miiCard, the online identity company, has been invited by SWIFT to speak at Sibos in the Innotribe Challenge, a startup competition on Thursday 28 October in Amsterdam.
miiCard is a unique digital passport for the consumer that proves “I am who I say I am” in real time, for the first time to Anti-Money Laundering, Know Your Customer Regulations and the Proceeds of Crime Act standards.
Owned and managed by the individual, miiCard allows the consumer to track, monitor and so take control of their online identity for the first time. miiCard is free to the consumer and charged to the vendor on a transactional basis.
miiCard, a patent pending global solution, is soft launching to the financial services industry with Sibos its first public outing. miiCard’s aim is to eradicate the final barrier to global trade, the need for offline proof of identity, before a financial product can be purchased.
Every day between 70% and 90% of online financial transactions are abandoned when the customer is asked to complete the transaction offline by taking their driving license, passport or utility bill into their local bank branch.
James Varga, miiCard’s Founder explains: “The internet world facilitates anonymity not trust. Our challenge today when conducting business, fighting fraud and protecting the customer is to create trust between business and consumer without resorting to physical offline identity validation”.
miiCard introduces the concept of online trust for the first time, allowing customers to buy financial products completely online. This will improve conversion rates, cut operational costs and fight internet fraud.
SWIFT is looking for start-ups with a compelling and radically innovative B2B offering and miiCard will have the opportunity to pitch their solution to the SWIFT incubation team. The best start-ups and ideas are brought together in this “dragon’s den” to share and discover the ideas and dynamics at the cutting edge of financial services today. Sibos is an annual member event for over 8,000 financial services senior professionals and the trade media.
miiCard will deliver demonstrate its product between 10.00 and 10.30, on Tuesday 26 in the Innotribe theatre on the SWIFT stand.