“The app can also be used to securely share documents, and users can even set time limits on how long the documents will be shared.”
Covault, a Silicon Valley startup, is offering a new mobile-based ‘digital safety deposit box’ that can only be accessed with biometric authentication.
Covault was incubated in Spanish banking group BBVA’s New Digital Business accelerator, and is aiming to provide both consumers and enterprise organizations with a secure data storage system. End users’ biometric data is encrypted, and is the sole means of access for stored data, via the Covault mobile app. The app can also be used to securely share documents, and users can even set time limits on how long the documents will be shared.
In a statement announcing the new solution, Covault emphasized that while the device will offer obvious benefits to security conscious consumers, it will also offer business “bank level Know Your Customer service, enabling them to verify customer identities while offering a cost effective, more secure and seamless on-boarding experience.”
Other features of the app include document verification, and compatibility with Notarycam.com notarization services. Covault hasn’t set a launch date, but says the app is “coming soon,” with interested users welcome to submit their emails on a launch list through the company’s website.