IDnow, an identity verification company, has appointed Andreas Bodczek as its CEO and Joseph Lichtenberger as the new CFO.
Additionally, all of the company’s founders will return to the operational business. This shift has come in a bid to support the company’s expansion into new industries and European markets. The goal for the next few years is to breach the €100m turnover barrier.
Andreas Bodczek and Joseph Lichtenberger will take up their positions immediately and will focus on expanding the business in the German financial industry and establishing operations in France and the UK.
IDnow VideoIdent, an online identification service via video chat, and IDnow AutoIdent, an AI-powered system which captures passports, driving licences and other identification documents from 193 countries, will play a big role in the expansion efforts, the company said.
Prior to serving as the CEO at IDnow, Andreas Bodczek was the co-founder and CEO of mobile advertising company Fyber, between 2009 and 2017.
Joseph Lichtenberger, IDnow’s new CFO, previously served as the CFO at Kabel Deutschland, Roland Berger and Scout24. During his time at Scout24, he managed the multi-billion-euro sale to private equity firms Hellmann & Friedman and Blackstone.
IDnow CEO Andreas Bodczek. “Secure online identification is interesting for a broad market: all digital business models that include a value transaction worth protecting need secure digital identities for customers. Since the company’s inception, IDnow has impressively demonstrated how much this can boost digital transformation in the financial industry.
“I see great potential for the same development in other sectors such as insurance and mobility. Our goal at IDnow is to carry our established technology into these areas and thus pave the way for disruptive innovation.”
IDnow’s SaaS-based verification tools are used by over 250 customers, including N26, Commerzbank and UBS. Its video identification and e-signing solutions help companies improve customer conversion rates and streamline the onboarding processes.
Last year, the RegTech expanded its verification capabilities to help more European companies meet KYC compliance requirements.
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