Photo - IPification
play_arrow
View
50516

IPification

Building the backbone of mobile auth of today & tomorrow

Market: Internet and IT, Services
Stage of the project: Operating business

Date of last change: 11.01.2021
Show contacts
12
equalizer from 2000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:
 

Idea

IPification is building the backbone of mobile authentication of today and tomorrow. By verifying the device, SIM & phone number via IP address.

IPification patented technology is enabling secure, passwordless, zero-tap compatible mobile user authentication, registration, transaction approval, and fraud prevention solutions for any mobile application.

Readily available across numerous countries and regions, IPification is trusted by some of the leading telco, technology, payment, and OTT companies including Microsoft, GBG, DataZoo, 3HongKong, Axiata Digital.

Current Status

Growth to date:
11 markets, 25 telecom operators live (350+M subscribers)
45+ mobile operators in the assessment/PoC phase

In 2020 commercial rollout started with Merchants/App developers

Bootstrapped with over US$7 million investment, IPification saw first revenues coming in Q3 2020.
FY2020 Rev: $1.8M;
FY2021 Rev (est.): $35M;
FY2022 Rev (est.): $230M

Telecom partners:
Live/Deployment -- UK, Hong Kong, Cambodia, Macao, Montenegro, Peru, Serbia, Vietnam, Iraq, Kuwait, Mongolia, Indonesia
Coming soon -- Pakistan, India, Philippines, Argentina, South Korea, Spain, Saudi Arabia, Switzerland

Merchants: CarGo App First in Europe to Enable One-Click User Registration with IPification (https://www.ipification.com/press/cargo-app-first-in-europe-to-enable-one-click-user-registration-with-ipification/)

Market

POTENTIAL MARKET SIZE:
- Mobile Identity and Authentication market size - US$34B to be reached by 2022. (Source: One World Identity)
Growth to date:
11 markets, 25 telecom operators live (350+M subscribers)
45+ mobile operators in the assessment/PoC phase

In 2020 commercial rollout started with Merchants/App developers

Bootstrapped with over US$7 million investment, IPification saw first revenues coming in Q3 2020.
FY2020 Rev: $1.8M;
FY2021 Rev (est.): $35M;
FY2022 Rev (est.): $230M

Telecom partners:
Live/Deployment -- UK, Hong Kong, Cambodia, Macao, Montenegro, Peru, Serbia, Vietnam, Iraq, Kuwait, Mongolia, Indonesia
Coming soon -- Pakistan, India, Philippines, Argentina, South Korea, Spain, Saudi Arabia, Switzerland

IPification authentication method is suitable to be used by many different customer segments in the given country for:
- App / Mobile Web developers - to increase conversion rates thanks to seamless user journey during registration and login, increased number of transactions and a higher level of user experience
- Banks and Fintech companies - to enhance security measures, transaction confirmations and robust authentication
- Corporations - to match employees’ mobility and data security, making workforce mobile, trusted remote access to working tools
- Government - to reduce administration cost and time frames, enabling digital IDs (both eID and mID) with smooth and secure User authentication

Besides, Mobile Subscribers (users) are also benefiting from IPification by:
- Having their Privacy fully protected (peace of mind)
- Being provided with the highest level of online security (enhancing trust)
- Providing them with the most convenient login/registration method (drive adoption)

Problem or Opportunity

IPification revolutionises mobile authentication and enhances users experience without compromising security and privacy. IPification provides the verification of phone number, SIM and device via IP addresses.

In the mobile and digital age, users require a FAST and SEAMLESS mobile authentication solution. However, mobile cybercrime and frauds are becoming the never-ending headache for CIOs, app developers and MNOs need a SECURE solution they can rely on.

Sadly, online privacy is already compromised through most of the existing services; all the parties in the ecosystem seek an authentication factor which will not require sensitive data to be shared to 3rd parties.

With IPification, online service providers ranging from banking apps, streaming apps, email service providers, social networks, online gaming platforms and so forth will have the capability to uplift their user experience through a hassle-free user flow, whilst enhancing the security of their service with our top-notch security protocol and standards.

Our bullet-proof security and privacy protection are created with a unique Mobile ID. IPification is using proprietary technology to create a unique Mobile ID by hashing several key telecom network-related information embedded on every SIM card such as MSISDN, IMSI and IMEI. These values can detect any sensitive changes related to the SIM card or device.

