Nuggets selected by Accenture for FinTech Innovation Lab
Nuggets, which stores personal information and payments data through blockchain technology, has been successful in freeing companies from the burden of digital security. The startup, which was founded in 2016, provides organisations with a secure digital process that identifies employees while hosting its platform through Blockchain technology. This helps users maintain control of their data. Demand for the service has increased significantly over the past 12 months and Nuggets looks set to scale the business.
The news follows on from the company's announcement at the end of January 2021, that it was joining the . The Alliance consists of public and private sector organisations that share a common commitment to ID for all.
The decision to include Nuggets in the Accenture programme will see the fintech company enhance its current features and develop new ones over the next few months.
Cybersecurity and Nuggets
With the global digital transformation following the pandemic, the identification process has become a primary concern for millions of companies worldwide. Breaches are becoming increasingly commonplace and added layers of security, such as contactless interfacing and biometric authentication is in demand.
The technology has also had to evolve to encompass the ID of people wearing protective clothing, such as face masks and visors. Facial recognition and thermal screening techniques, applied to mobile apps, are all on track as part of a new normal following the catastrophic changes wrought by COVID-19.
Accenture's FinTech Lab
Accenture's London-based Innovation Lab is well known for boosting opportunities for fintech startups. The course is in demand, with 450 companies applying for a place on the latest round. The current programme is helping 20 startups hone their offerings - and won't conclude until the last week of March 2021.
Startups benefit from the expertise of executives of 40 UK companies. The current cohort includes several prominent organisations with specific interests in secure digital ID, such as NatWest, Lloyds, HSBC, and JP Morgan. The move will also help Nuggets establish useful contacts and connections with some decision-makers to help enhance the profile of their technology.
, Co-Founder and COO of Nuggets, explained, "Being accepted into the programme is a tremendous opportunity that will enable us to showcase our technology to every bank and financial institution who are all looking for a fast, safe path to innovation, especially when it comes to privacy,"
FinTech Innovation Lab Programme Director with Accenture UK, added, "If there's anything we've learnt from such a challenging time, it's that there's never been a greater need for purposeful organisations to make a difference at speed. With a customer-first outlook and innovative capabilities, FinTechs may hold the key to quickly helping society on its road to recovery, making them valuable partners in the industry."
Check Point: Securing the future of enterprise IT
Cybersecurity solutions provider Check Point was founded in 1993 with a mission to secure ‘everything,’ and that includes the cloud. Conscious that nothing remains static in the digital world, the company prides itself on an ability to integrate new technology with its solutions. Across almost three decades in operation, Check Point, with its team of over 3,500 experts, has become adept at protecting networks, endpoints, mobile, IoT, and cloud.
“The pandemic has been somewhat of an accelerator in the evolution of cyber risk,” explains Erez Yarkoni, Global VP for Cloud Business. “We had remote workers and cloud adoption a long time beforehand, but now the volume and surface area is far greater.” Formerly a CIO for several big-name telcos before joining Check Point in 2019, Yarkoni considers the cloud to be “part of [his] heritage” and one of modern IT’s most valuable tools.
Check Point has three important ‘product families’, Quantum, CloudGuard, and Harmony, with each one providing another layer of holistic IT protection:
- Quantum: secures enterprise networks from sophisticated cyber attacks
- CloudGuard: acts as a scalable and unified cloud-native security platform for the protection of any cloud
- Harmony: protects remote users and devices from cyber threats that might compromise organisational data
However, more than just providing security, Yarkoni emphasises the need for software to be proactive and minimise the possibility of threats in the first instance. This is something Check Point assuredly delivers, “the industry recognises that preventing, not just detecting, is crucial. Check Point has one platform that gives customers the end-to-end cover they need; they don't have to go anywhere else. That level of threat prevention capability is core to our DNA and across all three product lines.”
In many ways, Check Point’s solutions’ capabilities have actually converged to meet the exact working requirements of contemporary enterprise IT. As more companies embark on their own digital transformation journeys in the wake of COVID-19, the inevitability of unforeseen threats increases, which also makes forming security-based partnerships essential. Healthcare of Ontario Pension Plan (HOOPP) sought out Check Point for this very reason when it was in the process of selecting Microsoft Azure as its cloud provider. “Let's be clear: Azure is a secure cloud, but when you operate in a cloud you need several layers of security and governance to prevent mistakes from becoming risks,” Yarkoni clarifies.
The partnership is a distinctly three-way split, with each bringing its own core expertise and competencies. More than that, Check Point, HOOPP and Microsoft are all invested in deepening their understanding of each other at an engineering and developmental level. “Both of our organisations (Check Point and Microsoft) are customer-obsessed: we look at the problem from the eyes of the customer and ask, ‘Are we creating value?’” That kind of focus is proving to be invaluable in the digital era, when the challenges and threats of tomorrow remain unpredictable. In this climate, only the best protected will survive and Check Point is standing by, ready to help.
“HOOPP is an amazing organisation,” concludes Yarkoni. “For us to be successful with a customer and be selected as a partner is actually a badge of honor. It says, ‘We passed a very intense and in-depth inspection by very smart people,’ and for me that’s the best thing about working with organisations like HOOPP.”