In a significant move, Onfido, a global front-runner in automated identity verification, has confirmed the acquisition of Airside Mobile, an industry-leader specialising in private, digital identity sharing technology.
Airside, reputed for its ‘Privacy First. Human Always.®’ approach, has earned the trust of major US government agencies and over 10 million travellers, establishing itself as a pioneer in the travel industry.
The acquisition is driven by the shared vision to enable a ‘verify once, use anywhere’ model of digital identity, where customers hold control over their digital identity stored on their smartphones. This revolutionary model eliminates repeated identity verification processes, transforming user experiences across a range of sectors including travel, financial services, e-commerce, and internet platforms.
Onfido stands out in the FinTech landscape with its Real Identity Platform that establishes trust between governments, businesses, and people. The platform combines document and biometric verification, trusted data sources, and fraud detection signals to facilitate customer onboarding, authentication, and KYC processes. Conversely, Airside’s innovative Digital Identity App empowers individuals by storing their verified digital IDs securely on their device, making it easily accessible when required. The privacy-centric design eliminates the need to share unnecessary personal information when accessing services.
The acquisition brings together the strengths of both companies, heralding a transformative era in identity verification. Businesses are set to benefit immensely, witnessing more effective onboarding, expanded customer relationships, reduced fraud, and minimised data handling liabilities. Customers, on the other hand, will enjoy a seamless user experience across sectors.
Onfido CEO Mike Tuchen expressed his enthusiasm, saying, “This partnership will change that — giving users control and organisations greater confidence in who their customers are. We plan to take Airside’s proven approach to the airline industry and apply it to other sectors requiring high customer assurance, such as financial services — providing a single, trusted view of each customer’s identity.” Airside founder Adam Tsao will spearhead this venture as General Manager within Onfido.
The acquisition is already concluded, and Onfido’s products and services integrating Airside’s technology will be available later this year.
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
Copyright © 2018 RegTech Analyst
