IDnow, expert in digital identification solutions, announces the next step in its expansion following the recently completed $40 million financing round.
Munich, November 21, 2019, IDnow, the supplier of identity verification as a service solutions with more than 250 customers such as N26, Commerzbank, and UBS, is opening a subsidiary in London and expanding its distribution, service, and marketing team for Great Britain.
After announcing the successful $40 million financing round last month, IDnow is now expanding its market presence in Great Britain. With the opening of a department in London, the FinTech is establishing a strategic location for the Anglo-Saxon region. The new IDnow office is located in London’s business and finance quarter, Canary Wharf.
“The demand for our solutions from the Anglo-Saxon region has already been very strong for several months”, says Andreas Bodczek, CEO of IDnow. “As the world’s leading financial center, London is an important strategic location for us, even in a possible Brexit scenario”, he adds.
Roger Tyrzyk, Head of Sales UK/I at IDnow and long-time industry expert, will drive the local brand entry and lead the sales, service, and marketing team at the new London location.
“For the companies here, our experience with the strict regulations of BaFin* and the AI technology developed in Germany is a great advantage. For us, setting up a team on site is the logical step to offer these customers the best possible service”, says Roger Tyrzyk.
IDnow’s customers already operating in the UK welcome this expansion step, as they benefit directly from the new location.
(*Bundesanstalt für Finanzdienstleistungsaufsicht, Federal Financial Supervisory Authority)
With its Identity Verification-as-a-Service (IVaaS) platform, IDnow has set out to make the connected world a safer place. IDnow’s unmanipulable identity verification is used across industries conducting online customer interactions that require a high degree of security. IDnow uses artificial intelligence to check all security features on ID documents and can therefore reliably identify forged documents. Potentially, the identities of more than 7 billion customers from 193 different countries can be verified. In addition to safety, the focus is also on an uncomplicated application for the customer.
IDnow covers a wide range of use cases both in regulated sectors in Europe and for completely new digital business models worldwide. The platform allows the identity flow to be adapted to different regional, legal and business requirements on a per use case basis. IDnow is supported by venture capital investors Corsair Capital, BayBG, Seventure Partner, G+D Ventures and Jet A as well as a consortium of renowned business angels. Its portfolio of over 250 customers includes leading international companies from various industries such as Bank of Scotland, BNP Paribas, Commerzbank, eventim, Raisin (Weltsparen), Sixt, solarisBank, Telefonica Deutschland, UBS, Western Union and wirecard as well as fintechs such as Fidor, N26, smava, and wefox.
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