Leading Munich-based ‘Identity-as-a-Service’ innovator IDnow has consolidated its place as one of Europe’s hottest FinTech startups by making it into the FinTech50’s 2018 list of FinTechs to watch, it was announced earlier this week.

Founded in 2012, The FinTech50 was the first global ranking of innovation in FinTech. Today it publishes three lists – FinTech50 (Europe), FinTech50 (Asia) and The Global Access to Finance50.

Julie Lake, CEO and Co-Founder of The FinTech50 / FinTechCity has been carefully watching the pioneering progress IDnow has made in the increasingly critical field of identity verification, and said, “Identity and authentication was identified by our panel as a hot space this year and IDnow was always on our long and short lists.” This list was formed from a pool of 1,800 FinTechs across Europe.

“We are delighted to have joined this prestigious group which includes many of our customers like N26, solarisBank and Bunq,” said Rupert Spiegelberg, CEO of IDnow. “IDnow is fast becoming the go-to partner for Identity-Verification-as-a-Service solutions for banks, telcos and many other corporates in Germany, France, the UK and the rest of Europe.”

KYC (Know Your Customer) leader IDnow was founded in Germany in 2012 and began expanding internationally in 2016. With customers across 17 countries in Europe and Africa, IDnow is one of the world’s fastest growing and most feature-rich Identity-as-a-Service providers, offering innovative solutions to a wide variety of market sectors and geographies. IDnow is at the front of one of the most exciting and fast moving markets – online ID verification. According to the latest Fuel report by McKinsey and Company, identity-verification-as-a-service is currently worth close to $10 billion, and they predict that it will grow to a $16-20 billion market by 2022.