May 17, 2018
Giesecke+Devrient and IDnow Combine their worldwide market presence and Biometric, Artificial Intelligence Technologies to create global solutions for secure digital identification
- Giesecke+Devrient Mobile Security and IDnow sign Cooperation and Partnership Agreement for development and global sales
- Both companies aim at developing and marketing high-performance biometric and AI-based products for digital identification
- Giesecke+Devrient Ventures makes multi-million euro investment in IDnow
G+D Mobile Security and IDnow GmbH entered into a partnership to combine expertise and resources with the aim to develop AI-driven biometric and security technologies. A first result of this cooperation is the development of a fully automatic remote identification solution for international markets.
G+D Ventures, the Corporate Venture unit of Giesecke+Devrient, took a minority stake in IDnow as part of a multi-million Euro investment to enable the acceleration of research and development and international expansion, thereby increasing the financing of the Munich-based growth company to over $ 12 million.
The volume of the global market for the onboarding and management of digital identities is estimated at more than 10 billion Euro. Digital identities are a key factor in creating confidence in the digital economy of the future: market developments such as the regulation in the finance sector, digitization of business and e-government processes as well as ever increasing requirements with regard to data privacy and customer experiences will foster the need for new, global solutions to ensure the simple, secure and reliable management of digital identities.
Giesecke+Devrient, a global leader in security solutions, and IDnow as a provider of leading technology in online services now cooperate to address the global market for secure digital identification.
“We are pleased that Giesecke+Devrient places its trust in us and that we will jointly provide biometric and AI-based products for digital identification. With its global presence and expertise, G+D is the ideal partner for IDnow. We set the highest value on the reliability and efficiency of our products, combined with a superior customer experience,” said IDnow CEO Rupert Spiegelberg.
“In our focus markets payment and connectivity, the secure management of identities is key to creating customer confidence. A great digital customer journey starts with secure and convenient onboarding. We are very excited to partner with IDnow to complete our offering for secure remote identification,” says Carsten Ahrens, CEO of G+D Mobile Security. “In our partnership we are combining G+D’s global expertise with IDnow’s leading edge identity platform. And we are moving fast - in fact, the first joint customer projects have already been launched.”
Giesecke+Devrient (G+D) is a global security technology group headquartered in Munich, Germany. Founded in 1852, the Group has a workforce of 11,600 employees and generated sales of approximately EUR 2,14 billion in the 2017 fiscal year. 72 subsidiaries and joint ventures in 32 countries ensure customer proximity worldwide.
G+D develops, produces, and distributes products and solutions for secure payment, connectivity, identities and digital security. G+D is a technology leader in these markets and holds a strong competitive position. The Group’s customer base mainly comprises central and commercial banks, mobile network operators, business enterprises, governments, and public authorities. For more information, please visit: www.gi-de.com.
About IDnow GmbH
IDnow provides the world’s most advanced machine-learning technology for its Identity-as-a-Service platform that can verify in real time the identities of more than 6.3 billion people from 115 different countries. Our patent-protected video identification and e-signing solutions help our clients save money, improve customer conversion rates and streamline the onboarding process. We are backed by the venture capital investors BayBG, Seventure Partner, G+D Ventures and Jet A and a consortium of well-known business angels. Founded in 2014, we already count a large and fast growing team of 300, making us one of Europe’s fastest growing fintechs. Clients are leading international blue chip companies such as Commerzbank, UBS, Sixt, Erste Bank and Telefonica Deutschland, many fintechs like Fidor, N26 and smava as well as many blockchain-based companies. IDnow was awarded “Most Successful Fintech” in 2017.
Further information available at www.idnow.io.