Periodic Reporting for period 1 - SEDEUF (Sedicii Innovative Authentication)
Reporting period: 2014-10-01 to 2015-03-31
Sedicii Innovations Limited was established to launch/commercialise its novel, patented methodology (US8411854) that uses the Zero Knowledge Proof Protocol to eliminate the exposure (transmission and storage) of private user information when verifying identity, authenticating users and authorising payments online. Sedicii’s corporate vision and mission is to incorporate the Sedicii technology into all authentication processes for digital and mobile services. The doubling of the online and mobile payments industry along with the growth of new markets such as IoT provide a significant opportunity for innovative ways to better authenticate in a more convenient and secure way for users.
Our H2020 feasibility study allowed Sedicii to undertake focussed market research, avail of coaching and create clear messaging/ value propositions to meet identified commercial opportunities. The allocated funding supported our efforts to create solution prototypes to illustrate the better secure methods of authentication associated with the delivery of digital services. We did this in order to meet the data privacy and security challenges for both consumers and suppliers of these services.
The authentication and identity verification market represents a multi-billion global business opportunity within the next 5 years. Sedicii’s unique technological architecture will allow us to actively participate in this rapidly growing marketplace. During our feasibility process, Sedicii engaged with respected industry market leaders to validate our technology and capabilities in developing defined solutions for such markets. The findings of this work will provide the foundation of our commercialisation, go-to market and partnership strategies as part of our Phase 2 submission
Based on the feasibility study objectives and deliverables of our feasibility study, the following authentication themes emerged as being important:
- Card & Digital Payments
- Contact Centre Caller Verification
- Federated Single-Sign On to multiple web-enabled applications
- Real-time Identity Verification with embedded privacy
Our H2020 feasibility study allowed Sedicii to undertake focussed market research, avail of coaching and create clear messaging/ value propositions to meet identified commercial opportunities. The allocated funding supported our efforts to create solution prototypes to illustrate the better secure methods of authentication associated with the delivery of digital services. We did this in order to meet the data privacy and security challenges for both consumers and suppliers of these services.
The authentication and identity verification market represents a multi-billion global business opportunity within the next 5 years. Sedicii’s unique technological architecture will allow us to actively participate in this rapidly growing marketplace. During our feasibility process, Sedicii engaged with respected industry market leaders to validate our technology and capabilities in developing defined solutions for such markets. The findings of this work will provide the foundation of our commercialisation, go-to market and partnership strategies as part of our Phase 2 submission
Based on the feasibility study objectives and deliverables of our feasibility study, the following authentication themes emerged as being important:
- Card & Digital Payments
- Contact Centre Caller Verification
- Federated Single-Sign On to multiple web-enabled applications
- Real-time Identity Verification with embedded privacy
During this time, Sedicii developed and launched four prototype authentication solutions for:
- Single Sign-On
- Mobile
- Contact Centre
- Card Payment
All four prototypes were launched with select customers with positive feedback to date.
- Single Sign-On
- Mobile
- Contact Centre
- Card Payment
All four prototypes were launched with select customers with positive feedback to date.
Sedicii solutions will impact and benefit both consumers and suppliers of digital commerce / services, with results displaying the following business and consumer needs:
- Validation of Consumer Identity to eliminate online fraud
- Establish a trusted engagement in supporting the growth of the digital economy
- Enhance payment security preventing data breaches such as Home Depot, JP Morgan and others.
- Consumers’ private information will be protected from exploitation or theft.
- Validation of Consumer Identity to eliminate online fraud
- Establish a trusted engagement in supporting the growth of the digital economy
- Enhance payment security preventing data breaches such as Home Depot, JP Morgan and others.
- Consumers’ private information will be protected from exploitation or theft.