Following the merger with ARIADNEXT, the joint group reports a successful first quarter.
Munich and London, May 24th, 2022, IDnow group, a leading European provider of identity proofing and document signing, reports a rising demand for the joint portfolio in the first quarter of 2022. The company has confirmed an increase in order intake by 95%.
By offering the broadest portfolio in Europe via a single platform, the IDnow group is at the forefront of current market trends: the acceleration of advanced digital business models has led to a shift in demand, from single-product identity verification towards more comprehensive identity proofing and document signing platforms such as IDnow’s.
Andreas Bodczek, CEO at IDnow, comments:
“By combining IDnow, ARIADNEXT and IdentityTM, the IDnow group has emerged as one of the strongest players in Europe as we offer business customers a range of solutions for various use cases and jurisdictions, all from a single source. This is reflected in both our financial performance as well as in our order book. Following a string of M&A transactions over the last 18 months, I am excited to see the company off to a flying start into its first year as a consolidated group and am looking forward to continued joint success.”
The group’s automated identity verification solution has also had a strong first quarter, with an increase in revenue of 134%. Automated identity verification has been a key trend in Europe for some time and it is receiving regulatory approval for Anti-Money Laundering (AML) use cases in an increasing number of European countries. The revenue growth for IDnow’s automated solution is expected to continue, as the group forecasts an 80% increase of order intake.
IDnow group has made a series of senior hires across Europe to support the company’s rapid growth. Mario Fassbender has joined as Vice President Marketing while Stefan Kauhaus has been recruited as Director Product Management Digital Identity. Mike Kiely has also joined IDnow’s UK team as Head of Financial Services.
For the second half of 2022, IDnow is looking to expand the platform for identity proofing with additional services. The group is anticipating further certifications to be granted in its role as a remote identification service provider. The group’s automated and expert-assisted solution in the French market are ready to receive a ‘prestataire de vérification d’identité à distance’ (PVID) certificate.
Similarly, the group anticipates entry into the Romanian market with the Authority of Digitization of Romania (ADR) certification.
IDnow group’s automated solution, coupled with a Qualified Electronic Signature (QES), already offers a global solution for remote onboarding for industries under AML regulation.