Deverium lands €2M for interoperable digital ID project

Software company Deverium has secured 2 million euros (US$2.2 million) of European Union funding to develop a universally accepted and interoperable identity verification product that could work across different countries, governments and organizations.

In collaboration with its partner Corner Case Technologies, the company plans to make the digital ID platform reusable and distributed. The eIDAS-compliant product will be designed to close a gap in European cross-border verification which exists due to complex Know Your Customer (KYC) and identification processes, Deverium says in a release.

Digital identity interoperability remains a hot topic in the European Union’s digital ID project as it is believed it could be one of the keys to widespread adoption. Experts have, however, warned that achieving interoperability remains challenging. Another goal for the EU is to give more power to citizens over their data.

“The platform is built to give users enhanced control over their data privacy, using innovative techniques to protect personal information,” says Edvardas Maslauskas, Deverium’s co-founder and head of technology. “This approach aims to simplify the onboarding process and reduce identity verification costs for businesses.”

The Lithuanian company, with addresses in Sweden and the UK, will build upon its experience from working with ID verification and KYC firm GBG.

Corner Case Technologies, on the other hand, is known for developing software solutions and IT consultancy, including for the EU’s Horizon Europe funding program.

Article Topics

Deverium  |  digital ID  |  eIDAS  |  funding  |  identity verification  |  reusable identity