Ant Financial snaps up EyeVerify
14 September 2016 | 5702 views | 0
Biometric security startup EyeVerify has been acquired by Alibaba's financial services affiliate Ant Financial for in excess of $100 million.
The Kansas City-based firm claims more than three dozen banking and technology clients for its technology, which uses the camera on a mobile phone to snap a spoof-proof eyeprint for client authentication.
Earlier this year, Ant Financial and EyeVerify entered into a licensing agreement in which Eyeprint ID was integrated into the Chineses firm's payment authentication platform.
Jason Lu, vice president of fraud risk management at Ant Financial says the acquisition will allow the technology to be integrated into even more Ant Financial products.
“It is an important extension of our efforts to accelerate the global adoption of secure mobile payments and allows us to improve our overall risk management,” he says.
Founded in 2012, EyeVerify has 35 staffers and has raised $13 million to date.