Fingopay Ranks 9th on Fast Company’s Most Innovative List for Europe

Fingopay, the maker of a biometric payments platform, has been listed in Fast Company’s latest edition of their annual list of the World’s Most Innovative Companies for 2020, ranking 9th in the Europe section.

The list shines a spotlight on the businesses that Fast Company deems are making the most profound impact in the constantly-changing landscape of today’s world.

“We are thrilled to be named in the top ten most innovative companies in Europe by Fast Company. Snap, Siemens, Tesla and Beyond Meat are just some of the names also credited so it really is an honour to be included,” said Fingopay CEO Nick Dryden. “Our biometric finger vein payment technology offers an innovative and unique way to pay, prove ID or use for access, and our work to date demonstrates the future potential of biometrics,” he added.

Using Hitachi’s VeinID technology, Fingopay’s platform allows customers to authenticate their identity and make payments using their finger. Fingopay works by having infrared lights map the unique pattern of the veins in the user’s finger, allowing the unique signature to be used for authentication in a cloud-based matching process that takes two seconds.

Fingopay stresses the security of its system, pointing out that unlike other biometric authentication technologies — fingerprints, face scanning, voice matching — vein patterns leave no trace and cannot be copied.

Recently, Fingopay partnered with payment company Reflow to complete the world’s first bank-to-bank, face-to-face transaction using Finger VeinID.

Sources: Fast Company

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March 17, 2020 – by Tony Bitzionis