Project description
Eyecode technology for secure transactions
Cybercrime is on the rise across Europe and North America. The more time people spend on the internet, the more vulnerable they are to being attacked online. Enter Eyecode: a two-factor authentication solution that offers banks and other financial service companies, and their customers, a secure transaction validation process. The solution combines two breakthrough cryptography technologies – immune code execution and cryptographic retinal photography. For instance, users will receive a virtual token from their banks via an app on their phone – which they use to validate a transaction. The EU-funded EyeCode project will validate market potential, commercialisation strategy, and planned software engineering scale-up actions. The project will perform independent penetration tests to boost credibility, obtain certification from ANSSI (the French NSA), and carry out the development required by contracts concluded with large French banks.
Objective
Around €1 trillion in mobile financial transactions were made in 2016, and up to €480 billion resulted to be stolen by hackers. Online crime is estimated at 0.8% of worldwide GDP, with developed countries in regions including Europe and North America being the most affected.
Eyecode is a two-factor authentication solution offering secure transaction validation. It leverages two breakthrough cryptography technologies – immune code execution and cryptographic retinal photography – to protect banks/FinTechs and their customers against the escalating threat of cyber-attacks.
Instead of receiving an SMS from their bank, users will receive a virtual token via an app on their phone – which they use to validate a transaction. The service offers equivalent security to “chip and pin” hardware solutions – with single device convenience. The easily deployable, cost effective solution doesn’t rely on smartphone hardware either, which increasingly erodes banks’ customer ownership. Given the stakes and high profile attacks, banks are crying out for secure solutions. In Europe, this is regulation-driven too.
In Phase 1 Skeyecode will validate market potential, commercialisation strategy and planned software engineering scale-up actions. The Phase 2 project will be used to run independent penetration tests, to boost credibility; to obtain certification from ANSSI (the French NSA); and to carry out the development required to service proof of concept contracts currently being concluded with large French banks.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences software
- natural sciences computer and information sciences computer security cryptography
- social sciences economics and business business and management business models
- engineering and technology electrical engineering, electronic engineering, information engineering information engineering telecommunications mobile phones
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
75015 PARIS
France
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.