IDNow offers digital identification and online contract conclusion for financial institutes, leasing companies, ICOs, etc. It has developed a proprietary platform that enables companies to identify clients in real time via video chat. Its customer base includes direct banks, modern branch banks, financial services providers, credit card issuers, municipalities, and health insurance schemes. Recently, the company was selected by Plug and Play ADGM for the second batch of its FinTech program (2019).
PRODUCTS & SERVICES:
IDnow offers two different products:
1. IDnow Video-Ident: The platform enables identification of an individual by video chat while taking into account all the requirements of the Money Laundering Act, data protection directives, and supervisory authorities like BaFin, FIAU, FINMA or FMA. The identity verification platform enables consumers to verify their identity online, using their smartphone, tablet or webcam via image recognition of their ID.
2. IDnow eSign: The online contract conclusion platform enables businesses to sign contracts with their customers online with the help of an electronic signature. Recently, IDnow launched KYC solutions for crypto providers. It has rolled out two new services: IDnow Crypto-Ident (photo) and IDnow Crypto-Ident (video) to enable crypto providers to comply with AML regulations. For the photo solution, the customers have to take a picture of their ID document and a selfie and upload it to the platform, whereas for the video option, customers have to display their ID document in front of their webcam/smartphone and follow the instructions of the Ident specialist.
MEDICI analysts will analyze IDnow soon
Insufficient information for accurate analysis
DATE OF LAST FUNDING:
TOTAL FUNDING COMMENT:
An undisclosed amount was raised in Series A funding in 2016.