Fintech, or financial technology, is rapidly gaining ground with consumers as a more accessible alternative to traditional payment and banking systems offered by financial firms. As new fintech tools and software emerge to disrupt the established model, financial services are improving, offering enhanced efficiency, speed and accountability.
According to an EY study last year, fintech is growing in popularity, with roughly 15.5% of digitally active consumers using financial tech products — a figure that was likely to double within 12 months. The United States had the second-highest adoption rate of fintech tools (16.5%), following Hong Kong with 29.1%.
Detroit’s nascent tech community got a significant validation today as Silicon Valley cybersecurity company Distil Networks announced it has acquired homegrown, Dan Gilbert-backed startup Are You a Human. The specific terms and the monetary value of the deal were not disclosed, but Distil says it plans to open a new office in Detroit as a result.
As part of the announcement, Distil is today releasing a free Google Analytics tool called Distil Bot Discovery, which finds and filters a website’s bot traffic. The tool incorporates Are You a Human’s “real-time human detection technology and biometric interaction dataset,” according to Distil CEO and co-founder Rami Essaid.
SAN FRANCISCO, CA – May 18, 2017 – Distil Networks, the global leader in bot detection and mitigation, today announced the acquisition of Are You A Human, experts in analyzing and understanding how real humans interact with the internet. Are You A Human’s real time human detection technology and biometric interaction dataset will be integrated into the Distil Bot Defense Platform, adding biometric and longitudinal data from millions of new sites and users. In addition, Distil has released a new free product called Distil Bot Discovery for Google Analytics, which leverages Are You A Human technology. More details on the free Google Analytics plugin, which was also announced today, can be found here.
“When we founded Distil, we sought to establish the most comprehensive solution on the market to detect and mitigate threats associated with bots, and we continue to do just that,” said Rami Essaid, CEO and co-founder of Distil Networks. “Through this acquisition of Are You A Human, we are bringing on a team of experienced software engineers and data scientists who have dedicated the past seven years to understanding the bot problem plaguing online businesses. Combine this with our purchase of ScrapeSentry in 2016, and Distil has become a braintrust of individuals with the most advanced knowledge on bots, giving us the ability to combat them more effectively than any other company in the market today.”