IDnow launches ‘Trust Your Customer’ platform for EU’s regulated businesses

IDnow is introducing a new digital identity platform to help European businesses handle the digital identity wallets, sophisticated AI-driven fraud attacks and incoming regulations that are poised to shake up the market.

The IDnow Trust Platform provides identity verification orchestration, fraud prevention, biometric authentication and qualified digital trust services across the customer life cycle for regulated businesses, according to a company announcement. Four modular services — Identify, Authenticate, Protect and Trust — fit together to deliver continuous, evidence-based trust, the company says.

The orchestration, observation and decision-making capabilities of the platform shift businesses from KYC to “Trust Your Customer,” or “TYC,” IDnow says.

“For years, organizations treated identity verification as a one-time event at the start of a customer relationship. That model is no longer sufficient. We are moving from a world centred on one-time verification to one centred on continuous trust,” says Andreas Bodczek, CEO of IDnow, in the announcement.

Bodczek calls this identity’s “biggest transformation since onboarding went digital.”

EU Digital Identity Wallets are part of an increasing complex digital ID and compliance picture, IDnow argues, rather than a simplification of it. The incoming AMLR harmonized anti-money laundering framework and the weaponization of advances in generative AI to commit fraud create a challenging environment for organizations that will need to accept and integrate multiple wallet standards and digital ID schemes by November, 2027.

Platforms that orchestrate digital identity and biometric authentication processes to make full use of disparate data sources and address complex requirements are a growing trend in that context.

The new Trust Platform organizes the various layers and requirements with a single, orchestrated API.

“The wallet gets you through the door, the IDnow Trust Platform gets you through compliance,” explains Jonas Mendes, director of product at IDnow.

Article Topics

digital identity  |  EU AMLR  |  EU Digital Identity Wallet  |  identity orchestration  |  identity verification  |  IDnow  |  KYC