Face biometrics provider Hummingbirds AI picked for accelerator program
Cyber security solution provider Hummingbirds AI has been chosen for the MassChallenge start-up accelerator program which will enable it to gain access to a wide spectrum of partners, expert mentorship and other opportunities for business growth. Digital ID verification company OCR Labs has been listed on the Fintech Power 50 2022 cohort, while Idemia has been conferred the 2022 Global Competitive Leadership Strategy Award for its strides in digital ID solutions innovation and leadership.
Hummingbirds AI picked for MassChallenge program
Computer vision firm Hummingbirds AI says it has been chosen to join over 200 other start-ups for the 2022 MassChallenge early-stage cohort program. The program aims to attract top founders from around the world to provide tools and resources to early-stage firms, without taking any equity in the firms.
According to a blog post on its website, Hummingbirds AI said it was selected from over a thousand applicants thanks to its robust business model and privacy-first biometric authentication technology, its ability to maximize workforce productivity while keeping the devices secure, and making authentication passwordless, safe and continuous.
The selection of the start-up for the accelerator program comes not long after it won the Vision Tank Competition 2022 for developing GuacamoleID – a privacy-first facial biometric tool which helps eliminate repetitive multi-factor authentication during an active session, and welcomes a passwordless re-authentication which is time-saving and easy-to-use, according to the blog post.
Hummingbirds AI founder Nima Schei told Forbes in an interview that GuacamoleID is a response to the growing wave of cyber risk which is not being given the required attention.
OCR Labs included in Fintech Power 50 2022 list
From more than 1,200 companies nominated, OCR Labs was among the 40 companies that made it into the Fintech Power 50 2022 list, according to a company press release.
The Fintech Power 50 is a list of the 40 most innovative companies and 10 visionary personalities shaping the financial services industry.
Published every year, the program seeks to encourage and support change and creativity in the financial services industry, while helping players in the sector to be innovative and growth-oriented.
Speaking as he announced the winners, co-founder and chief operating officer of the Fintech Power 50, Mark Walker, said: “The Fintech Power 50 annual list acts as a much-needed reminder of all the great things we are achieving in the world of financial technology, and shines a spotlight on those who are transforming financial services for the better. It’s fantastic to be here at Fintech Week London to announce this year’s fabulous 50. Our prestigious guide continues to go from strength to strength with a record number of nominations and votes for fintechs based across the globe.”
Russ Cohn, general manager, international, of OCR Labs, commented: “Since our Series B raise earlier this year, we’ve continued to expand internationally and grow the team in our London headquarters. We are honored to be included in this year’s Fintech Power 50 cohort.”
OCR Labs raised US$30 million earlier this year to boost its face biometrics market presence.
Idemia gets innovation, leadership accolades
Idemia has been honored with the consulting firm Frost and Sullivan’s 2022 Best Practices Award in the category of ‘Global Digital Identity Solutions Competitive Strategy Leadership’.
The company said in an announcement that the award underpins its efforts in the delivery of state-of-the-art innovative technologies ranging from biometrics technologies, data security, cryptography, and authentication through smart devices, and other advanced offerings.
It is also recognition for what it says is its customer-centric approach which permits the company to earn the loyalty of its customers and position itself as one of the preferred options in the market for large scale physical and digital identity projects, per the announcement.
“Frost and Sullivan believes Idemia is prepared for today’s demands and exceptionally positioned for tomorrow’s needs. The company’s clear strategic vision and execution underpin its partner of choice status and sustainable growth for years to come,” said Steven Lopez, Best Practices Research Analyst at Frost and Sullivan.
“Given the company’s brand reputation across governments, Idemia addresses its ability to reach across markets with a strong presence in the civil ID market, managing the digital journey and enabling digital ID.”
Pierre Lelièvre, senior vice president digital ID and services at Idemia remarked: “This award reflects the quality of work IDEMIA has accomplished alongside our clients worldwide. It is the recognition of our advanced digital ID solutions. Our technologies are based on powerful R&D that help us to meet the evolving needs of our clients, so they can be prepared for upcoming challenges.”
The company’s VP of innovation and client engagement recently authored a position paper which proposes broader evaluation of AI algorithms to enhance more confidence in biometrics and other advanced technologies