Prove acquires reusable digital ID verification firm Portabl

A post on Prove’s blog says the acquisition of digital ID startup Portabl “will enable Prove to enhance its industry-leading mobile-based identity solutions with Portabl’s innovative approach to the World Wide Web Consortium (W3C) standards like verifiable credentials.”

Portabl’s reusable digital identity model is based on digital signatures. Per the announcement, “Portabl provides functionality through which users can opt to securely store positive verifications once in a device-independent wallet.”

Nate Soffio, Portabl’s CEO, says its “prime directive, so to speak, is to solve for trust that travels, whether you’re talking about proof of humanity on one end of the spectrum, all the way through to KYC on the other.”

“Joining forces with Prove is acknowledgment that our approach to reusable ID represents the future of verification, authentication, and authorization.”

The integration is expected to help streamline customer onboarding; reduce fraud across high-risk transactions, marketplaces, and regulated services; build durable trust networks; and protect user privacy and consent.

“This acquisition will strengthen our position as the mobile-centric identity verification and authentication leader as we leverage Portabl’s specialization in reusable ID verification to continue building trust and safety online,” Prove CBO Catherine Porter told Biometric Update in an email. “The integration of their solution will expand our suite of verification and authentication tools enabling our clients to enhance their customer’s user experience. Portabl’s cutting-edge methods for reusable digital identity, privacy-enhancing technologies (PET), and standards-first approach will reduce friction online as it removes the consumer’s burden to engage in repetitive verification processes.”

Terms of the acquisition were not disclosed.

Article Topics

acquisitions  |  digital identity  |  electronic-signature  |  Portabl  |  Prove  |  reusable digital ID  |  verifiable credentials