Acuant
, one of the leading providers of identity verification solutions across global market has announced the acquisition of its strategic partner Identity Mind in its latest announcement. Identity Mind is a firm similar to Acuant which specializes in identity management solutions. To be precise, Identity Mind is popularly known trusted digital identities provider. This Merger and acquisition move made by Acuant is part of its efforts to boost its range of operations in digital identities lifecycle. Acuant plans to combine its trusted identity platform with Identity Mind’s digital identity platform to create of the best identity platforms available in global market today. Acuant’s existing solutions focuses on identity proofing and verification while Identity Mind’s platform provided identity creation, risk scoring, transaction monitoring and regulatory compliance services (KYC &AML).
By merging these two platforms, Acuant’s newly evolved identity platform will now provide building, proofing, verifying and maintaining digital identity services making it a complete identity management solutions package. Acuant has remained as one of the industry leader in identity platform sector for more than two decades now having constantly developed and delivered successful innovative solutions which provided fast, accurate and secure identity verification service. At the same time, Identity Mind had acted as its rival by pioneering process for building trusted digital identities which solved various critical issues faced in the industry by addressing requirements for financial crimes, fraud, risk and compliance. With combination of these two entities into a single unit – Acuant now addresses one of the most difficult challenges faced in modern digital age which is verifying if you are truly who you claim to be.
Clients of the firm will now gain access to information they need for this verification process as per their requirements be it complete or basic details all in single platform made available via an API which provides services with unmatched flexibility, third party data and technology sources. This includes one of the most advanced and accurate risk decisioning allowing firms to act fast and deliver best user experience across all their channels. Acuant has managed to accomplish this achievement given its status as owner of more than 30 patents and largest ID library and global reach which encompasses all major industries from across the globe. Acuant described the new platform in simple words as an AI powered identity platform which offers broadest global coverage with API integration for omnichannel transactions.
Commenting on this deal, Garrett Gafke – CEO of Identity Mind said, “Establishing trust in customers and understanding risk is a vital part of success in the digital world. That’s why we built our platform around digital identities, creating and proofing 350+ million identities and earning 10+ patents along the way. There is more Trusted Identity innovation to come and we look forward to working with Acuant to make it happen”.
Speaking on same note, Yossi Zekri – President and CEO of Acuant said, “Never before has identity been so critical to building and maintaining a stable and productive economy. Businesses must rely on trusted identities to successfully transact, fight fraud and stay compliant. Our Trusted Identity Platform, now with IdentityMind’s orchestration layer, creates a new standard in identity verification”.
