Following a period of sustained growth, online identity verification service miiCard has today announced the appointment of Graham Paterson as chief financial officer. This appointment comes as miiCard accelerates the international adoption of its "digital passport" amongst businesses and consumers.
Previously a non-executive director, Graham has been involved in the company since its inception and personally led miiCard's recent highly successful funding round, which raised £1.6 million from a mix of angel and venture capital investment groups. In his new role he will be responsible for strategic financial management, corporate finance and capital raising.
A qualified chartered accountant, Graham has spent most of his career in the private equity industry. He was one of the founding partners of SL Capital Partners LLP, where over 13 years, Graham played a major role in their becoming one of Europe's largest private equity fund of funds managers, with assets under management of circa €6 billion. Prior to that, he worked for PwC's corporate finance division.
James Varga, miiCard CEO, comments: "Graham has been a part of our executive team since miiCard launched, but appointing him chief financial officer fully capitalises on his extensive investment and financial experience, which will be a real asset as we continue with the ambitious global expansion for our service".
Graham Paterson comments: "When you consider the significant challenges the global population is facing to protect and prove their identity online, there is no doubt in my mind that miiCard is one of the most exciting companies to be part of. I am looking forward to working with James and the rest of the team to make miiCard the new standard in online identity.
The first global online identity verification service, miiCard allows the consumer to prove online identity, in real time and with the same level of authority that a passport or driver's licence carries offline. miiCard can be used to support the full sale of financial products online, and prove real identities across a range of websites where a high level of trust is required including social networks, online dating and auction sites.
Vendors accepting miiCard as proof of online identity bbenefit from increased conversions by supporting a live and purely online sales process, reduced cost of execution by not having to validate an identity offline or physically, and additional fraud and identity theft protection miiCard is responding to a growing demand worldwide for a means to verify real identity purely online as both the risk and value of transactions on the web escalate.
A Deloitte report on the Top Technology Trends for 2012 identified digital identity as a key issue, and initiatives geared to tackle these concerns have been launched by both the UK and US governments, with the UK Identity Assurance Programme and the National Strategy for Trusted Identities in Cyberspace (NSTIC) in the United States.