Leading TransCrypts $15M seed round to revolutionize identity verification

🚀 Exciting news in the world of digital identity! TransCrypts has just raised $15 million in seed funding, marking a pivotal moment in the revolution of digital identity verification. Led by Pantera Capital and backed by notable investors like Mark Cuban, this blockchain-based platform is set to reshape how we verify and share sensitive information securely. As concerns over AI-driven fraud and deepfake manipulation grow, TransCrypts offers a solution that empowers individuals and enterprises alike. Their technology allows users to secure and share employment, health, and education records without compromising privacy. With over 450 enterprise clients and 4 million users, TransCrypts is addressing one of today's pressing challenges—trust in our digital world. This funding will enable TransCrypts to expand beyond employment verification, enhancing their offerings in health and education. In an era where identity theft and data breaches are rampant, their approach could redefine ownership of personal data. For businesses and policymakers, understanding and adopting innovative identity solutions like TransCrypts is essential in safeguarding sensitive information and ensuring user privacy. Read more about this groundbreaking development here: [TransCrypts Raises $15M Seed Round…

Resistant AI - Fraud Detection has secured $25 million in a Series B funding round led by DTCP, with continued backing from Experian, Notion Capital, and GV (Google Ventures). The Czechia-based fintech plans to use the funds to expand its anti-fraud technology and threat intelligence capabilities in new markets. Cameron Emanuel-Burns | FinTech Futures https://lnkd.in/e8XK8igz #Fintech #FintechNews

Fraud doesn’t always wait for the transaction. Sometimes, it starts right at sign-up. A fake email. A burner phone. A clean-looking device that’s been used 20 times before. That’s why smart onboarding isn’t just about speed. It’s about spotting risk before it becomes a problem. At SEON, we help teams catch fraud at the first step - using 900+ digital signals to understand who’s behind every new user. No friction for good customers. No free pass for bad actors. If onboarding is a blind spot in your fraud strategy, it doesn’t have to be. #Onboarding #FraudPrevention #DigitalFootprinting #RiskManagement #SEON #Fintech #GrowthWithoutFriction

Socure Launches No-Code Branded Identity Verification Flows “Every company wants a secure, branded, and seamless verification experience but building it from scratch is slow, expensive, and hard to maintain,” said Johnny Ayers, Founder and CEO of Socure. “Hosted Flows from RiskOS™ empowers product teams to design and deploy enterprise-grade onboarding experiences in minutes, backed by Socure’s best-in-class fraud and risk platform. It’s everything customers expect from Socure, just faster, simpler, and entirely customizable.” Read More: https://lnkd.in/d4a2atCU #frauddetection #digitalidentityverification #Fintech #HostedFlows #IdentityVerification #ITDigest #news #Socure

Trust Stamp Joins WealthTech accelerator to expand AI security solutions: Trust Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID), a global provider of AI-powered privacy enhancing technologies (PETs), has joined Founders Arena, a startup accelerator focused on the WealthTech sector, as part of its strategy to expand into wealth management. Trust Stamp president Andrew Gowasack said the company, which has already reached 100 financial institutions, is now targeting wealth managers, who face fraud risks similar to those in banking and insurance. “Wealth management providers are facing similar fraud challenges to our banking and insurance customers and demand the same level of security and privacy for customers,” he said in a statement. According to JP Morgan Wealth Management, losses from cyber fraud in 2024 reached $16.6 billion, up 33% from the previous year. Pamela Cytron, CEO of Founders Arena, said the accelerator seeks to support founders who combine intelligence with integrity. "We're not here to chase every shiny AI pitch. We're here to elevate... http://dlvr.it/TNxyBp

Regtech Trulioo Introduces Identity Capabilities To Enable A Complete Digital Trust Life Cycle: Regtech firm Trulioo, an identity platform with global coverage for person and business verification, announced product enhancements. #regtech #cdo #datagovernance

Real fintech pain points are onboarding, SCA, fraud, and audits. Today on Fintech of the day, we picked Descope - plug-in identity (passkeys/MFA) so teams ship features, not auth If you’re in neobanks, cards, or wallets, eye this

Resistant AI raises $25m Series B to expand anti-fraud tech - FinTech Futures: Resistant AI, a Prague-based fraud prevention fintech, has secured a $25 million Series B funding round led by German venture capital firm DTCP. #finpeform #fintech

Last week, Persona, the identity verification (IDV) start-up, announced an interesting new product: Persona Connect. The product tackles major pain points in the IDV/KYC space: repetitive identity checks, high customer drop-off rates, and the rising costs of re-verifying users across every new platform. Its vision is ecosystem-wide identity reuse, where users can consent to share verified data across trusted partners. From my time in the IDV space, this feels like a smart move. Still, mass adoption could be tough. Two key challenges stand out: deep consumer skepticism around data sharing (even with consent) and the reluctance of risk-averse organizations to give up control of verified data due to liability concerns. Time will tell whether the industry buys in, or if Persona Connect remains limited to niche use cases. A worthwhile read for anyone in FinTech or Compliance: https://lnkd.in/gDsBqiQs #KYC #IDV #Fintech #Compliance #PersonaConnect

Persona Unveils Connect at Money20/20 USA At Money20/20 USA, Persona, a leader in identity verification technology, announced the launch of Persona Connect, a pioneering platform designed to help organisations securely share and reuse verified personal and business identity data. This innovation establishes the foundation for a consent-driven, trusted data exchange system that eliminates friction in onboarding, improves compliance readiness, and supports scalable business growth. https://lnkd.in/dWugcBWf