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Onfido targets IPO and IDnow grows QTSP offering with new executive appointments

Fourthline welcomes new legal advisor, CCO
Categories Biometrics News  |  Trade Notes
Onfido targets IPO and IDnow grows QTSP offering with new executive appointments

Onfido has promoted its vice president of strategy Yuelin Li to chief strategy officer to lead its aspirations for a major biometrics IPO. Fourthline has added Fleur de Roos as general counsel and Eelco-Jan Boonstra as chief commercial officer, and IDnow hires Johannes Leser as the vice president of trust services, as each pursues greater digital ID market share.

Onfido elevates Yuelin Li to chief strategy officer

Onfido raises Yuelin Li to chief strategy officer from her former position as vice president of strategy to lead the company’s strategic goals and an expected IPO.

Li has worked with Onfido for five years and played a part in its growth from 100 employees to 650, according to the announcement.

The company is reported to have been preparing to launch its stock in New York rather than London, where it is headquartered, since June of last year. Onfido showed strong financial results from its selfie biometrics and mobile digital ID verification again in the fourth quarter of 2021.

IDnow looks to grow trust services unit with new VP

IDnow brings in Johannes Leser as its vice president of trust services to lead the expansion of the company’s unit of the same name, as well as manage a new German trust service.

Leser has a background in qualified trust services and digital transaction management according to IDnow, and founded trust services provider Namirial Germany. “I am looking forward to building a provider for qualified trust services with IDnow,” says Leser. “Among other challenges, we will solve the issues of how qualified attributes interact with wallets in proving digital identities.”

IDnow plans to build a Qualified Trust Service Provider (QTSP) as part of the appointment. A QTSP allows users to link their national digital ID to other credentials like a driver’s license or bank account. The QTSP can authenticate these attributes, and IDnow seeks to expand the service around digital identities and wallets.

Armin Bauer, chief technology officer and managing director at IDnow, says, “This is an important step in the digital identities space for IDnow. By building our own QTSP, we can not only verify and store digital identities, but also attest additional electronic attributes. Johannes Leser brings the ideal experience to make this initiative a success and I look forward to working with him.”

Fourthline brings in legal advisor and CCO

Netherlands-based digital ID provider Fourthline brings in Fleur de Roos as general counsel and Eelco-Jan Boonstra as chief commercial officer to aid in its next stage of commercial and legal growth, the company says.

De Roos takes a newly created general counsel position as the lead of all legal matters. She is profiled as having 15 years of corporate and commercial legal experience in the financial sector with companies and organizations like Clifford Chance, Flow Traders, and the Dutch Authority for Financial Markets.

Boonstra becomes the new chief commercial officer succeeding Duco van Lanschot. Boonstra joins from Mambu, and other executive roles at Teradata, Datameer, and AppMachine.

“With these two key new hires, we are building the foundation for the next phase of our growth,” comments Krik Gunning, CEO of Fourthline. “We are extremely excited to welcome both Eelco-Jan and Fleur to the team. We are confident that Eelco-Jan’s experience and knowledge will significantly contribute to making the next step in our commercial development. At the same Fleur’s expertise will ensure we continue to invest in strengthening our Legal, Risk, Compliance, and Audit departments.”

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