07 Mar 2015 - Sedicii selected for prestigious Plug and Play FinTech Accelerator in Silicon Valley

Accelerator Program with Partners Citi Ventures, USAA, Capital One & Intuit enrolls 29 FinTech & Security Startups in Inaugural Class

Waterford, Ireland, 7th March, 2015 – Sedicii, the award winning Irish company for authenticating users and payments, has received a strong endorsement by being selected from over 850 applicants for the Plug and Play FinTech Accelerator in Sunnyvale, California. It was chosen by Plug and Play Tech Center and in partnership with Citi Ventures, Capital One and USAA, the company will now participate in the 12 week accelerator program in the heart of Silicon Valley.

Sedicii’s innovative solutions are based on its patented technology that use the Zero Knowledge Proof Protocol to protect passwords and other private data. With Sedicii, private data is not transmitted or stored anywhere when a person authenticates themselves, processes a payment or verifies their identity. The Sedicii process proves that two parties know the same information without ever exchanging or exposing this information, thus providing the capability to prove identity without ever exchanging the actual attribute data. In protecting the user’s private data, Sedicii eliminates a person’s exposure to identity theft, impersonation and the likelihood of any resulting fraud. Sedicii’s architecture provides robust and innovative authentication which increases convenience, whilst radically improving the security of users’ data.

With over $16 billion being stolen in the United States through the theft of identity data in 2014, the growth in mobile commerce and in new digital services (IoT, etc) and with the enhanced sophistication of data hacking technology, private user data will become more vulnerable to theft. The current methods of protecting private user information, required for authentication, are open to exploitation and more innovative and secure methods are needed. Because the Sedicii process does not require the disclosure of passwords, or other identity attributes, it delivers a better and more reliable way of securing users’ private data.

Commenting on Sedicii’s participation in the Plug and Play FinTech Accelerator Rob Leslie, CEO of the company said: “After significant industry endorsements in the US and Europe in 2014, we are delighted to be chosen to participate in this very prominent accelerator program. Plug and Play, and its partners, will provide a strong platform for Sedicii to launch its authentication and identity based services in the United States. We look forward to successfully participating in this globally recognised accelerator program.”

Plug and Play Tech Center is based in Sunnyvale, CA and has attracted the best global start-ups across its corporate accelerator programs in FinTech, Brand & Retail, Internet of Things, and Media & Mobile, where each partner has the opportunity to meet top startups that offer innovative solutions specific to their respective industries.

About Sedicii

Sedicii provides a robust and intuitive anti-phishing, single sign-on capability with mutual authentication, where users are not requested to reveal their passwords at visited websites, networks or other services. Sedicii authenticates without ever exchanging, storing or exposing your password or other personal user information. It is an easy to use, robust and scalable solution to the challenge of authenticating people for all kinds of digital services in the 21st century. Sedicii is also working with key industry leaders in defining and piloting trusted identity verification, federated identity solutions for general release in 2015.

About Plug and Play Tech Center

Plug and Play Tech Center provides funding, mentorship and acceleration to start-ups and first-time entrepreneurs to help them bring to market the next disruptive solution for the growing worldwide economy. Their global network of mentors & advisors help start-ups further their product development & prepare them to present to Silicon Valley’s top investors.

Learn more here: http://plugandplayaccelerator.com/fintech

For further information, please contact:

Richard Coady

Commercial Director