News ReleaseID-Pal expands into the United States with identity verification solution
ID-Pal
· Unique market offering simplifies identity verification for SMEs · Integrates seamlessly with global enterprises via API/SDK · Strategic expansion follows a successful launch in the UK in 2022 · Invited to join business and political leaders as part of Enterprise Ireland’s St. Patrick’s week program in New York Leading global identity verification solution firm ID-Pal, today introduced its offerings into the US market to meet demand for its platform across the United States. Championed by Enterprise Ireland, the US launch is building on ID-Pal’s success in serving both SMEs and enterprises across 30-plus industries with simple, secure, and convenient identity verification. Offering global coverage of more than 6000 identity documents across 200 jurisdictions and countries, clients now include payments and gift cards provider Blackhawk Network (BHN), leading procurement and compliance platform Certa, global payments company and a subsidiary of US Bancorp Elavon and the recent J.P. Morgan-acquired Global Shares. ID-Pal’s presence in the US is further bolstered by recent partnerships with financial service providers such as Spirit of Alaska Credit Union and award-winning lending and deposit account opening platform CreditSnap. The company also has an impressive network of strategic partners in the United States, that includes Salesforce, Corporate One and Melissa. Colum Lyons, CEO and founder of ID-Pal, said: “The standard of security, fast deployment, and digital transformation we provide organizations sets us apart. We work with industry leaders from across 30 sectors, which is evidence that our technology-first approach to identity verification makes it simple, secure, and convenient for any organization.” ID-Pal offers businesses an easy way to verify the identity of an individual. Using a unique blend of biometric, document, and database checks to verify identities in real time, the solution leverages automated decisioning and smart workflows to deliver industry-leading accuracy, and better outcomes, with data protection compliance built in. Available off-the-shelf to go live in minutes, ID-Pal also integrates seamlessly with existing processes via an API or SDK. It can be deployed same day and is fully customizable thus reducing lengthy development time and demands on in-house resources. Expansion into the United States allows ID-Pal to support financially regulated organizations struggling to balance compliance and fraud prevention with a friction-free user experience. The identity verification solution streamlines anti-money laundering (AML) and Know your Customer (KYC) compliance while offering a robust audit trail. Knowledge-based authentication (KBA) and database-focused solutions also struggle to match the sophistication of modern-day fraud, for which a multi-layered approach to verification via a platform like ID-Pal is needed. Karen Cohalan, Department Manager for Fintech, Financial & Business Services at Enterprise Ireland “Enterprise Ireland warmly welcomes ID-Pal’s launch in the US market. Supporting Irish-owned companies to achieve greater scale and expand their global footprint is an ongoing priority for Enterprise Ireland. Enterprise Ireland looks forward to working with the ID-Pal team to continue to support their growth ambitions as they expand their customer base in the US whilst continuing to create jobs here in Ireland.” The regtech’s official entrance into the US market comes less than a year after its successful launch in the UK and a Series A funding round. Today, UK businesses now account for over 30% of ID-Pal’s revenue and, following continued market traction there, 15% of their revenue is now from the US. Industry-approved and offering an award-winning user experience, the solution is ISO 27001 certified, which is the global SOC 2 equivalent. ID-Pal joined the prestigious 2022 AIFinTech 100 and 2023 RegTech100 lists of the world’s 100 most pioneering businesses in AI and regulatory technology, as well as ranking sixth in the Deloitte Fast 50 2022. In addition to the backing of the Irish government organization Enterprise Ireland, ID-Pal has received investment from European Inspire Investments, Act Venture Capital and US investors FA Ventures Fund, LTD, all of which have endorsed ID-Pal’s impressive expansion into new markets. Colum Lyons, CEO and founder of ID-Pal, added: "2022 was a landmark year for ID-Pal. In just nine months we launched in the UK, secured Series A funding, and now, with the support of Enterprise Ireland, our US and European investors, and our strategic partners, we are officially launching into the US in 2023.” Founded in 2016, ID-Pal is an award-winning ISO 27001 certified identity verification solution that enables businesses to verify identities and addresses in real-time. Offering a unique blend of industry-leading biometric, document and database checks to streamline AML and KYC in one GDPR compliant solution, it is available off-the-shelf and also integrates seamlessly with existing processes via an API or SDK. ID-Pal’s technology is also certified for the UK Digital Identity & Attributes Trust Framework (UKDIATF). Headquartered in Dublin and backed by Enterprise Ireland, ID-Pal offers global identity verification coverage of more than 6000 identity documents and 200 verified address data sources to enterprise clients and SMEs across 200 countries and jurisdictions. Ranked sixth in the 2022 Deloitte Technology Fast 50 Awards, ID-Pal is also a member of the global AIFintech100 2022 and listed in the RegTech100 2023. ID-Pal is a previous winner of Best Customer Facing Experience in the PAY360 Awards and the IT & Fintech Irish Times Innovation Award in 2022. For more information visit: www.id-pal.com Contact Details MKPR Meir Kahtan +1 917-864-0800 mkahtan@rcn.com
March 13, 2023 09:00 AM Eastern Daylight Time
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