Onfido, a London, UK-based automated identity verification company, acquired Airside Mobile, a Herndon, VA-based company which specializes in private, digital identity sharing technology.
The amount of the deal was not disclosed.
With the acquisition, Onfido will create an enhanced user experience that supports effective onboarding and expanded customer relationships, while reducing fraud and minimizing the liability associated with handling sensitive data. The transaction has already closed and the general availability of the Onfido products and services based on Airside’s technology will be available later this year.
Airside’s privacy-first identity management technology, combined with Onfido’s verification, enables a ‘verify once, use anywhere’ world, where customers can manage their own digital identity stored on their smartphone — using it to access new services without having to verify again.
Led by Adam Tsao, founder, who will lead the group within Onfido as General Manager, Airside provides connections between individuals and businesses by enabling instant identity proof – and sharing – for access to fast, streamlined services. Its privacy solutions empower people to store their verified digital ID securely on their phone and share it with complete consent and control. The company’s shareable digital identity technology has been used by over 10 million travelers and is trusted by major U.S. government agencies, including the Transportation Security Administration (TSA). Its customers include the world’s largest airlines, who allow passengers to use the innovative Airside Digital Identity App to fast-track passengers through U.S. airports.
Led by CEO Mike Tuchen, Onfido provides a Real Identity Platform that allows businesses to tailor verification methods to individual needs in a no-code orchestration layer, combining document and biometric verification, data sources, and passive fraud signals. The platform establishes trust between governments, businesses, and people, ensuring proper onboarding, customer authentication, KYC, and fraud protection.
Onfido is backed by TPG Growth, Idinvest Partners, Crane Venture Partners, Salesforce Ventures, M12 (Microsoft), and others.
FinSMEs
23/05/2023