Platform as a Service provider IDnow has revealed its ambitions to recruit more people in the UK over the next 12 months.
The German identity verification firm already has offices in Manchester and London, and says it has grown eightfold year-over-year in the UK market. It launched here in 2019.
Andreas Bodczek, CEO of IDnow, comments: “We’re seeing a significant rise in demand for our services from the UK market this year. The pandemic pushed many industries into accelerating their digitisation, and as part of that, consumers now expect a much quicker and fully digital onboarding process.”
IDnow’s Director UK&I, Roger Tyrzyk, explains that the tech company “will be looking to further invest in our UK presence, with plans to create more jobs over the next 12 months.”
The Munich-headquartered firm reckons opportunities exist and points to the UK government which is moving forward with its Digital Identity and Attributes Trust Framework, a national approach for digital identity solutions.
IDnow has had a busy year as it acquired two companies – French identity technology provider ARIADNEXT and German IdentityTM.
The firm has expanded its role beyond offering specific identity verification products to become a “platform for digital identities”. IDnow is used by over 900 customers worldwide, including Canopy, MyCDD, Entain and ICICI. Case studies on its website include Solarisbank and Holvi.
In August the firm said it was expanding its automated solution AutoIdent for additional highly regulated use cases, including areas regulated by the Anti Money Laundering Act (AML/GwG), such as banks and financial service providers.
Prior to that, in July IDnow introduced automated AML screening to its platform. This feature enables a combined screening of users against certain global watchlists to make a risk assessment and to avoid violating various sanctions.
The solution is able to screen a person’s identity against PEP (politically exposed person) lists, sanctions lists, global watchlists and adverse media at regular and self-selected time intervals. This allows the IDnow platform to “monitor thousands of AML lists concurrently and in real-time”.
IDnow was founded in 2014. According to LinkedIn, it is supported by venture capital investors Corsair Capital, BayBG, Seventure Partner, G+D Ventures as well as a consortium of business angels.
Based on data from Crunchbase the company has raised a total of $58.2 million (£43.4 million) in funding over seven rounds. The latest funding was raised in December 2020.
