{"id":3073,"date":"2018-04-04T11:37:10","date_gmt":"2018-04-04T11:37:10","guid":{"rendered":"https:\/\/fintech.global\/globalpaytechsummit\/?p=3073"},"modified":"2018-04-04T11:37:10","modified_gmt":"2018-04-04T11:37:10","slug":"cybersecurity-company-fyde-launches-out-of-stealth-with-3m","status":"publish","type":"post","link":"https:\/\/fintech.global\/globalpaytechsummit\/cybersecurity-company-fyde-launches-out-of-stealth-with-3m\/","title":{"rendered":"Cybersecurity company Fyde launches out of stealth with $3m"},"content":{"rendered":"

yde, a cybersecurity company focused protecting mobile devices, has emerged from stealth with $3m in seed-stage funding.<\/strong><\/p>\n

The Palo Alto, California-based company raised the capital from Draper Nexus and Vertex Ventures. Having launched out of stealth, Fyde said it is signing partners in the banking and payments industries to deliver Fyde as part of their customer security portfolio. However, the company didn\u2019t reveal any further details in its\u00a0announcement.<\/p>\n

With the seed-stage funding onboard, Fyde has announced the official launch of its free Apple iOS app. The app intercepts phishing, smishing, vishing or online account takeover attacks on mobile devices in real-time, neutralising threats.<\/p>\n

According to a report by Anti-Phishing Working Group\u2019s there were 291,096 unique phishing attacks reported worldwide in the first half of 2017. These attacks occurred on 108,680 unique domains targeting 640 brands and reaching 12.4 million potential victims.
\nFyde claims to combat this issue by providing consumers with automatic blocking, instant alerts or actionable advice when a questionable site is identified.<\/p>\n

\u201cThe human factor continues to be the largest unsolved problem within cybersecurity,\u201d said Eren. \u201cWhile some companies are focusing on legacy threats such as malware and ransomware, we\u2019re zeroing in on the target that will dominate the next decade \u2014 wetware. To combat this, we\u2019ve designed a mobile platform that will serve as the first line of defense against human-centric attacks, such as phishing.\u201d<\/p>\n

It uses machine learning techniques and human analysis to differentiate between authentic and risky links and messages, protecting consumers across all platforms, including iCloud, social media and online banking. Fyde claims to provide \u2018simple onboarding and seamless operation\u2019, without adding network latency or draining the device battery, while maintaining complete user and data privacy.<\/p>\n

Fyde offers additional features such as banking session protection, text\/voice protection and breach reports to cover the full spectrum of mobile risk factors. With session protection, Fyde scans the device and the network to ensure the session is safe and secure.<\/p>\n

Text\/voice protection filters fraudulent text messages and phone numbers to thwart unwanted and abusive senders. Breach reports offer an additional layer of protection by which users are alerted to a breach of a frequented app or website on their mobile device \u2014 even if the breach happened months ago.<\/p>\n

\n","protected":false},"excerpt":{"rendered":"

yde, a cybersecurity company focused protecting mobile devices, has emerged from stealth with $3m in seed-stage funding. The Palo Alto, California-based company raised the capital from Draper Nexus and Vertex Ventures. Having launched out of stealth, Fyde said it is signing partners in the banking and payments industries to deliver Fyde as part of their… <\/p>\n

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