IDnow reports growing UK digital identity adoption, first local channel partner
Germany-based IDnow has entered a new partnership with UK anti-fraud firm Sphonic, strengthening the company’s position in a market where it is reporting rapid adoption of its digital identity verification technology.
The Sphonic collaboration is IDnow’s first UK channel partnership, according to the announcement, and enables the creation of a single digital identity orchestration ecosystem supporting connections to several other third parties for identity proofing and affirmation.
“By partnering with IDnow, we are able to offer an ever-more integrated solution that brings all identity profiles into one place for more intelligent identity scoring,” explains Sphonic Founder Andy Lee.
“And when combined with its enviable relationships with European regulators, IDnow was the ideal choice as we continue to deliver great customer experiences to the highest standards of regulatory compliance.”
From a technical standpoint, IDnow specializes in video identification of customers via face biometrics and electronic signatures.
Sphonic, on the other hand, is a pioneer in know your customer (KYC) and know your business (KYB) orchestration technology, including real-time fraud monitoring, anti-money laundering (AML), and affordability data features.
“Anti-impersonation and identity fraud is on a worrying upward trend, making it more important than ever for businesses to ensure they are compliant beyond simply box ticking,” comments James Hudson-Dale, partnerships manager at IDnow.
“Our leading identity verification technology will provide Sphonic customers with the option of imposing additional verification methods to ensure the threshold is high quality and the person is who they say they are.”
IDnow reports UK adoption surge
IDnow is also reporting that use of its cloud-based digital identity verification platform grew eightfold in the UK over the past year.
“Since we launched into the UK in 2019, we’ve seen consistent growth, as businesses look to deploy the most secure digital onboarding processes possible,” explains IDnow’s Director for the UK and Ireland Roger Tyrzyk.
According to the executive, IDnow’s growth in the UK fits into a broader upward trend for the company, which in 2021 completed the acquisitions of both Ariadnext and IdentityTM.
“As digital identity experts, our expansion will come at a critical time, as the UK Government moves forward with its Digital Identity and Attributes Trust Framework, a national approach for digital identity solutions which will enable people to prove who they are quickly and safely,” Tyrzyk concludes.
AML | biometrics | digital identity | Digital Identity and Attributes Trust Framework (DIATF) | electronic-signature | face biometrics | financial results | fraud prevention | identity verification | IDnow | KYC | onboarding | secure transactions | VAR