Next generation authentication for the digital age

Informations projet

NK-52-2016

N° de convention de subvention: 745088

DOI

10.3030/745088

Projet clôturé

Date de signature de la CE 3 Mars 2017

Date de début 1 Avril 2017

Date de fin 30 Septembre 2017

Financé au titre de

• Secure societies - Protecting freedom and security of Europe and its citizens

Coût total

€ 71 429,00

Contribution de l’UE

€ 50 000,00

Coordonné par

SIA NOTAKEY
Latvia

Periodic Reporting for period 1 - NK-52-2016 (Next generation authentication for the digital age)

Période du rapport: 2017-04-01 au 2017-09-30

Résumé du contexte et des objectifs généraux du projet

In late 2015 European Parliament adopted the revised Directive on Payment Services (or PSD2). For financial companies that meant adopting strong two-factor authentication for bank login and transaction approval. As at that time there were no solutions to solve bank needs on a scale, professionals, who developed Latvian State ID card architecture and e-signature set a mission to come up with the most secure and convenient solution for meeting the regulatory requirements.

Goals of the Feasibility Study:

- collect feedback from financial companies in EU on how best to meet their business, security and compliance requirements;
- do pilot studies with financial companies to assess the risks and prepare USP for the solution;
- look for ways on how to scale the solution beyond finance industry.

Travail effectué depuis le début du projet jusqu’à la fin de la période considérée dans le rapport et principaux résultats atteints jusqu’à présent

Things done:

- extensive cold calling and cold e-mailing to banks and financial companies in EU and beyond;
- awareness generation by speaking at conferences such as Open Banking Days in London;
- networking by participating in Plug and Play Accelerator (in partnership with Santander bank) and Kickstart Accelerator in Zurich (in partnership with UBS and Credit Suisse);
- piloting solution at UBS and Credit Suisse;
- piloting product in non-financial companies - Latvian Mobile Telephone (telecommunication), Santa Monica Networks (IT) and Stradins Hospital (healthcare).

Results:

- defined USP that sets Notakey apart from the competition;
- clear sales plan: focus on employee authentication as the first step (much shorter sales cycle);
- product improvements after piloting at several companies;
- established partner network, who attracts new clients, do integration and help with support in multiple regions;
- awarded as best performing startup at Kickstart Accelerator;
- established a comprehensive roadmap for next years based on pilots.

Progrès au-delà de l’état des connaissances et impact potentiel prévu (y compris l’impact socio-économique et les conséquences sociétales plus larges du projet jusqu’à présent)

Progress beyond the state of the art:

- Notakey has a clear value proposition about how it contributes to the EU new regulations GDPR, eIDAS and PSD2;
- Notakey allows SMEs to be more competitive as it provides identity & access management tools, which previously have been available to companies with large IT budgets;
- Notakey allows to substitute passwords with a more secure and convenient solution, thus reducing fraud risk and making the society more secure as whole.

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