Entrust, a global pioneer in trusted payments, identities, and data protection, is in exclusive discussions to acquire Onfido, a leading provider of cloud-based, AI-powered identity verification (IDV) technology.
The acquisition aims to integrate Onfido’s best-in-class IDV team, capabilities, and tech stack into Entrust’s offerings. This move comes in response to the rising global need for robust identity assurance amid increasing AI-based attacks, such as deepfakes and synthetic identities.
Entrust is renowned for its comprehensive solutions in trusted payments, identities, and data security, serving customers in over 150 countries through a vast network of global partners.
Onfido, established in 2012, simplifies digital identity verification, enabling easy access to services with its Real Identity Platform. The platform boasts over 1,200 customers globally, ranging from leading financial institutions to e-commerce, gambling and gaming companies, and sharing economy platforms. Onfido has processed more than 200 million identity checks, supporting document types and passports from 195 countries, showcasing its extensive reach and impact on digital identity verification.
Entrust CEO Todd Wilkinson said, “We chose to enter into discussions to acquire Onfido because we believe they have the best-in-class IDV team, capabilities and tech stack in the world. With the emergence of AI-based attacks, the identity verification game has changed.
“Deepfakes and synthetic identity are driving a global need for a powerful level of identity assurance that facilitates crucial digital journeys in banking, finance, government, travel, and more. Step-up authentication using biometric-based, AI-driven identity verification will be critical to ensuring security, privacy, and trust in these high-value digital-first interactions.
“Onfido IDV solutions have proven their value in Europe’s high-compliance environment. With the proposed acquisition of Onfido, Entrust would have the opportunity to provide unmatched identity security solutions at a time when they are needed most among enterprises and institutions.”
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