We’re so happy to announce that our Aussie startup has been announced as the winner of the FinTech category at the prestigious World Cup Tech Challenge!
The event took place on the 1st of June, 2016 at the Microsoft Campus in Silicon Valley. This event is run by the Silicon Valley Forum, which is the largest and oldest non-profit organisation in the Silicon Valley which fosters entrepreneurship and investment. The competition itself was a tough process. Finalists had to deliver a 5-minute pitch in front of 3 judges as well as the several hundred people who are in the audience.
Graeme Speak, CEO of BankVault, said, “It’s a massive achievement for us at BankVault. It’s a great acknowledgement which shows the world that our BankVault product gets the seal of approval from Silicon Valley. Thanks everyone who’s encouraged, supported, and invested in us. Thanks especially to my very special team!”
24 start-ups were finalists in the World Cup Tech Challenge 2016 which was held at the Microsoft campus in Mountain View on the 1st of June, 2016. This annual competition is where innovative tech start-ups from around the world compete to win in six different categories: Financial Technology, Internet of Things, Biotechnology, Augmented/Virtual Reality, AI/Robotics, and Agricultural Technology. Congratulations to all of the finalists for developing amazing and innovative products!
BankVault stops bank account hacking and secures online transactions by creating invisible endpoint devices which bypass hackers. The official records report cyber hackers cost Australian’s $1.2 Billion last year, although the real figure is considered to be 17x larger than this. BankVault has Many application outside of banking too. It can also be used against ransomware and other malware when opening suspicious emails and browsing online. The vast majority of cyber-attacks target the users PC or smartphone (the endpoint device) and the bank security fob and SMS’s are easily defeated. Any delay in compensation while the bank investigates can have dire consequences for both individuals and businesses. Trust account holders are particularly vulnerable as they must personally replace stolen funds in under 24 hours or their business can be shut down.