PayKey wins first Competition at Israel HLS & Cyber 2016

PayKey, a secure payment app, has been announced as the Winner of the 2016 our startup competition – The Agora Fund Run. The competition recognises PayKey’s advanced technology for enabling the realisation of a secure peer to peer payment solution for banks compatible with the most frequently-used social and messaging applications, without compromising on speed, convenience or ease of use.

With pilots launching with leading banks in Europe and the US in 2017 PayKey’s technology is already proving that banks and fintechs are increasingly working together to find new ways to improve customer convenience and user experience, leveraging the scale of large institutions and the agility of fintechs.

Second prize and the Fund Run Runner Up was won by Secret Double Octopus, the world’s first security solution that operates without encrypted keys or certificates.

The Agora Tel Aviv Fund Run was launched in 2016 by Transfotech and MagnaCarta to identity new solutions that bridge the divide between cybersecurity and digital identity in a way that enhances use and drives adoption of digital financial services.

The competition winner was judged by a high profile judging panel that included heads of cybersecurity from Cisco Systems, Intel, Harman, Barclays, Israel Innovation Authority and EY.

The Winner gets the $50,000 investment prize in R&D from Competition Sponsor Miratech Group, the runner-up receives workspace at Barclays Rise accelerator facility in Tel Aviv.

On winning the Competition, Daniel Peled, CEO of PayKey commented, “We are excited to win the Agora Fund Run competition. The only way to get users’ trust and engagement is to provide the best user experience coupled with the strongest security. PayKey’s solution enables banks to support peer to peer transactions just when they are needed most – when their users are engaged in social interactions.”