Bizmora Pay

The problem with the Indian banking industry today is the security risk associated with digital transformation. The prevalent multi-factor authentication is vulnerable; hence banks prefer to provide most of their crucial banking services through their branch banking.
IdentityShack, a product of Bizmora Pay Pvt Ltd intends to solve this problem by creating a biometric-authentication based layer of security that envelops the most critical banking functions.

Incorporation Stage

Total transaction value in the digital payments segment amounts to US$81,197m in 2020.Total transaction value is expected to show an annual growth rate (CAGR 2020-2023) of 18.3% resulting in the total amount of US$134,588m by 2023. The market's largest segment is digital commerce with a total transaction value of US$71,544m in 2020.
The India Biometrics market reached a value of US$ 1.7 Billion in 2018. Looking forward, the market is projected to grow at a CAGR of around 15% during 2019-2024 reaching a value of US$ 3.8 Billion by 2024.

The problem with the Indian banking industry today is the security risk associated with digital transformation. The prevalent multi-factor authentication is vulnerable; hence banks prefer to provide most of their crucial banking services through their branch banking.

IdentityShack, a product of Bizmora Pay Pvt Ltd intends to solve this problem by creating a biometric-authentication based layer of security that envelops the most critical banking functions. IdentityShack is based on the three principles of customer authentication that are, knowledge (Internet bank credentials), possession (mobile device), inherence (biometric).

Fingpay, FSS, Signzy, FRS lab, Smart ID

IdentityShack performs localization of derivative of biometric, hence reducing the risk of biometric data getting compromised. IdentityShack is also banking business focused i.e. rather than focusing on how to improve biometric, we are focusing on how to make proper use of biometric in the most secure way possible considering the vitality of the business process. We are not making biometric the base of authentication, but using biometric as an added layer of security to authentication the accountholder for performing the most critical banking transactions including payments.

2021 2022 2025 2030
Revenue: 0,000 8,484,000 278,160,000 862,800,000
Net Income: -42,229,486 -40,150,500 190,118,000 750,853,000

B2B

Incorporation and MVP product to be able to sell to banks

- 20% Equity share

Biometric signature is irreplaceable
Regulation and compliance
Matching biometric signatures
Customer Acceptance

No

No