Privakey recently had the opportunity to participate in the Open Talent Identity Competition hosted by BBVA. The competition was created to highlight innovative startup companies disrupting the digital identity market. The final presentations took place at the K(NO)W Identity Conference in Washington, D.C., where Privakey was named a top 10 finalist out of more than 400 applicants.
Throughout the conference, the BBVA team worked closely with each startup, providing coaching, expertise, and feedback before their final presentations. Finalists also participated in a “Speed Dating” session where they met with members from several BBVA business units to find possible areas for collaboration.
Privakey CEO, Charles Durkin, gave a five-minute presentation that highlighted several pain points in the current landscape of digital identity and authentication, and introduced Privakey’s simple, convenient, and secure consumer authentication solution:
“Users reuse passwords. They do this to create their own version of consistency that technology has failed to deliver. They continue the behavior despite the known risk. […] Privakey users have the exact same experience from transaction to transaction, from site to site, from app to app. There’s no need for unique passwords, retrieving out-of-band codes, SMS messages, checking emails, asserting biometrics, and so forth.”
As a finalist in the competition, Privakey will compete in BBVA’s upcoming Global Trends Competition. We are honored and excited to continue working with BBVA to shape the future of digital identity.