Who Are We?
Stonebridge Solutions is a small, focused company located in Vancouver BC. We create next generation technologies to safeguard identity while innovating payment under the brand name XUMI.
What Problem Are We Solving?
5 years ago we saw that the migration to digital and the adoption of new technologies was exposing security and privacy gaps that the legacy payment solutions and infrastructure weren’t designed for.
We believed that at some point the global migration to digital would reach a tipping point where the risk to an individual’s security and privacy while transacting digitally would be exploited for fraudulent purposes.
The pandemic has created that tipping point.
A simple way to describe just one of the problems we solve is that consumers and merchants are fundamentally juxtaposed when it comes to security, privacy, fraud and reducing risk. For consumers there has been a dramatic shift to digital and it is accelerating data breaches, credential stuﬃng and account take over fraud driving the need to secure and protect the identity of the individual as they transact; while merchants have had to rapidly change primary delivery channels from retail to on-line increasing the risk of fraud and escalating the need to identify their customers (KYC).
In a nutshell, there are two parties in a payment transaction and both require something the other can’t provide without risk. XUMI is the breakthrough technology designed to eliminate the risks so they can transact when and how they need.
How Are We Solving It?
We are focused on establishing new mechanisms for payment, identification, card-holder verification, privacy and security to enable legitimacy, and facilitate a trusted, seamless on- boarding and payment experience while connecting back to the legacy payment systems and credential issuers.
We are also advancing further and breaking our technology down into functional components and enabling a suite of SDK’s and API’s with a platform to support them so that we can enable interoperation in the industry and affect the change we set out to make.
We are also extremely conscious of security and have invested a great deal in our own security practices and have embedded it into our design and development processes. We are OWASP II (assessed by Forward Security) and beyond the scope of PCI (assessed by Control Gap).
XUMI’s Secret Sauce
XUMI has some game changing technology. We look at things differently and are not encumbered by the way things have always been. If it’s needed to solve the problem either from a security, interoperability or user experience perspective – we innovate.
Much of the XUMI magic is embedded in the tech required to support a non-repudiated transaction, a seamless user verification and credential on-boarding experience, and security.
Some of our innovations are: mobile threat and attack vector mitigation for mobile wallets, new datasets for payment to prove non-repudiation, device, credential and payment analytics as a service, digital ID and wallet registration service to facilitate interoperability, a unique network independent protocol to prove legitimacy and enable a fast mobile to mobile transactions, and our favourite, a slick way to onboard, verify a credential and authorize a transaction in one very cool piece of tech.
Our vision is to facilitate secure payment and the use of digital identification to reduce cost, risk and complexity while at the same time elevating trust and the purchase experience to the next level.
How Do People Get Involved?
When we set out 4 1/2 years ago we believed that the road to global digital transformation was long, and then suddenly it wasn’t. Our technology is bigger than we are, and it has the ability to change the game, switch things up, have impact.
We are looking to collaborate with trust frameworks, governments, card associations, issuers, payment service providers, technology providers, consumers, merchants and asp’s.
Contact us at [email protected] or reach out on LinkedIn if you want to explore how we can work together to make payment simpler and safer.