WorldReach acquired by Entrust as digital identity industry consolidates
U.S.-based digital security company Entrust has bought Canadian digital identity verification provider WorldReach Software in an acquisition which also sees the retention of staff and CEO Gordon Wilson, who continues to lead WorldReach.
WorldReach has spent 13 years improving the safety, security and facilitation of international travelers and delivery of citizen services. Earlier this month, the company gained eighth position on the Ottawa Business Journal’s (OBJ) list of fastest growing companies for 2021. Last year, WorldReach worked with the UK Home Office to create a smartphone-based remote digital ID verification (IDV) and biometric enrolment capability of which 4.06 million applications had been received as of late last year.
“The ability to verify identity and manage trusted access digitally is the key to transforming travel and citizen services around (the) world. WorldReach is a great fit for Entrust, with deep experience in identity verification and digital onboarding solutions implemented at scale for governments and global travel providers. With the WorldReach acquisition, Entrust can help these organizations reshape government and travel service experiences around secure digital identities,” says Todd Wilkinson, CEO of Entrust.
WorldReach has worked to confront infrastructural and expectation demands to develop a biometric and touchless identifier for use throughout a journey. WorldReach’s Know Your Traveller solutions are a part of this ‘walk-through experience’ for travelers, according to the website, and work in a similar way to other digital identity initiatives including IATA’s Travel Pass.
The company provides the IdentityReach solution for real-time biometric document authentication among its suite of software solutions for travel.
“We see tremendous opportunity to leverage digital identity and encryption technology in innovative ways to make the experience of travel, border crossing, immigration and other citizen services more secure, safe and seamless. As part of Entrust, WorldReach customers will benefit from the opportunity to integrate proven Entrust technology and expertise in digital travel credentials, PKI and certificate solutions and identity and access management,” says Gordon Wilson, WorldReach founder and vice president and now global lead for Seamless Travel at Entrust.
On April 26th and 27th, Wilson will speak in the World Travel and Tourism Council Global summit, addressing the crucial need for Safe & Seamless Travel for economic recovery, the company wrote on a Twitter post.
Digital ID industry consolidation continues
Thycotic and Centrify have merged, completing a process announced in March to bring together their privileged access management (PAM) and digital ID technologies to form a leading cloud identity security vendor.
The global PAM market is expected to more than double by 2025. The partnership combines Thycotic’s customer base of more than 12,500 organizations worldwide with Centrify’s client list, which includes more than half of the Fortune 100.
Combined, the companies plan to debut a new brand in the second half of 2021, with what they say will be among the most extensive platforms in the privileged identity security market.
“The accelerated use of cloud services has skyrocketed in recent years, and we believe ThycoticCentrify is uniquely qualified to meet the evolving identity security needs across all industries,” says Art Gilliland, CEO, ThycoticCentrify. “Our combined organization will deliver comprehensive PAM solutions built in the cloud, for the cloud that our customers require to enable their business transformation.”
Mastercard has also announced the acquisition of Ekata for $850 million to enhance its digital identity portfolio with data analysis and risk scoring capabilities for identity verification.
Ekata’s identity verification data, machine learning technology and experience will be integrated with Mastercard’s fraud prevention and digital identity programs to help businesses know who their customers are and protect their safety online, according to the announcement.
“The acceleration of online transactions has thrust global digital identity verification to the forefront as one of the biggest opportunities to build digital trust and combat global fraud,” comments Rob Eleveld, CEO at Ekata, Inc. “The right identity verification solutions enable inclusive and frictionless experiences while, at the same time, ensuring customer privacy, control and security. Becoming part of the Mastercard Identity family ensures a broader, collective approach to meeting the growing demands of the digital economy.”
acquisitions | biometrics | Centrify | digital identity | digital travel credentials | Ekata | Entrust | identity management | Mastercard | Thycotic | WorldReach Software