AimBrain, a London startup that gives “biometric identity” as a support to help fintech companies and other money institutions battle fraud, has raised £4 million in Sequence A funding.
BGF Ventures led the round, with participation from Episode one, Entrepreneur Very first (EF), and a range of angel buyers which include Simon Rozas, Chris Mairs, and Charles Songhurst.
Started in 2015 by Andrius Sutas and Alesis Novik although they the two went by Entrepreneur Very first — and, notably, in the exact cohort as Magic Pony, the EF startup that exited to Twitter for reportedly as significantly as $a hundred and fifty million — AimBrain has created biometric authentication technological innovation to allow firms confirm a customer’s identity.
This includes verification centered on your voice, what your glance like, and how you interact with your unit, such as typing velocity or the way your hand shakes — none of which is a new concept in by itself.
Nevertheless, one particular of AimBrain’s claimed vital offering points is the startup’s ‘plug and play’ modular strategy that enables all three forms of authentication to be employed at the exact time or in a granular trend.
For example, suggests the startup, a financial institution could use behavioural authentication in the qualifications, letting a shopper to access a banking app with no the will need for several passwords. If the exact shopper then phones the bank’s call centre, voice investigation could be employed, whilst facial recognition could be employed at ATMs or in-branch.
Additional crucially (and perhaps gracefully), if AimBrain’s behavioural investigation flags up uncertainty about a customer’s identity when they are making use of an app they could be asked to “step up” to facial or voice recognition, and so on.
“No solitary biometric is superior enough in by itself,” suggests AimBrain co-founder Andrius Sutas in a statement. “To mitigate as significantly chance as probable, you will need a system strategy. In the two screening and reside generation, our technological innovation has constantly outperformed the current market, even on a solitary module.”
Adds Henry Gladwyn, of BGF Ventures, in a statement: “We are pretty fired up to be doing the job with AimBrain. Their technological innovation is remarkable and is poised to revolutionise the authentication process for money providers companies. This is an area of fantastic chance and we glance forward to observing AimBrain improve and triumph.”