Welcome to ID Tech’s digest of identity industry news. Here’s what you need to know about the world of digital identity and biometrics today:
IN Groupe Completes Acquisition of Nexi’s eID Business
IN Groupe, the French state-owned identity solutions provider, has completed its acquisition of Nexi’s electronic ID (eID) business, gaining operational control of Denmark’s national digital identity system, MitID. Launched in 2021, MitID supports over 5 million Danish citizens with digital identity services used across both public and private sectors, making it one of Europe’s most advanced eID infrastructures. IN Groupe will manage MitID operations while retaining its ownership structure through a partnership with the Danish Agency for Digital Government and Finance Denmark. To ensure continuity, IN Groupe and Nets have established a Transitional Services and Separation Agreement (TSA), detailing technical and security protocols for the transition.
BioCatch Tracks Significant Growth in Q3 Update
BioCatch has reported a 40 percent year-over-year growth in Annual Recurring Revenue (ARR) by Q3 2024, driven by rising demand for behavioral analytics in financial fraud prevention. The company added 31 new customers this quarter, totaling 237 financial institutions, including a partnership with one of the top 100 global retail banks, expanding its reach to 34 of the world’s top 100 banks. BioCatch achieved a 124 percent net dollar retention rate, underscoring strong customer loyalty. Following its acquisition by Permira for $1.3 billion, BioCatch also secured a global deal with a European multinational bank and increased its workforce to over 340 employees across 21 countries. The company has expanded its research collaborations, partnering with the Global Anti-Scam Alliance and Javelin Strategy & Research, and publishing fraud trend reports focused on Brazil, Latin America, and France.
Wegmans Supermarket Chain Joins Retail Facial Recognition Trend
Wegmans has initiated a facial recognition pilot program at its Brooklyn Navy Yard location, focusing on biometric data collection from consenting employees. Notices at the store inform customers that data from non-participants will be deleted. The program reflects broader retail trials of facial recognition technology for security and operational purposes. The move coincides with heightened legislative scrutiny in New York, where the pending Biometric Privacy Act would regulate biometric data collection and use. New York City already mandates businesses to post notices about biometric data collection and bans the sale of such information. Recent legal cases underscore the varied regulatory landscape for biometric privacy, with differing approaches across states.
IDnow Joint Venture Certified as e-Signature Provider for EU
IDnow Trust Services AB, a joint venture between IDnow and ESYSCO, has achieved certification as a Qualified Trust Service Provider (QTSP) under EU Regulation 910/2014 (eIDAS), granted by Sweden’s Post-och telestyrelsen (PTS). The certification authorizes the issuance of qualified electronic signatures, timestamps, and seals with legal recognition across the EU, offering high-security digital transaction validation. Notably, IDnow Trust Services AB introduces SMS-free signing, which eliminates one-time password codes, enhancing user convenience. This service complies with CEN and ETSI standards for qualified electronic signatures. The certification supports the EU’s push toward digital identity wallets under the forthcoming eIDAS 2.0 framework.
iProov and Biometrid Join Forces to Enhance Digital Identity Verification
iProov, a UK-based biometric identity provider, has partnered with Portugal’s Biometrid to expand digital identity verification solutions in Portugal and other regions. Founded in 2011, iProov is known for its facial biometric technologies, including Dynamic Liveness and Express Liveness, which are used by governments and financial institutions for remote identity verification. Biometrid operates an identity orchestration platform that handles over 500,000 monthly identity verifications for government and financial clients. The partnership combines iProov’s biometric capabilities with Biometrid’s platform to bolster security against fraud techniques like deepfakes and spoofing. The collaboration aligns with regulatory requirements for digital identity solutions, addressing Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance, amid increasing demand for secure digital identity systems across sectors.
Nigerian State to Provide Orphans with Digital ID
The Plateau State Government in Nigeria has signed an MOU with Both Ends Believing (BEB) and the Association of Orphanages and Homes Operators in Nigeria (ASOHON) to implement digital identity tracking for children in orphanages. Using BEB’s Children First Software (CFS), the initiative aims to create and maintain detailed profiles for children in institutional care to help prevent child trafficking and support family placements. The CFS platform, already deployed in several countries, will assist Plateau State authorities in tracking vulnerable children and monitoring compliance within orphanages. Governor Caleb Mutfwang highlighted the presence of trafficking networks in Plateau’s 17 Local Government Areas, describing the initiative as a necessary response to prevent further exploitation.
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November 5, 2024 – by Tony Bitzionis and Alex Perala
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