Haventec Pty Ltd
| Haventec Logo | |
| Haventec | |
| ISIN | 🆔 |
| Industry | Encryption and Network Security |
| Founded 📆 | 2016 |
| Founder 👔 | |
| Headquarters 🏙️ | , , |
Area served 🗺️ | |
| Products 📟 | Authentication and Personal Data security software |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Haventec is an Australian technology company with a password-less cyber security system. The company commercialises online security products created by Australian inventor Ric Richardson, who first came to prominence as one of the largest shareholders in Singapore-based Uniloc, which won a major patent infringement settlement against Microsoft in 2012. The final settlement was never disclosed but believed to be in the order of $US300 million ($A394 million).
Macquarie Group is one of Haventec's major investors, but it has also been using its system and the company is also working with Richardson[1] in an effort to protect its banking services.
Richardson has also adapted the concept behind the password-less system for a one-click credit card payment system,[2] and as a result, Haventec holds patents for both systems.
In addition to Macquarie Group, Haventec has also entered an agreement with US-based commercial real estate management technology provider, AMP Technologies, and Singapore-headquartered payment distribution hub provider, Alpha Payment Cloud. Macquarie Group is one of Alpha's first clients in Australia and the Singapore company has the backing of Wells Fargo.
History[edit]
Mr Richardson co-founded Haventec with venture capitalist Dr Tony Castagna, who is also co-founder and Chairman of information forensics company Nuix. Haventec's advisory board included former Hills chief Ted Pretty, former local chief executive of giant tech show CeBIT Jackie Taranto, and two Macquarie Capital executives, Daniel Phillips and David Standen. Mr Morrish, who was until recently head of Macquarie's digital architecture and strategy division.
Richardson initially tested the technology with the help of UNSW alum and entrepreneur Naveen Neti
Mr Richardson's password-less authentication and one-click payment systems both rely on a concept of[1] reducing the opportunity for hackers to infiltrate an enterprise system.
Neither rely on the storage of credit card or password details, with no details stored on a server that can be hacked. Key details are encrypted on a user's device, and in the case of the payment system, the key to unlock the encryption is on the merchant's server with the user's account information.
It means a hacker would have to breach numerous systems, rather than finding one central weakness in order to successfully get in, and would potentially eradicate the risk of mass breaches of customer log-on and payment details.
The system has its critics who fear it will lead to an increased targeting of individual devices.
However, the company maintains that hackers would be deterred by the extreme effort required to break the system, which could include gaining physical access to an individual device.
References[edit]
- ↑ 1.0 1.1 "Aussie security start-up Haventec ponders IPO after big wins". Financial Review. 2016-10-10. Retrieved 2017-02-11.
- ↑ Colley, Andrew (2016-09-22). "New one-click payment system could change internet transactions". The Sydney Morning Herald. Retrieved 2017-02-11.
External links[edit]
This article "Haventec" is from Wikipedia. The list of its authors can be seen in its historical. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
