Award-winning startup ID-Pal bringing biometric onboarding solution to the U.S.
Irish startup ID-Pal is working with JobsOhio to secure a grant to establish a U.S. base in Columbus, and is in the middle of a funding round, after winning a National Startup Award in the Fintech category, the Irish Examiner reports.
ID-Pal provides an end-to-end customer onboarding technology powered by facial recognition, which is offered to businesses as a white-label solution to meet Know Your Customer (KYC) and anti-money laundering (AML) requirements. Customers use a mobile app to take pictures of identity documents, such as passports and drivers’ licenses, as well as a recent utility bill, and verify their identities by blinking into the smartphone camera. The authenticity of identity documents is determined with machine-learning technology, co-founder Colum Lyons told the Examiner. The entire process takes less than two minutes.
ID-Pal is also built with flexible architecture, enabling businesses to quickly configure and implement it. The company has completed initial pilot projects, and is working with banks in Ireland and the UK.
“We remove the cost, risk, and timelines usually associated with digital transformation projects and, in doing so, make industry-leading technologies accessible to the masses,” said Co-founder James O’Toole.
The National Startup Awards are sponsored by Enterprise Ireland and the Bank of Ireland, and ID-Pal took the Gold award in the McCann FitzGerald-sponsored Fintech category.
A significant number of biometric onboarding solutions have entered the market recently, including one launched by Innovatrics earlier this month.