The Service URI is another crucial element of the Mobile ID. Combining with the above-mentioned values, it ensures the Mobile ID created will be unique on the service level. By doing so, it will be virtually impossible to track the user across digital touch-points (most often for, but not limited to, marketing and advertising purposes). Therefore, users’ privacy can be completely safeguarded.

IPification makes the hassle-free user flow possible as users can be authenticated without performing any action. It can seamlessly authenticate the mobile users based on their Public IP address while the users are “on-net”. Though changes of Public IP (and port values) on the user’s side could be frequent, IPification is still always able to identify and resolve all those different IP addresses changes.

IPification aims to respond to the ever-growing challenges of mobile security that arise from SIM Swapping, the change of mobile numbers and detection of accurate changes to Devices. We are introducing a unique method for creating a Mobile ID that would not require any subsequent, additional examination and/or verification, in any of the above-mentioned examples.

Solution (product or service)

IPification is the first, and the one of a kind seamless authentication technology based on secure protocol.
In terms of security, user experience and privacy, IPification offers a massive advantage over SMS one-time PIN and header enrichment, the two most commonly used mobile authentication methods today.

As an OS and device-agnostic solution, IPification can instantly authenticate users based on the public IP address without taking any unreliable data and parameters from the app and device that can be spoofed by the hackers.

The patented IPification technology offers a powerful tool for mobile network operators to stand against the competition such as biometrics, social networks, AI, and so forth.

IPification utilises one of a kind method for creating a Mobile ID based on several different network-based parameters and service URI in the authentication process. This specific hashed value which is inimitable on a service level will enhance app/service security and privacy protection.

Patents:
HK (1248463)
US (15928348)
UK (1803719.2), pending

IPification explainer videos:
https://www.youtube.com/watch?v=L7PEyKZLYQo&t
https://www.youtube.com/watch?v=hDamZvySzoI

Competitors

Competitors -- Companies providing Biometric solutions, SMS 2-factor authentication, third party authenticator apps, header enrichment and so forth.

IPification is the first, and the one-of-a-kind seamless authentication technology based on secure (HTTPS) protocol.
In terms of security, user experience and privacy (as per comparison provided in additional materials), IPification offers a massive advantage over SMS one-time PIN and header enrichment, the two most commonly used mobile authentication methods today.

As an OS and device-agnostic solution, IPification represents a unique technology that can instantly authenticate users based on the public IP address without taking any unreliable data and parameters from the app and device that can be spoofed or tweaked by the hackers.

HTTPS is the new standard of the internet, and so the existing and insecure authentication methods including header enrichment and plain HTTP protocol will become obsolete. Furthermore, both Apple and Google are going to ban all HTTP requests coming from Android and iOS apps.

Therefore, the patented IPification technology can address all these challenges and trends. Moreover, it offers a powerful tool for mobile network operators to stand against the competition such as biometrics, social networks, AI, and so forth.

As mentioned, IPification is utilising a one-of-a-kind method for creating a Mobile ID based on several different network-based parameters and service URI in the authentication process. This specific hashed value which is inimitable on a service level will enhance app/service security and privacy protection.

Advantages or differentiators

THE BARRIERS TO ENTRY FOR A COMPETITOR TO REPLICATE
IPification is currently the ONLY vendor for Telecom based solution (GMID™ box) which enables them with the seamless and secure authentication capabilities. IPification needed more than three years of building a robust platform and collecting the necessary know-how (learning by doing). Therefore, it is tough for the new entrants to try to replicate this, regardless of the challenger size.

Sales cycles with Telecom operators are very long, so once any agreement is in place, it is an arduous and lengthy process for similar vendors to acquire/offer the same service directly.

And most importantly, the IPification solution is protected by patent:
HK (1248463)
US (15928348)
UK (1803719.2), pending

Finance

POTENTIAL MARKET SIZE:
- Mobile Identity and Authentication market size - US$34B to be reached by 2022. (Source: One World Identity)

Potential Revenue (Assuming we get 1% of the global market):

IPification Potential REVENUE DAILY (USD, in thousands)
North America: 4,947.9
Latin America: 1,979.2
Western Europe: 3,364.6
Central and Eastern Europe: 2,177.1
North East Asia (incl. China): 7,916.7
South East Asia and Oceania: 2,572.9
India, Nepal and Bhutan: 3,760.4
Middle East and Africa: 2,572.9
TOTAL: 29,291.7

