About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Entrust in Talks to Acquire AI-Powered Identity Verification Specialist Onfido

Subscribe to our newsletter

Entrust, a provider of trusted identities, payments, and data security, is in exclusive discussions to acquire London-based Onfido, a provider of cloud-based, AI-powered identity verification (IDV) technology. If the acquisition completes, Entrust would add a compliant AI/ML-based biometric and document IDV tech stack to its portfolio of identity solutions. It would also have an opportunity to advance the use of biometric-based, highly phishing-resistant authentication in high-value transactions and signing events.

“With the emergence of AI-based attacks, the identity verification game has changed,” says Todd Wilkinson, president and CEO at Entrust. “Deepfakes and synthetic identity are driving a global need for a powerful level of identity assurance that facilitates digital journeys. Authentication using biometric-based, AI-driven identity verification will be critical to ensuring security, privacy, and trust in high-value digital-first interactions. Onfido IDV solutions have proven their value in Europe’s high-compliance environment.”

Founded in 2012, Onfido makes it relatively easy for people to access services through digital verification. The company has more than 500 employees and over 1,200 customers globally including leading financial institutions.

Any agreement on the acquisition remains subject to regulatory approval and other steps required in accordance with applicable laws.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Overcoming the Barriers to Implementing RegTech Solutions: The View from Either Side of the Fence

RegTech holds the promise of targeted, agile and often low-cost solutions to the real-world problems faced by financial institutions across the board. So why is it so difficult to get RegTech projects off the ground? RegTech solutions providers complain that it’s difficult to get access to decision-makers, and even when they do it’s tough to...

BLOG

Reframing Corporate KYC: Encompass Targets Back-Book Exposure with Scalable EC Review

For many SME focussed banks, KYC investments have streamlined the onboarding journey but legacy KYC records – the back-book – often remain dormant until a regulatory inspection, or an enforcement case at a peer institution, forces a wholesale review. The challenge that follows is how to remediate at scale, with urgency, and without the need...

EVENT

TEST Event page 2

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...