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IDnow Joins FIDO Alliance- IDnow joins other global technology leaders such as Google, Amazon, Softbank and Facebook as a member of the FIDO Alliance. MUNICH, Sept. 19, 2019 /PRNewswire/ -- IDnow (www.idnow.io), a provider of Identity Verification-as-a-Service solutions with over 250 clients including N26, Commerzbank and UBS, is joining the FIDO Alliance. The goal of the alliance is to establish authentication standards and reduce password dependency to provide greater security for online transactions.
The FIDO Alliance and its distinguished members from the technology and software communities jointly develop specification standards for authentication solutions used across mobile, web and desktop applications. Using cryptography, security keys and biometric methods, FIDO authentication is safer and more convenient for the end customer than traditional password and SMS two-factor authentication solutions. As a long-standing market player, IDnow will now be able to support the FIDO Alliance with its comprehensive expertise. IDnow has been active in the identity verification market since 2012 and is an industry-leading provider of secure advanced online identification solutions. Since the end of last year, IDnow has expanded its product portfolio to include the fully automated product, AutoIdent, based on artificial intelligence (AI). The AI and Mchine Learning (ML) based technology is currently setting a new global standard for the industry. Having evolved under the strict regulatory requirements of the German financial market, IDnow will support the FIDO Alliance with its extensive expertise covering the highest security standards. "We are pleased to welcome IDnow as a member of the FIDO Alliance. IDnow brings innovative AI-based identity verification technology and a high level of security experience to the Alliance. We look forward to their contributions and input, especially as we work as an industry to provide security standards and best practices for identity verification techniques in the context of identity binding to FIDO devices during registration and account recovery," said Andrew Shikiar, executive director and CMO of the FIDO Alliance. "It will be a very exciting project for IDnow to develop the identity verification market even more actively over the next few years as part of the FIDO Alliance. We look forward to working with other interesting companies in the technology industry and are proud to become a member," said Andreas Bodczek, CEO of IDnow. About IDnow With its Identity Verification-as-a-Service (IVaaS) platform, IDnow has set out to make the connected world a safer place. IDnow's unmanipulable identity verification is used across industries conducting online customer interactions that require a high degree of security. IDnow uses artificial intelligence to check all security features on ID documents and can therefore reliably identify forged documents. Potentially, the identities of more than 7 billion customers from 193 different countries can be verified in real-time. In addition to safety, the focus is also on an uncomplicated application for the customer. With five out of five stars on the Trustpilot customer rating portal, the technology is particularly user-friendly. IDnow covers a wide range of use cases both in regulated sectors in Europe and for completely new digital business models worldwide. The platform allows the identity flow to be adapted to different regional, legal and business requirements on a per use case basis. IDnow is supported by venture capital investors BayBG, Seventure Partner, G+D Ventures and Jet A as well as a consortium of renowned business angels. Its portfolio of over 250 customers includes leading international companies from various industries such as Bank of Scotland, BNP Paribas, Commerzbank, eventim, Raisin (Weltsparen), Sixt, solarisBank, Telefonica Deutschland, UBS, Western Union and wirecard as well as fintechs such as Fidor, N26, smava, and wefox. Press contact: Logo: https://mma.prnewswire.com/media/882614/IDnow_Logo.jpg 
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