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Dow Jones News
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FinLab AG: AUTHADA's digital identification solution goes live with Paysafe Group

Dow Jones received a payment from EQS/DGAP to publish this press release.

DGAP-Media / 2018-07-05 / 14:00 
 
*The Austrian provider of prepaid solutions - paysafecard - is now offering 
customers a new solution from AUTHADA for fast and secure online 
identification.* 
 
Darmstadt/Vienna. July 4, 2018 - New customers of one of the global market 
leaders in the field of online prepaid payment methods - paysafecard - are 
now identifying themselves with the App from AUTHADA, a portfolio company of 
FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR). paysafecard offers 
prospective customers the opportunity to register for their online payment 
account "my paysafecard" and to identify themselves securely and faster than 
ever: With NFC (Near Field Communication) smartphone technology, users only 
need their ID card and the corresponding six-digit PIN for digital 
identification. With this integration, paysafecard is one of the first 
renowned players in the financial sector to implement AUTHADA's eID mobile 
identification solution as it continues to pioneer the digitalization of the 
financial sector. 
 
With AUTHADA ident, paysafecard offers new customers a solution that offers 
unique advantages over other identification products: remote identification 
with the AUTHADA app takes just a few seconds and can be used from anywhere 
at any time. Customers need only an NFC-enabled smartphone or tablet, and 
with the electronic identity (eID) of their ID card and PIN customers are 
able to confirm their identity to a service provider within seconds. The 
accelerated KYC process (Know Your Customer) results in an extremely low 
dropout rate when acquiring new customers. 
 
And AUTHADA products are also impressive beyond just the onboarding process. 
AUTHADA also meets the requirements for the verification check in accordance 
with the German Banking Act (KWG), which is particularly relevant for credit 
institutions and insurers. The eID Core solution guarantees maximum security 
and is the first and only identification procedure in Germany to be 
certified by the Federal Office for Information Security (BSI). 
 
"The Paysafe Group, as an established player in the financial industry, has 
proven with their decision to implement this identification method that the 
industry is ready for AUTHADA," says Jörg Jessen, CEO and co-founder of 
AUTHADA. Udo Müller, CEO of paysafecard, confirms: "The eID function is a 
technology that corresponds to our digital age as well as the high level of 
user-friendliness - we require. I personally expect this identification 
process to be a success." And Jörg Jessen adds: "We are very pleased and 
hopeful to achieve another go-live in the financial sector in the coming 
weeks with our product AUTHADA ident. But this much can be revealed: In the 
next few weeks, other large financial service providers will soon follow." 
 
*About AUTHADA GmbH:* 
AUTHADA GmbH is a cybersecurity start-up founded in May 2015 as a spinoff of 
the Darmstadt University of Applied Sciences. The eID-Core solutions use the 
electronic identity of personal ID cards via a mobile or stationary device 
to verify existing or prospective customers within seconds. Since the 
product is based on national and international safety standards and legal 
requirements, it is certified by the German Federal Office for Information 
Security (BSI) and can therefore be considered safe to use and reliable. 
 
*Press contact:* 
AUTHADA GmbH 
info@authada.de 
www.authada.de 
www.twitter.com/AUTHADA_GmbH 
Phone:+49 6151 2752 500 
 
*About FinLab AG:* 
Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / 
ticker symbol: A7A) is one of the first and largest company builders and 
investors focused on the Financial Services Technologies ("FinTech") sector 
in Europe. FinLab focuses on developing German FinTech start-ups and 
providing venture capital for their financial needs, whereas in each case 
the aim is a long-term participation and ongoing support of the investment. 
FinLab also invests globally, as part of venture rounds, in FinTech 
companies, primarily in the USA and Asia. 
 
*Press contact:* 
FinLab AG: 
investor-relations@finlab.de 
www.finlab.de 
Phone: +49 69 719 12 80 0 
 
End of Media Release 
 
Issuer: FinLab AG 
Key word(s): Enterprise 
 
2018-07-05 Dissemination of a Press Release, transmitted by DGAP - a service 
of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
The DGAP Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language: English 
Company:  FinLab AG 
          Grüneburgweg 18 
          60322 Frankfurt/Main 
          Germany 
Phone:    +49 (0)69 719 12 80 - 0 
Fax:      +49 (0)69 719 12 80 - 011 
E-mail:   investore-relations@finlab.de 
Internet: www.finlab.de 
ISIN:     DE0001218063 
WKN:      121806 
Indices:  Scale 30 
Listed:   Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt 
          (Scale), Stuttgart, Tradegate Exchange 
 
End of News DGAP Media 
 
702003 2018-07-05 
 
 

(END) Dow Jones Newswires

July 05, 2018 08:00 ET (12:00 GMT)

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