Futurae Technologies AG, an authentication and transaction confirmation provider, has received a 5 million investment from a number of investors, namely the European leading financial services provider Euroclear, as well as the existing investors AXA Venture Partners, Zürcher Kantonalbank, and EquityPitcher Ventures. The investment allows the company to expand its team in order to grow in two key areas: accelerating international expansion and growing its fully managed authentication platform.
Digitalization, with its increased security requirements, continues to advance rapidly, especially in the financial services industry. At a time when secure digital interactions are more important than ever, Futurae’s innovative platform addresses the pain points enterprises face with strong customer authentication: exploding help desk costs, customer loss throughout the digital journey, and increased fraud, to name a few.
Over the past three years, more than 100 banks with users across over 50 countries have selected Futurae as their authentication platform. Futurae will continue its European market expansion, building upon its first banking customers in Germany, France, and Austria. The Futurae platform is also being enhanced with machine-learning capabilities to detect frauds faster and more accurately, all the while supporting customers with what they really need: usable solutions for their users.
Futurae Technologies was founded by Sandra Tobler, CEO, an experienced businesswoman and thought leader in fintech and the financial ecosystem, and two security and usability experts known throughout the industry for their research. Nikolaos Karapanos, CTO, with a PHD in authentication and web security, and Claudio Marforio, COO and head of product, with a PHD in mobile security and usability.
“The customer authentication market is stuck with insecure and unusable solutions that dampen user engagement and break the digital journey. The main driver of our rapid growth, besides the high usability and ease of integration, is the fact that we help our customers to massively reduce their high support costs”, said Sandra Tobler, CEO of Futurae.
“With many years of experience in operations management roles, I’ve lived first hand the struggles companies face when introducing security solutions”, said Michael Shipton, who recently joined Futurae board of directors and is an executive director on the board of Euroclear Switzerland.
“Futurae is an innovative security vendor that sets new standards to solve customer problems, rather than just patching a security hole: this, and the expanding market potential, convinced PwC Switzerland in introducing Futurae as an investment opportunity to Euroclear Switzerland”, added David Bundi, Head of Compliance, RegTech & LegalTech at PwC Switzerland.
From the left: Claudio Marforio (Co-Founder & COO, Futurae), Sandra Tobler (Co-Founder & CEO, Futurae), Nikos Karapanos (Co-Founder & CTO, Futurae)