Veridium, a leading developer of frictionless authentication solutions, today announced that it has been selected to join Mastercard Start Path, an award-winning program to help late-stage startups rapidly scale, through access to Mastercard’s worldwide ecosystem of customers and partners.
Veridium was chosen for its pioneering multi-factor authentication platform using biometrics to create trusted digital identities that safeguard access to an enterprise’s most critical assets.
Mastercard Start Path is an industry-wide collaboration that connects banks, merchants and startups to scale new technology solutions for the financial services and payments industries. Through a rigorous application process, Mastercard selects approximately 40 startups annually. Out of an applicant pool of nearly 2,000, applicants, including Veridium, must meet stringent criteria:
- Innovative Solution: Demonstrated commercial traction with clear product differentiation
- Strategic Fit: Alignment with Mastercard’s strategic innovation initiatives
- Team: Experienced, diverse and passionate founders with relevant expertise
- Funding: Investment raised (Seed, Series A or later)
“Veridium is proud to join Start Path along with six other visionary companies as we work to scale our business and collaboratively change the face of payments and commerce,” said Lori Cohen, CMO of Veridium. “In today’s digital world, we’re committed to helping companies enhance security and privacy in the face of increasing cyber threats and to meeting changing regulatory requirements like GDPR and PSD2. We look forward to working closely with Mastercard and its network of customers and partners to provide innovative authentication solutions using biometrics like our 4 Fingers TouchlessID technology to better protect businesses around the world.”
Veridium and all Start Path companies receive bespoke training programs to unlock new potential, and will also gain access to Mastercard’s extensive, global network to form strategic business relationships.
“Mastercard and startups share common goals and, together, our global network of innovators is reshaping a variety of areas relating to FinTech and commerce,” said Amy Neale, vice president and startup engagement lead, Mastercard. “We look forward to Veridium scaling its technology through the solutions it co-creates alongside our customers.”
Veridium’s acceptance into Mastercard Start Path comes on the heels of a banner year for the company. In June 2018, Veridium announced that it secured $16.5M in a strategic series B funding round, to help drive innovation and accelerate product development of its biometric authentication platform. Additionally, just last month, Veridium further demonstrated its commitment to innovation, announcing its Behavioral Biometrics solution, Veridium InMotion. The new solution leverages user behavior analytics (UBA) to further protect users’ identities and prevent malicious activity.
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