Press Release updated: Sep 28, 2017 05:00 CDT

Carneros Bay, a FinTech-focused innovation studio based in San Francisco, and KeepTrax, Inc., a leading Location-as-a-Service technology provider based in Dallas, today announced a new strategic partnership to bring location-based contextual innovation to the Financial Services industry.

The collaboration will combine Carneros Bay’s integrated innovation platform and Financial Services expertise with KeepTrax’s patented location tracking technology to deliver solutions that leverage mobile location data and context to address increasingly complex cybersecurity and fraud challenges in the Financial Services industry. 

As part of the partnership, Carneros Bay and KeepTrax will be launching pilot programs with major retailers and financial institutions in Q4 2017 to bring location-visibility and verification that improves customer experience while strengthening transaction security.  Additional pilots are planned for early 2018 including location-aware, multi-factor authentication solutions for the insurance and banking sectors.

We have long believed the KeepTrax location tracking technology could be a game-changer in the Financial Services industry and with Carneros Bay’s domain expertise and record of delivering transformative FinTech solutions we are positioned to address some very real needs in the cybersecurity and broader financial services landscape.

Kedar Benegal, CEO

“Our partnership with KeepTrax unlocks a very relevant and desired solution that brings together consumer engagement, improved fraud prevention and account security features,” said Gary Bender, CEO and Founder of Carneros Bay. “The products and services we are building alongside KeepTrax will drive differentiation in areas of cybersecurity and fraud prevention while also enhancing customer experience and confidence in their financial institution or technology provider. It will help solve numerous fundamental challenges that our financial services customers and strategic partners are increasingly challenged with today.”

“We are thrilled to join forces with Carneros Bay,” said Kedar Benegal, CEO and Founder of KeepTrax.  “We have long believed the KeepTrax location tracking technology could be a game-changer in the Financial Services industry and with Carneros Bay’s domain expertise and record of delivering transformative FinTech solutions we are positioned to address some very real needs in the cybersecurity and broader financial services landscape.”

About Carneros Bay 
Carneros Bay is a FinTech innovation studio that develops and drives adoption of innovative technologies in partnership and in collaboration with our partner banks and other financial services companies. Collectively, the Carneros Bay team has more than 450 years of FinTech experience, has founded over 15 startups, are named on over 1,500 patents, have successfully exited over 10 companies, and have been leaders at the largest names in the industry such as: Visa, JPMorgan Chase, Wells Fargo, PayPal, Ripple Labs, First Data, Apple, MasterCard, Dwolla, First Data, Fidelity, and more. Learn more at www.carnerosbay.com. 

About KeepTrax 
Headquartered in Dallas, KeepTrax has developed an innovative Location-as-a-Service platform that leverages GPS and other mobile device sensors to convert physical location visits into context-rich digital pins. The technology is being applied today to a range of use cases, from travel journaling and user geo-profile generation to field sales optimization and location-based insight development. To learn more about KeepTrax please visit www.keeptraxinc.com. 

Contact Information 
David Novak
Executive Vice President, Corporate Development
Email: [email protected]

Daniel J. Jones
Head of Innovation & Partnerships
Email: [email protected]

Source: KeepTrax

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