London, UK - February 7, 2012 - Today, at FinovateEurope in London, online identity verification service miiCard will announce the global expansion of support for its 'digital passport' to include South Africa, India, Australia and New Zealand. The news further boosts miiCard's already strong start to the year, which has seen a partnership with credit solutions provider Callcredit and TRUSTe Web Privacy certification. This international reach, combined with strategic partnerships, cements miiCard's exclusive position as the only Electronic Identity and Verification (eID&V) service to prove identity purely online and in real time to anti-money laundering (AML) standard, globally.
James Varga, miiCard CEO, comments: "Proving online identity is the final barrier to global trade. The need to create trust online is a worldwide problem so we are delighted to be rolling out support for miiCard in India, South Africa, Australia and New Zealand. This takes us one step closer to conducting business, protecting consumers and fighting fraud internationally, without resorting to physical offline identity validation."
A user-centric service, miiCard provides the primary ID verification that is missing from existing eID&V solutions, and can be used as an online equivalent to the offline driver's licence or passport checks normally conducted in a range of industries like financial services, ecommerce, dating and gambling. miiCard is powered by Yodlee, the leading Personal Finance Management (PFM) solution behind 85% of online users at leading bank and portal sites worldwide.
The Callcredit partnership brings together miiCard's anti-impersonation technology with Callcredit's award winning data based electronic verification solutions, to provide an unrivalled level of protection and convenience for consumers and companies wanting to do business purely online.
"Our strategic relationships with Yodlee and Callcredit demonstrate confidence in the miiCard digital passport to change the way we trade and transact online, and we are very excited to be working with them to create trust on the Internet," Varga says.FinovateEurope is one of the most influential trade shows for the financial services industry and is designed to showcase the most innovative financial technology products and ideas from established industry leaders as well as cutting-edge startups like miiCard.
Eric Mattson, CEO of The Finovate Group says: "We are delighted to bring miiCard back to FinovateEurope for a second year. miiCard's digital passport innovation is an exciting idea in online identity that has the potential to make a real impact on how retail banks interact online with their customers."
miiCard is an online identity verification service that allows a consumer to prove that "I am who I say I am" purely online and in real-time, to an Anti-Money Laundering standard, without the need for a physical ID check. Owned and managed by the individual, miiCard allows the consumer to track, monitor and thus take control of their online identity. For businesses selling online to consumers, miiCard improves conversion rates, cuts operational cost and fights Internet fraud.
The inability easily to authenticate a user's identity online has long been a significant problem. Between 70% and 90% of all online financial transactions are terminated when the customer is required to provide physical proof of identity so it is imperative that businesses find a solution.
By creating trust in an environment characterised by anonymity and transient identities, miiCard will open up opportunities for business online and put internet users back in control of their personal information.
miiCard currently supports North America, the United Kingdom, South Africa, India, Australia and New Zealand.
Melanie Flanigan, Yodlee at (650) 980-3707, or email to mflanigan@yodlee.com
Sarah Lee, Hot Tin Roof, PR for miiCard at 0131 225 3875, or 07766542110, or email sarah@hottinroof.co.uk
Yodlee is a registered trademark of Yodlee, Inc. All other trademarks are the property of their respective owners.
