$6.4B of online fraud occurs every year in the US alone.
When it comes to secondary measures that are in place to verify an online purchase, the gatekeeper is almost exclusively that three digit number on the back of your card called the Card Verification Number (CVV).
But how much of a deterrent can that actually be?
Imagine if that little three digit code changed dynamically on an ongoing basis, would that feel more secure? Of course!
Enter Keyno. Their CVVKey is a two-factor authentication firewall that changes dynamically and is a cinch to use.
The Future of Keyno
With 10+ prospective banks in their pipeline, Keyno is set to start scaling quickly. Built on a model where it’s free for the end user with the bank picking up the tab for the service fee, Keyno is ultimately a win-win because it pays for itself quite quickly through its fraud prevention.
What Interested Investors Need to Know
Three things that investors should take note of:
- Huge need: Keyno is attacking a $6.4B issue.
- Easy to use: Only 3 step process for banks who opt in and it doesn’t even require any integration.
- Huge target market: 88% of all consumers are concerned that their data will be stolen.