Key Takeaways
- Flywallet merges payment, mobility and health-care services into a single ecosystem leveraging biometrics and wearable IoT technologies for security.
- They have engineered Keyble, a biometric module to be incorporated into fashion accessories, enabling services like payments, access control, transportation, loyalty programs and even digital identity verification.
- The startup has a unique “Biometric Wearable Platform as Service” which caters to financial institutions, banks, insurance companies and other firms. They can create novel services through a secure API connection.
- By 2022, the firm aims to have official certification for medical devices to analyze cardiac arrhythmias, blood oxygen saturation, and body temperature.
Biometrics, widely regarded as the pinnacle of secure identification, is a rapidly evolving landscape that includes fingerprints, facial recognition, and iris scanning. An innovative EU start-up, Flywallet, is at the forefront of this digital revolution. Founded in 2018 by Lorenzo Frollini, Flywallet seeks to harness the power of biometrics and synthesise it with fintech, cyber-security, healthcare, and more. Their primary offering, Keyble, is a wearable module that uses biometric identification to unlock multiple services within a secure digital ecosystem.
Unlike some of its single-use competitors in the wearables market, Keyble does more than one thing and does it well. Whether it be making payments in stores, accessing online services, or even unlocking cars, Keyble can adapt to a wide array of applications. And the kicker? Eco-sustainable materials drive every module Keyble designs, with a strong sway towards Italian fashion.
What truly sets Flywallet apart, though, is its application of biometric identification. By using not only fingerprint identification but also ECG heart rate monitoring, Flywallet is able to provide an industry-leading level of security. Moreover, this technology also has significant health applications. Looking forward, Flywallet intends to acquire certification in Q1 2022 to use Keyble for medical analysis, including evaluation of cardiac arrhythmias, blood oxygen saturation, and body temperature.
Another feature that differentiates Flywallet from other similar services is its philosophy of being a “Biometric Wearable Platform as Service”. By offering its platform to the likes of banks, insurance companies and firms, it opens up design space for creating services targeted towards specific business needs.
In conclusion, Flywallet’s innovative marriage of biometric technology and multipurpose design looks like a promising entrant to the fintech and wearables market. If all goes as planned, healthcare benefit should add another strong point to its portfolio, marking them as a pioneer in the industry. With security being paramount to digital ecosystems, the future looks bright for Flywallet and the industries they cater to.
If you want to stay updated on Flywallet’s journey or require further information, feel free to visit their website or follow them on their social platforms: Twitter, Facebook, and LinkedIn
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