their financial needs, whereas in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in FinTech companies, primarily in the USA and Asia.

Press contact:
FinLab AG:
investor-relations@finlab.de
http://www.finlab.de
Phone: +49 69 719 12 80 0

About AUTHADA GmbH:
AUTHADA reads the electronic identity (eID) of an ID card via a smartphone's NFC interface. This enables a customer's identity to be verified in just a few seconds based on officially tested master data. Mobile authentication of customers is the decisive factor in rejuvenating and broadening the customer base. Continuous digital use of all services and products in e-commerce, mobile banking and insurance meets the expectations of all customer groups and digital natives. A significant reduction in abandonment rates in mobile and digital customer acquisition is achieved by eliminating the need to change to a different media format, such as paper or video.

Press contact:
AUTHADA GmbH
Jörg Jessen
info@authada.de
http://www.authada.de
https://twitter.com/AUTHADA_GmbH
Phone: +49 6151-167905