Crunchfish enters partnership with neoEYED for using behavioral biometrics with digital cash
Crunchfish AB (“Crunchfish”) announces today that the company has entered into a Marketing & Technical Partnership Agreement with neoEYED Inc. (“neoEYED”) regarding use of behavioral biometrics to enhance the security in Crunchfish’s Digital Cash solutions.
neoEYED is a global player in behavioral biometrics, a technology which enables strong user authentication through analysis of how humans interact with their devices and applications. Over 100 behavioral factors, e.g. typing behavior, screen interaction and device position, are monitored to detect anomalies and prevent fraud. The process is completely frictionless to the user and will further enhance the security of Crunchfish’s Digital Cash solutions, both from a user perspective but also from the payment service provider’s perspective.
“Security is of essence with digital cash. We already support PIN, fingerprint and face biometrics as means of user authentication. Through the partnership with neoEYED we will add another level of protection based on behavioral patterns. This provides the issuing bank the ability to detect potential fraud whilst reconciling offline transactions. As such it is a perfect complement to our offering”, says Joachim Samuelsson, Crunchfish CEO.
“Digital cash is the future. Behavioral biometrics adds an additional layer of security that is non-obtrusive for the user, making it an ideal technology to be used with digital cash. With our behavioral biometrics solution, we increase the security for the end user as well as the issuer. Just like Crunchfish we are active on the booming Indian payment market, providing opportunities for joint offerings in the near future” says Alessio Mauro, neoEYED CEO.
About neoEYED Inc.
neoEyed inc. is an award-winning US-headquartered startup working on a science called Behavioural Biometrics, the AI helps businesses in preventing digital frauds and at the same time adding an additional layer of security. neoEYED AI can recognize users by collecting information about human to machine interactions or behavioural data. Banks and enterprises use neoEYED to reduce frauds on their digital channels. At neoEYED, we are not just working on a machine learning algorithm, but we are preparing the next generation of Artificial Intelligence to make security completely frictionless and passive. For more information, please visit www.neoeyed.com
For more information, please contact:
Joachim Samuelsson, CEO Crunchfish AB
+46 708 46 47 88
Ulf Rogius Svensson, IR & Marketing Manager, Crunchfish AB
+46 733 26 81 05
Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: firstname.lastname@example.org. Telephone +46 40 200 250.
This information is information that Crunchfish AB is obliged to publish in accordance to the EU Market Abuse Regulation. The information was provided by the contact person above for publication on January 21, 2021.
About Crunchfish – crunchfish.com
Crunchfish is a tech company with patent-pending solutions for digital cash that can be integrated with both the payment rail and in mobile wallets. The solutions are globally scalable and makes digital payments more robust as the risks of disruptions and downtime are eliminated. We have also developed Blippit, an app terminal that connects to cash register systems for both online and offline payments and have a patent-pending solution to reduce food waste. Crunchfish also develops gesture control of smart AR glasses for the consumer market. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.