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.
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