IPification Potential GROSS MARGIN DAILY (USD, in thousands)
North America: 1,649.3
Latin America: 659.7
Western Europe: 1,121.5
Central and Eastern Europe: 725.7
North East Asia (incl. China): 2,638.9
South East Asia and Oceania: 857.6
India, Nepal and Bhutan: 1,253.5
Middle East and Africa: 857.6
TOTAL: 9,763.9

(for the more detailed information please see slide 9 in the presentation "IPification_application.pdf")

Forecast:
2021
- Extending connectivity to additional 55+ Telecoms across APAC, NA, MENA and EUROPE
- Offering IPification for Cellular IoT based solutions

2022
- Extending connectivity to additional 63+ Telecoms across APAC, NA, AFRICA, LATAM and EUROPE
- Increase our Merchant base to over 500 top Digital players both directly and through Aggregators

Business model

IPification is putting in place TWO commercial models with every MNO based on the responsibilities of each party in the ecosystem:

Business Model #1:
Serve as the full solution provider for both Telecoms and Merchants / Service Providers (IPification AAS). IPification provides the fully managed service (responsible for both GMID™ Box deployment and maintenance & service providers signing). In this case, IPification is signing the agreement and receiving the revenue per transaction from the Service Provider and forwards MNO’s revenue part.

Two pricing model available for Merchants:
- per authentication request
- per Mobile ID / daily & monthly

Business Model #2
IPification as a technical enabler for GMID™ BOX. In this case, MNO is signing the agreements directly with the Service Providers (or Authentication providers) and collects the full revenue per successful authentication. In this case, IPification receives just the standard fee per each transaction going through GMID™ BOX.

With IPification integrated, mobile operators will be able to address the existing challenges of today’s ever-growing digital user identity and authentication market. They can become a major authentication player in a new digital ecosystem by offering a highly secure and seamless user authentication service.

We aim to empower mobile operators to re-establish themselves in the digital value chain and help them to bring back their power through new revenue streams, strong partnerships with top technology companies and innovative services offered to their subscribers.

Money will be spent on

- 5% for hardware,
- 25% for salaries,
- 50% reserved for telco partnering, telco requires revenue guarantee in the beginning of production as our solution will take a good portion of SMS OTP revenue away from existing telco business. However, SMS OTP will be completely deprecated in the coming few years.
- 20% for operational expenses.

The expenses describes above are based on US$10M within the first 12 months.

Offer for investor

the current valuation is set at US$200M

Risks

IPification solution is tightly connected with Mobile Carriers, because the core component of the solution has to be deployed inside a telecom's network.

The biggest challenges during the development of the solutions were:
- To discover the mobile network components/equipment/protocols which can provide us with necessary data for such authentication method;
- To process a tremendous amount of network traffic in real-time.

However, we were able to overcome those challenges and are ready to offer the market our highly secure, credential-less, authentication solution for frictionless user experience on mobile and IoT devices.

Incubation/Acceleration programs accomplishment

No

Won the competition and other awards

1. INFOFEST 2019
Best design solution / Secure User Authentication (together with Crnogorski Telekom)
2. Annual Awards for Innovation and Initiatives 2020
Most Innovative Product
3. Globee Awards 2020
Startup of the Year | Security Services (GOLD WINNER)
4. Golden Bridge Awards 2020
Startup of the Year | Security Services (GOLD WINNER)
5. Mobile Breakthrough Awards 2020
Global Innovation Leadership Award
6. European Enterprise Awards 2020
Most Innovative Mobile Authentication Solutions Company
7. SDC Awards 2020
Data Security/Compliance Innovation of the Year (RUNNER UP)
8. Elevator Lab Challenge 2020
Best FinTech Solution (Regional Award)
9. WSA 2020
Business & Commerce
10. Security Excellence Awards 2020
Mobile Security Award
11. FinTech Awards 2020
Outstanding Mobile Authentication Solution
12. Harvard Business Council International Excellence Award 2020
- Start-up Award (Diamond Award)
- Innovation Award (Diamond Award)

Invention/Patent

IPification is a unique, proprietary seamless technology protected by patents:
HK (1248463)
US (15928348)
UK (1803719.2), pending

Product Video

5,00
1
2
3
4
5
1 voice
Sign in/Sign up
arrow_back
EN
more_horiz
close
visibility2138
star0
Add to favorites
Delete from favorites
share
close
thumb_up1
Like
Unlike
Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video