Amwal Secures $2.5 Million in Pre-Seed Financing for Biometric Settlement Solution

03/02/2023 12:17 • Tech Trends • 88 views

On March 2, Amwal, a financial technology company based on multi-device authentication token, announced the completion of a pre-seed round of financing of US $2.5 million, with Shorooq Partners, Outliers Venture Capital and others participating. Amwal hopes to integrate the functions of device identification, fraud prevention and payment token into the independent application program interface (API) to provide an encrypted biometric settlement solution using multi-device authentication token.

Amwal, a financial technology company, completed the pre-seed round financing of US $2.5 million

Analysis based on this information:

Amwal, a financial technology company, has just completed a pre-seed round of financing of US $2.5 million with various investors, including Shorooq Partners and Outliers Venture Capital. The latest funding round will enable Amwal to further its goal of integrating device identification, fraud prevention, and payment token functions into their independent application program interface (API). This API aims to provide a multi-device authentication token-powered, encrypted biometric settlement solution.

Amwal’s latest development emphasizes the company’s mission to make online transactions more secure and efficient. Financial technology continues to progress, as digital processes are becoming increasingly prevalent in our daily lives. However, it remains subject to cyber threats and security breaches, which can lead to massive financial loss and inconvenience to customers. Therefore, Amwal’s solution brings a significant contribution to the financial technology industry in addressing this concern.

The biometric settlement solution is an encryption-based solution that ensures multi-device authentication using a token to protect every transaction. The API is likely to utilize biometric technology for authentication, such as fingerprint, facial or voice recognition, to prevent fraud and verify identity. This technology is also standard on mobile devices and is highly efficient for dealing with online transactions. Amwal’s biometric settlement solution offers a unique and strong proposition for secure financial transactions in the industry.

Integration of device identification, fraud prevention and payment token management into the API offers a single-point solution for users, thus enhancing user partner interaction. Amwal’s solution offers flexibility and convenience due to biometric identification, higher security through multi-device authentication, and token-based payments for safer transactions.

In conclusion, Amwal’s secure biometric settlement solution comes with a clear promise of enhancing user experience, convenience, and security. The pre-seed round of financing indicates an immense acceptance of the company’s vision and potential, which could see it becoming a major player in the financial technology industry.

In conclusion, the biometric settlement solution offers a comprehensive solution to the challenges of cybersecurity in the financial technology industry. With multi-device authentication, token-based payments, and biometric identification, customers will enjoy a secure and flexible experience in managing their transactions.

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Amwal Secures $2.5 Million in Pre-Seed Financing for Biometric Settlement Solution

Amwal, a financial technology company, completed the pre-seed round financing of US $2.5 million

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