Hi, tell us a bit about Flywallet.
Flywallet is a digital platform that connects contactless payment services, personal health monitoring, insurers, transport ticketing, and access control services in a single ecosystem. There are two parts to this, the Flywallet digital environment that supports everything and the Keyble biometric wearable that connects users to the environment. Keyble has been awarded the world-renowned Good Design Award by The Chicago Athenaeum Museum of Architecture and Design.
Who is the Flywallet platform designed for?
As a platform, we’re targeting both businesses and consumers. Today, good business is about digital proximately to users and gathering and mining data quickly. Because the more you know and engage with users, the easier it is to meet their needs and generate business based on this data.
As an initial approach, our primary focus will be on banks, especially those with integrated insurance companies, as we believe there is a lot of opportunity for them to support their customers through our services. Payments is something consumers do daily, so enabling secure biometric wearable payments is a great starting point.
If we consider insurers, they could tailor a customer’s policy based on tracked medical grade (under certification process) health data enabling them to make better-informed decisions based on a person’s health and habits. This includes things such as heart rate, blood oxygen saturation, blood pressure trend, respiratory rate and temperature and some clinical analysis such as cardiac arrhythmias detection, sleep monitoring and fitness tracking. To do this you need a wearable that tracks this type of data, something that exists today, but that’s the limit. We offer a full range of services. With our Keyble wearable, users get a personal wellness tracker, can make secure biometric contactless payments, ride public transport, and much much more.
Tell us a bit more about Keyble.
The name is the merging of the words “Key”, “wearable” and the verb “be able”, resulting in Keyble as your wearable identity-key to securely enable phygital services in everyday life. Keyble is the key to the Flywallet platform, but it’s also the key to your car, house, or office. As long as a digital service can be connected to our platform or one of our partners’ platforms, the Keyble will seamlessly support it. We’re talking about payment cards, car keys, digital locks and pass controls, monthly travel cards, you name it.
Keyble is also extremely secure. The user must tap the fingerprint biometric sensor to activate the wearable at a digital touchpoint. If it doesn’t recognize their unique fingerprint, it will remain inactive. In other words, if stolen or lost, it cannot be used. In addition, Keyble offers also the biometric continuous authentication, thanks to the verification of the heartprint based on the ECG and liveness wearing detection: the user can wear and activate hands-free payments in a seamless and smoother way just with a simple action – like a shake of the wrist – without even touching the fingerprint sensor. If the wearable is unfastened from the wrist however, the fingerprint authentication will be required again.
That’s security on the wearable; what about the platform?
We take security very seriously – it’s central to our solution. For contactless payments, for instance, a unique digital token is issued once a card is connected to the wearable – or actually, it’s connected to the Fidesmo platform – but from a user perspective, it’s the wearable. That token cannot be copied, stolen, or used by any other means for contactless payments, adding an extra layer of security to a credit card. So, in other words, we have high-grade security on the platform and the wearable.
Tell us more about the partnership with Fidesmo.
It’s been a very smooth collaboration. We work in the medical and financial sectors, meaning there are a lot of regulatory requirements. Fidesmo handles regulatory requirements for its partners on the financial side, which makes getting a secure payment solution in place a reasonably fast process. They also have many banks, payment providers, and the major credit card companies on their platform, providing us with instant access to a larger market. Our platforms complement one another, so it was an obvious step for us to collaborate.
Finally, where will Flywallet and Keyble be available?
We’re based in Italy, so this is an obvious market for us, but as a digital platform provider, we can operate anywhere as long as we meet the necessary regulations. We believe there are enormous opportunities for growth and not surprisingly, we’re seeing a lot of interest in our platform. Most recently, we were invited to present our solution at the world’s largest innovation trade shows like Consumer Electronics Show in Las Vegas, MWC Barcelona, Money 2020 in Amsterdam, Mastercard Innovation Forum in Milan and Viva Technology in Paris. We are opening pre-orders on our website for a selected group of users before full mass commercial deployment: if you want to become an early adopter and be among the first to enjoy Keyble biometric experience, visit us at www.flywallet.it