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miiCard Granted US Patent for Proving True Online Identity
EDINBURGH, SCOTLAND, Jan 29, 2013 (MARKETWIRE via COMTEX) --
Online identity verification company miiCard today announced that it
has been granted United States Patent number 8,332,322 for its method
of establishing true online identity based on an individual's ability
to access their online financial accounts.
The miiCard verified online identity solution eliminates a persistent
roadblock in online transactions and trust by allowing individuals to
prove their true identity to the level of an offline photo ID check,
completely online and in just minutes. This enables a greater range
of online products and services for a number of industries, including
financial services, healthcare, online recruiting, and more.
"We live in a world of unlimited online potential that so far has
been held in check by a scarcity of trust online," said miiCard CEO
James Varga. "miiCard allows consumers to leverage the security they
already hold in their banking accounts to prove their identity
online. This raises the standard of online trust to the same level as
verifying a photo ID in the real world, and it enables consumers to
do more online through merchant or peer-to-peer interactions."
How It Works
As a Level of Assurance 3 (LOA3) identity solution, miiCard proves an
individual's true identity to the level of an offline photo ID check.
Most other solutions validate only a portion of one's identity,
creating the potential for fraud. miiCard proves identity by
confirming that a user can access multiple secure online accounts,
such as a bank or investment account. miiCard re-confirms this access
on a regular basis to maintain a verified identity. The company uses
bank level security measures such as multi-factor authentication and
Individualized Strong Encryption (ISE) to provide the highest level
of protection possible.
miiCard users are always in complete control of their identity, and
can confirm additional accounts to further document their identity.
Users can choose how much information is shared with each service
provider using miiCard.
Through its partnership with Yodlee, miiCard is able to verify over
300 million users across nine countries and five continents today.
About miiCard
miiCard is a global online identity verification service that allows
a user to prove for the first time that "I am who I say I am" purely
online and in real-time. miiCard empowers consumers to build trust on
social networks, trade and transact easily and with confidence, and
proactively manage their online identity. Vendors accepting miiCard
as proof of online identity can increase conversions, reduce cost of
execution and augment fraud and identity theft protection. miiCard
currently supports the United States, Canada, the United Kingdom,
South Africa, India, Australia, New Zealand, Ireland and France.
Press Contact:
Michael Azzano
Cosmo PR
415/596-1978
Email Contact
SOURCE: miiCard
http://www2.marketwire.com/mw/emailprcntct id=3B61733725EECDA1
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