In this Member Spotlight we hear from LastingAsset on its background as a successful spinout from Edinburgh Napier, and being included in the inaugural Scottish Enterprise US Market Booster programme.
Who is LastingAsset and what do you do?
LastingAsset is on a mission to eliminate imposter fraud. Bringing trust back to voice and video calls for both individuals and businesses.
Scammers routinely impersonate banks, e-commerce firms, and trusted organisations via phone or text to deceive and defraud victims. Emerging threats include sophisticated voice cloning and deep fake technologies used against organisations’ employees. Our innovative solutions enable organisations and their staff to securely authenticate themselves to customers, colleagues, and vendors, effectively preventing impersonation attacks.
We are building a suite of products and services which allow easy and frictionless authentication between individuals or groups whether on a voice or video call. Aimed at both individuals and businesses so together we can start to reduce the high volume of scams still happening through social engineering today.
Tell us something unique or interesting about your organisation.
LastingAsset is a spin-out from Edinburgh Napier University, a university which already has a strong track record of successful cyber security spinouts. Bill Buchanan, a world renown expert on cryptography, is part of the Lasting Asset team.
Leveraging advanced cryptographic techniques, including public-key cryptography and homomorphic encryption, our technology prevents phone number spoofing and voice-based impersonation fraud without requiring organisations to overhaul existing security infrastructures, ensuring trust and safety throughout their communications ecosystem.
What is your biggest achievement as an organisation?
Being selected to participate in the inaugural Scottish Enterprise US Market Booster programme alongside only 4 other Scottish companies was a massive achievement for such an early stage start-up. It saw our CEO, Nanik Ramchandani, spend a number of months in the US being strong relationships and networks with other start-ups, investors and potential customers.
Lasting Asset Limited were also successful in securing a very competitive Innovate UK smart grant of £348k and was awarded a the future tech award from CISCO at Converge (in 2023).
What prompted you to become a member of ScotlandIS?
We are aware of all the great support that ScotlandIS gives to the tech community in Scotland and we don’t want to miss out! We have already benefitted from Cyber Essentials funding through ScotlandIS. We look forward to engaging with ScotlandIS members and to ensuring we make the most of our membership.
We also recognise that ScotlandIS gives the tech community a strong voice in Scotland which is much appreciated during times of uncertainty and instability.
What do you see as the main challenges for the tech industry in the UK and Scotland?
As always it is securing funding for those Scottish companies who are driving innovation and building new products.
Ensuring the tech sector stays competitive through embracing AI and the benefits that come with it are crucial. The learning curve for any new technology is always a challenge. But businesses must learn, adopt and implement new technologies especially AI tools in order to keep up with their worldwide competitors.
Get in touch if you’d like to find out more at hello@lastingasset.com or visit lastingasset.com.