GuardTime Wins $50,000 Innotribe Start-Up Challenge for Most Promising Fintech Start-Up

TORONTO--(Marketwire - Sep 29, 2011) - GuardTime (www.guardtime.com), creator of the Keyless Signature technology providing indisputable proof of time, origin, and integrity for electronic data, is honored to announce it was selected a winner in the Innotribe $100K Start-Up Challenge, honoring the company as one of the most promising financial technology start-ups in 2011. Selected from over 100 applicants, this year's judges awarded the prize to two winners, each receiving $50,000. The other winning company announced is Truaxis (formerly BillShrink), for its StatementRewards application that creates transaction-based services for financial institutions, merchants and consumers.

The 2011 Innotribe $100K Start-up Challenge was designed to introduce the most promising FinTech and Financial Services start-ups to SWIFT's community of more than 9,700 banking organizations, securities institutions and corporate customers in 209 countries. The award was presented in front of an audience of roughly 8000 financial industry professionals during the Innotribe@Sibos conference in Toronto on 22 September.

"We're thrilled to be recognized by the financial services industry for innovation that creates indisputable and mathematically-sound audit trails for all electronic data, making it ideal for applications such as Internet banking, mobile payments, digital log forensics and eDiscovery," said Mike Gault, CEO, GuardTime. "This award further validates why our customers partnered with us, and the benefits they've realized from using GuardTime."

Kosta Peric, Head of Innovation at SWIFT, said: "The Start-Up Challenge is a vital component of Innotribe's work to nurture new solutions to common financial industry challenges, and Innotribe@Sibos is the ideal environment in which to foster collaborative engagement with the most exciting new propositions coming out of the start-up community. This year's winners, including GuardTime, represent innovation at its best."

GuardTime customer/partners include:

• ARKIBIZ, a leader in cloud-based e-documents and records management solutions;
• Authentify, a leader in telephone-based, multi-factor authentication services;
• Brother Industries of Japan;
• Cernam, a cloud-based eDiscovery service provider;
• Ftopia, an online collaboration and storage service;
• Rakuten Bank, Japan's largest online bank;
• SEB Estonia Bank, one of the most wired banks in the world;
• Joyent, a web-hosting provider and cloud application developer, whose customers include Twitter and LinkedIn.

More information can be found at:
http://innotribestartup.myreviewroom.com/pages/details/

About GuardTime
GuardTime was founded with the goal of solving one of the biggest problems in computing: trust. GuardTime's Keyless Signatures provide proof of data integrity, signing authority, and time. The verification of the signature can be done offline without reliance on keys, secrets, or the existence of a trusted third party. GuardTime's mission is to change the world to one where Keyless Signatures are ubiquitous and a natural part of the everyday data lifecycle, whether on disk, in transit, or in the cloud. Visit http://www.guardtime.com for more information about using Keyless Signatures for signing your data.

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