{"id":51037,"date":"2019-08-02T08:08:20","date_gmt":"2019-08-02T06:08:20","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=51037"},"modified":"2019-07-31T15:01:30","modified_gmt":"2019-07-31T13:01:30","slug":"idea-7-questions","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/51037\/idea-7-questions\/","title":{"rendered":"IDEA: Theft-proof digital identity"},"content":{"rendered":"
\n

The Munich-based startup IDEE aims to create digital identities that are secure against any hacker attack thanks to cryptography and blockchain. At the same time, the process should be simple for the user.<\/strong>
multiple patented<\/strong> Technology currently employs 16 men and women at locations in Munich, London, and Belgrade. Founder Al Lakhani answered our 7 questions. <\/strong><\/p>\n\n\n\n

1.<\/strong> Who are you and what do you do?<\/strong><\/p>\n\n\n\n

My name is Al Lakhani, I am 43 years old and I am the Managing Director of IDEA<\/a>I was born in India, but I lived in the USA and Switzerland for many years. Munich is my adopted home, which is why IDEE has been based here since its founding in 2015. The technology we offer today actually originated in a small London caf\u00e9: a digital identity based on cryptography and Blockchain <\/a>based and is reusable using a smartphone.<\/p>\n\n\n\n

The impetus for this development was the increasing number of cyberattacks and data breaches that repeatedly destabilize many companies. And the topic wasn't new: Before founding IDEE, I worked for almost 20 years in forensic data analysis and cybercrime, primarily in Europe and the US. We investigated serious cases of cybercrime, including the Lehman Brothers case. It was precisely to solve such cases that I founded and subsequently headed the forensics department at Alvarez & Marsal. With 65 employees and $35 million in revenue, we were not only the largest but also the most powerful intelligence unit at the time. <\/p>\n\n\n\n

Where there are passwords, every hacker can get to them <\/h2>\n\n\n\n

But that didn't change the cause or the actual problem. Because where there are passwords and login credentials, any hacker will get to them sooner or later. Hence the IDEA. I wanted to create a solution that makes user identities trustworthy without requiring a password or any other form of knowledge from the user. Something that would make the user identity virtually unassailable. <\/p>\n\n\n\n

After not only making the identity theft-proof, we also made it reusable. This allows end users to reuse login or payment credentials, and much more, for other products and services without data entry. This allows companies to monetize their customer data.<\/p>\n\n\n\n

IDEE makes identity not only theft-proof, but also reusable <\/h2>\n\n\n\n

2.<\/strong> But that's been around for a long time!<\/strong><\/p>\n\n\n\n

What I've learned in my time as a cybersecurity expert is this: When millions of user accounts are hacked, the weakest link in the chain is always the lack of a unique identity. User data can easily be stolen or falsified. <\/p>\n\n\n\n

Before IDEE, the only alternative for companies was to make the authentication process truly complex. However, this primarily resulted in one effect: user frustration. So, it all comes down to the same question: How can digital identities be made secure and trustworthy, yet convenient at the same time?<\/p>\n\n\n\n

That's why we developed IDEE's digital identity, which works without passwords, cannot be stolen, and is designed with the highest level of customer orientation: For each transaction, you only need to unlock your smartphone.<\/p>\n\n\n\n

Patience pays off<\/h2>\n\n\n\n

3. What is your biggest challenge?<\/strong><\/p>\n\n\n\n

The biggest challenge for us is the lengthy and very comprehensive processes in large companies. As a startup, we're used to operating quickly, flexibly, and agilely. But many large corporations understandably move much more slowly. So, getting the first paying customers is a long and intensive process. You go through many rounds, talk to multiple decision-makers, and above all, you need one thing: patience.<\/p>\n\n\n\n

But so far, it's paid off. Because once all these steps and levels have been completed, we also convince the relevant stakeholders.<\/p>\n\n\n\n

4. Let\u2019s get down to business: How is business going?<\/strong><\/p>\n\n\n\n

To be honest, things are going great! We have ten pilot projects with major companies in retail, finance, and mobility. And at the end of the year, we'll begin implementing our age verification solution in the UK. This use case offers us a potential reach of 26 million users. <\/p>\n\n\n\n

Lederhosen as part of the corporate identity <\/h2>\n\n\n\n

5. What does Munich mean to you?<\/strong>
I wasn't born in Munich, but I love it. It's the right place for my team and me. The startup community is fantastic; there are many large companies here that are happy to collaborate with innovative startups. <\/p>\n\n\n\n

And besides, the atmosphere in the city is simply fantastic. I love the whole beer garden culture, including lederhosen. So much so that they're part of our corporate identity. We don't have a pitch, no event without lederhosen<\/a>! And I usually wear them to the office too.<\/p>\n\n\n\n

\u201cWe provide the technology that prevents credential theft.\u201d<\/h2>\n\n\n\n

6. Will your startup become the next unicorn? Or will we see you soon at Epic Fail Night?<\/strong><\/p>\n\n\n\n

IDEE will revolutionize the market for authentication, identification, and authorization. Everyone authenticates themselves several times a day, whether for car sharing, at the office door, logging into a work computer... and many other digital services. We replace the terribly outdated concept of username and password. 81% of all hacker attacks involve passwords. In 2017, more than 2.3 billion credentials were stolen. We offer the technology that prevents credential theft.<\/p>\n\n\n\n

That may sound a bit boastful, but the awards we're receiving demonstrate that we're an innovative tech startup on the rise. One of the most important signs for us is that what we do is relevant and well-received: Last year, we won the "Retail Innovation Award" from the German Retail Association.<\/p>\n\n\n\n

7. Isar or English Garden?<\/strong>
I live in Munich with my wife and two sons, so being outdoors is basically on our agenda, if only for the sake of the kids. We don't really have a preference, but our fifth family member clearly sets the tone: Our Golden Retriever, Newton, loves the English Garden! So I'd say I prefer walking along the Eisbach with Newton. It's fantastic, especially now in the summer!<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

The Munich-based startup IDEE aims to create digital identities that are secure against any hacker attack thanks to cryptography and blockchain. At the same time, the process should be simple for the user. Sixteen people are currently working on the multi-patented technology at locations in Munich, London, and Belgrade. Founder Al Lakhani has our 7...<\/p>","protected":false},"author":22,"featured_media":51336,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5638,1],"tags":[1636,3254,1665,1585],"acf":[],"yoast_head":"\nIDEE: Diebstahlsichere digitale Identit\u00e4t - Munich Startup<\/title>\n<meta name=\"description\" content=\"Das Startup IDEE will digitale Identit\u00e4ten schaffen, die dank Kryptographie und Blockchain vor Hackerangriffen sicher und f\u00fcr Nutzer einfach bedienbar sind.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cms.munich-startup.net\/en\/51037\/idea-7-questions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IDEE: Diebstahlsichere digitale Identit\u00e4t - 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