IDnow marks a decade of success
IDnow, the platform provider for identity verification in Europe, looks back on ten successful years of revolutionising the German and European Know-Your-Customer (KYC) market and is now doubling down on reusable identities and trust services.
Founded in 2014 by Armin Bauer, Sebastian Bärhold, Felix Haas and Dennis von Ferenczy, the Munich-based company’s flagship product at the time was the revolutionary VideoIdent.
A platform with automated and expert-led solutions that serves all needs
A variety of solutions have been added to the portfolio since 2014, following market needs and technological trends: the AI-supported, fully automated AutoIdent solution was introduced in 2018, followed by the electronic function of the German ID card (eID) in 2019. Just last year, IDnow introduced ShopIdent, the onsite solution for identification in German petrol stations and stores.
In 2019, Andreas Bodczek, was appointed as CEO at IDnow: “We have made it our mission over the past five years to actively shape and lead our industry and show our customers why digital identities are essential to their business.
“In the last decade, we have grown into a platform provider that serves all market needs with the help of the latest technology. We have earned the trust of our customers because we focus on our core business every day without losing sight of the secular trends that are shaping the market.”
Munich-based scale-up has long been one of the largest European players
In 2021, increased expansion opportunities led IDnow to acquire the French market leader for identity verification technology, ARIADNEXT, and the German provider identity Trust Management AG, establishing IDnow as one of the largest European players in the identity industry.
In addition to its traditional financial and telecommunications applications, new growth areas for IDnow have opened up in the mobility and travel industry, online dating, gaming, human resources and social media. Although user needs and regulatory requirements differ greatly from traditional industries, the desire for increased trust in digital transactions has grown across territories, regardless of the use case.
Reusable identities and trust services determine the future
The digital identity industry is facing a paradigm shift due to regulations, such as eIDAS 2.0 at the European level or announced changes to the Videoident regulation in Germany. With its more than 900 trusted customers, the company aims to leverage these relationships and take them to the next level by building up its own trust service and a digital identity pool of several million users in the next few years. In doing so, the scale-up intends to lead the way in the transformation of the digital identity market heralded by eIDAS 2.0: European trust services, reusable identities and a fully integrated, broad product portfolio form the basis of the company’s long-term product strategy.
Bodczek says: “Today, we are facing a fundamental transformation of our industry – away from the one-time verification process and towards reusable identities – and we will once again lead this revolution,”
“Since its founding, IDnow, with its broad and continually evolving portfolio, has shown a great deal of foresight, resilience, and adaptability to market developments. With a team of over 450 highly skilled colleagues across ten offices in Europe, we are already one of the largest players in the identity industry. The experience, expertise, and innovation drive that we have assembled in-house make us extremely optimistic about the next ten years of our company and the industry at large.”
IDnow, a leading provider of identity verification solutions, is celebrating a decade of success in the industry. Since its founding in 2010, the company has grown exponentially and established itself as a trusted partner for businesses looking to verify the identities of their customers securely and efficiently.
Over the past ten years, IDnow has continuously innovated its technology and expanded its product offerings to meet the evolving needs of its clients. The company’s solutions are used by a wide range of industries, including finance, e-commerce, and telecommunications, to prevent fraud, comply with regulations, and enhance the customer experience.
One of IDnow’s key strengths is its commitment to security and compliance. The company’s solutions are designed to meet the highest security standards and regulatory requirements, such as GDPR and KYC regulations. This focus on security has earned IDnow the trust of some of the world’s largest companies, who rely on its technology to protect their customers’ sensitive information.
In addition to its strong emphasis on security, IDnow is also known for its user-friendly interface and seamless integration capabilities. The company’s solutions are easy to use for both businesses and customers, making the identity verification process quick and convenient. This has helped businesses streamline their onboarding processes and reduce friction for their customers, ultimately leading to higher conversion rates and improved customer satisfaction.
Looking ahead, IDnow shows no signs of slowing down. The company continues to invest in research and development to stay ahead of emerging threats and technologies in the identity verification space. With a dedicated team of experts and a proven track record of success, IDnow is well-positioned to lead the industry for another decade and beyond.
In conclusion, IDnow’s ten years of success are a testament to the company’s dedication to innovation, security, and customer satisfaction. As businesses continue to prioritize identity verification in an increasingly digital world, IDnow remains a trusted partner for those looking to verify identities quickly, securely, and seamlessly.
