IDnow appoints new CEO and CFO to bring cloud identity verification services to new markets
Identity Verification-as-a-Service provider IDnow has appointed Andreas Bodczek as CEO and Joseph Lichtenberger as CFO, with all founders returning to the business’ operations in order to push ahead with the company’s planned expansion into new industries and European markets to reach a goal of €100 million in turnover in the next few years.
The new executives have joined the management team, and will focus initially on expanding IDnow’s base from the German financial industry to other sectors, and establishing the company in France and the UK, according to the company announcement.
IDnow has more than 250 customers, including N26, Commerzbank, and UBS. The company says the German Money Laundering Act-complaint video chat ID service IDnow VideoIdent and the ID document verification service AutoIdent give it the widest range of compliant identification procedures on the market. The company reached sales in the double-digit millions for the first time in 2018.
Bodczek is former Chairman and CEO of Telefónica Deutschland GmbH, and founder of Scalar Ventures and mobile advertising technology provider Fyber. As CFO of Scout24, Lichtenberger managed the company’s multi-billion-euro sale to U.S. private equity investors Hellman & Friedman and Blackstone.
“Secure online identification is interesting for a broad market: all digital business models that include a value transaction worth protecting need secure digital identities for customers. Since the company’s inception, IDnow has impressively demonstrated how much this can boost digital transformation in the financial industry,” comments CEO Andreas Bodczek. “I see great potential for the same development in other sectors such as insurance and mobility. Our goal at IDnow is to carry our established technology into these areas and thus pave the way for disruptive innovation.”
Founders Felix Haas, Armin Bauer, Sebastian Bärhold and Dennis von Ferenczy will take new active roles with the company.
“We have great ambitions to build a new tech leader out of Munich,” says Co-founder and Executive Chairman Felix Haas. “The combination of new leadership and fresh ideas will provide the impetus for a real growth spurt, enabling us to establish a leading international position across new industries.”
IDnow recently formed a product development and distribution partnership with DERMALOG.