Mar 31, 2020, 07:00 ET
LOS ANGELES, March 31, 2020 /PRNewswire/ -- Acuant, a leading global provider of identity verification solutions, today announced it has finalized the acquisition of former strategic partner IdentityMind, creator of Trusted Digital Identities. Expanding its reach across the digital identity lifecycle, Acuant will combine its award-winning Trusted Identity Platform for identity proofing and verification with IdentityMind's top-performing Digital Identity Platform for identity creation, risk scoring, transaction monitoring and regulatory compliance (KYC and AML). This evolution creates a best-in-class Identity Platform for building, proofing, verifying and maintaining digital identities.
"Never before has identity been so critical to building and maintaining a stable and productive economy," said Yossi Zekri, President and CEO of Acuant. "Businesses must rely on trusted identities to successfully transact, fight fraud and stay compliant. Our Trusted Identity Platform, now with IdentityMind's orchestration layer, creates a new standard in identity verification."
For over 20 years, Acuant has led the industry in developing innovative solutions that provide fast, accurate and secure identity verification. IdentityMind pioneered the building of trusted digital identities while focusing on the critical task of solving for financial crimes, fraud, risk and compliance. The combined platform executes against one of the most difficult challenges we face within our society today: addressing if you truly are who you say you are and delivering the answer with certainty and trust.
With unmatched flexibility, third-party data and technology sources, and a single API, customers can access as much or as little as they need of the platform. The result is an advanced orchestration hub that provides the most accurate risk decisioning, allows businesses to move faster and delivers the best user experience across all channels.
"As digital transactions continue to see massive growth, understanding who's on the other end of the transaction is key to reducing fraud, managing risk and complying with regulations," said Trace Fooshee, Senior Analyst with Aite Group. "This evolution of the Acuant Trusted Identity Platform with IdentityMind positions them well in the dynamic market for identity orchestration platforms."
"Establishing trust in customers and understanding risk is a vital part of success in the digital world," said Garrett Gafke, CEO of IdentityMind. "That's why we built our platform around digital identities, creating and proofing 350+ million identities and earning 10+ patents along the way. There is more Trusted Identity innovation to come and we look forward to working with Acuant to make it happen."
Acuant now holds over 30 patents, the largest ID library and global reach encompassing every major industry. Acuant and IdentityMind have garnered dozens of coveted industry awards and hold ISO 27001, Privacy Shield, SOC 2, PCI DSS 3.2 certifications, are GDPR and CCPA compliant, and NIST and ICAO adherent.
IdentityMind, creator of Trusted Digital Identities (TDIs), offers a SaaS platform for online risk management and compliance automation. With IdentityMind, companies can reduce client onboarding fraud and transaction fraud, and improve AML, sanctions screening, and KYC. By continuously building, validating and risk scoring digital identities through its eDNA™ technology, IdentityMind ensures global business safety and compliance from customer onboarding and throughout the customer lifecycle. IdentityMind securely tracks the entities involved in each transaction (e.g. consumers, merchants, cardholders, payment wallets, alternative payment methods) to build payment reputations, and allows companies to identify and reduce potential fraud, evaluate merchant account applications, onboard accounts, enable identity verification services, and identify potential money laundering. For more information, visit IdentityMind.
Acuant provides seamless identity verification for all industries to build your business with valid customers. The Acuant Trusted Identity Platform is powered by AI for the highest speed and accuracy rates. Omnichannel products provide superior customer experiences that allow businesses to establish trust via identity proofing from any location in seconds. Scalable, secure and compliant (KYC, AML, GDPR), award-winning products include government-issued identity document and chip authentication, biometric facial recognition and more. Providing the most global coverage, Acuant has completed more than one billion trusted transactions in over 196 countries. For more information please visit http://www.acuant.com.
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