Pat Phelan, the co-founder and chief executive of award-winning start-up Trustev, was presented with the award in the city yesterday.
Trustev, with its global headquarters in Cork and with North American headquarters in New York, is a major player in anti-fraud data fingerprinting which prevents online retail fraud and allows genuine customers to buy safely online.It is the only anti-fraud platform with so-called Smart Blacklisting technology which pattern-matches hundreds of datapoints to lower e-commerce fraud to near-zero levels. Mr Phelan said he was delighted to accept the award on behalf of his co-founder, Chris Kennedy and the Trustev team.
“We set ourselves a significant challenge with our business and are delivering to a very receptive audience across the globe,” he said.“We are the first to use Smart Blacklisting technology. This is a global first and has the potential to create a multi-billion dollar company for us.“Having moved to Brooklyn earlier this year, I saw the need to go where the business was and while our global headquarters is in Cork and will always be in Cork, we see the great opportunity to take our business and products global. Cork will always be home to me and my family and a place that is very dear to me.”Last year’s winners, VoxPro duo Dan and Linda Kiely, presented the award and said Trustev’s international success demonstrates the opportunities that exist for Irish entrepreneurs on the world stage.“Pat’s success is testament to what Irish entrepreneurs can achieve through team work, determination and a burning passion to succeed in the global business arena,” Mr Kiely said.
Declan O’Hara, general manager of MSL Cork Mercedes Benz, described Mr Phelan’s story as “consistent with the Irish approach of always trying our best to achieve what we really know we can achieve”.“When a person of the calibre of Pat Phelan creates a company like Trustev with his entrepreneurial plans for further employment growth, it is a fantastic, good news story for Cork.”The Minister for European Affairs and Data Protection, Dara Murphy, was guest speaker. Lord Mayor Mary Shields and County Mayor Alan Coleman were also present.