FinLab AG: AUTHADA's digital identification solution goes live with Paysafe Group

DGAP-Media: FinLab AG: AUTHADA's digital identification solution goes live with Paysafe Group

DGAP-Media / 05.07.2018 / 14:00

The Austrian provider of prepaid solutions - paysafecard - is now offering customers a new solution from AUTHADA for fast and secure online identification.

Darmstadt/Vienna. July 4, 2018 - New customers of one of the global market leaders in the field of online prepaid payment methods - paysafecard - are now identifying themselves with the App from AUTHADA, a portfolio company of FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR). paysafecard offers prospective customers the opportunity to register for their online payment account "my paysafecard" and to identify themselves securely and faster than ever: With NFC (Near Field Communication) smartphone technology, users only need their ID card and the corresponding six-digit PIN for digital identification. With this integration, paysafecard is one of the first renowned players in the financial sector to implement AUTHADA's eID mobile identification solution as it continues to pioneer the digitalization of the financial sector.

With AUTHADA ident, paysafecard offers new customers a solution that offers unique advantages over other identification products: remote identification with the AUTHADA app takes just a few seconds and can be used from anywhere at any time. Customers need only an NFC-enabled smartphone or tablet, and with the electronic identity (eID) of their ID card and PIN customers are able to confirm their identity to a service provider within seconds. The accelerated KYC process (Know Your Customer) results in an extremely low dropout rate when acquiring new customers.

And AUTHADA products are also impressive beyond just the onboarding process. AUTHADA also meets the requirements for the verification check in accordance with the German Banking Act (KWG), which is particularly relevant for credit institutions and insurers. The eID Core solution guarantees maximum security and is the first and only identification procedure in Germany to be certified by the Federal Office for Information Security (BSI).

"The Paysafe Group, as an established player in the financial industry, has proven with their decision to implement this identification method that the industry is ready for AUTHADA," says Jörg Jessen, CEO and co-founder of AUTHADA. Udo Müller, CEO of paysafecard, confirms: "The eID function is a technology that corresponds to our digital age as well as the high level of user-friendliness - we require. I personally expect this identification process to be a success." And Jörg Jessen adds: "We are very pleased and hopeful to achieve another go-live in the financial sector in the coming weeks with our product AUTHADA ident. But this much can be revealed: In the next few weeks, other large financial service providers will soon follow."

AUTHADA GmbH is a cybersecurity start-up founded in May 2015 as a spinoff of the Darmstadt University of Applied Sciences. The eID-Core solutions use the electronic identity of personal ID cards via a mobile or stationary device to verify existing or prospective customers within seconds. Since the product is based on national and international safety standards and legal requirements, it is certified by the German Federal Office for Information Security (BSI) and can therefore be considered safe to use and reliable.

Press contact:
Phone: +49 6151 2752 500

About FinLab AG:
Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A) is one of the first and largest company builders and investors focused on the Financial Services Technologies ("FinTech") sector in Europe. 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:
Phone: +49 69 719 12 80 0

End of Media Release

Issuer: FinLab AG
Key word(s): Enterprise

05.07.2018 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
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