FinLab AG: AUTHADA's innovative eID solution goes live with German/British FinTech ayondo

FinLab AG: AUTHADA's innovative eID solution goes live with German/British FinTech ayondo

Frankfurt am Main/Darmstadt, May 15, 2018 - The digital identification solution from AUTHADA, a portfolio company of FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR), has been used for the very first time by German/British FinTech ayondo. On ayondo's Social Trading platform, users can follow the investment portfolios of successful traders and copy their strategies. In order to do so, the platform user must first register and authenticate himself as a real person.

While identification procedures in Germany were previously very complex, AUTHADA's identification solution takes just a few seconds. With AUTHADA ident, there are no queues and the procedure is available around the clock. Users can be identified anywhere with an NFC-enabled smartphone or tablet that validates their identity using the eID of their ID card and the accompanying eID PIN. Data is transmitted directly and ayondo's service is immediately available.

The main benefit is that the AUTHADA app is data-minimising and only transfers personal data that is required by law for legally compliant identification. The "eID-Core" solution from AUTHADA guarantees the highest level of security and is the first and only identification procedure throughout the whole of Germany to be certified by the Federal Office for Information Security (BSI).

"This collaboration with ayondo is an important milestone for AUTHADA. Along the way, we are setting a new standard for a safer, digital Germany and for the EU," said Jörg Jessen, the co-founder and CEO of AUTHADA. Raza Perez, CPO of ayondo, added: "We are delighted to offer our customers, together with our partner AUTHADA, a rapid customer onboarding process that is compliant with money laundering regulations and available 24/7."

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
http://www.finlab.de
Phone: +49 69 719 12 80 0

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 in order to verify existing or target 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
https://authada.de
https://twitter.com/AUTHADA_GmbH
Phone: +49 6151 2752 500