The acquisition makes Entrust one of the only companies equipped to help customers navigate security challenges as AI technology evolves
Entrust completed its acquisition of Onfido, a leading player in identity verification solutions. With this acquisition, Entrust now provides the industry’s most comprehensive portfolio of AI-powered, identity-centric security solutions. Terms of the acquisition were not disclosed.
“This acquisition comes at an inflection point in the industry,” said Todd Wilkinson, president and chief executive officer, Entrust. “With the acquisition of Onfido, our customers can leverage global-leading identity verification technology to meet the new challenges of cybersecurity in the age of AI. Identity-centric security is the starting point for Zero Trust frameworks and ensures a company’s cyber defense is best positioned to meet today’s threats. Entrust now provides the broadest identity-centric security capabilities in the market which combine with strong encryption technologies to enable the evolution to Zero Trust.”
Founded in 2012, Onfido makes it easy for people to access services through digital verification. Prior to being acquired, the company had over $140 million in annual revenue and more than 500 employees. Onfido’s over 1,200 customers globally include some of the world’s leading financial institutions, e-commerce, gambling and gaming companies, and sharing economy platforms.
Entrust will service a range of business requirements by leveraging Onfido’s cutting-edge identity verification solutions across the Entrust portfolio including its biometrics, AI/machine learning, and no-code orchestration capabilities. Now, capabilities include automated security defenses, with a layered, enhanced approach to fraud detection, using AI developed in-house to verify genuine identities. With its updated and new solutions, organizations can secure digital-first experiences for customers, citizens, and their workforces, while complying with global regulations and reducing fraud.
