Onfido Takes a Groundbreaking Step: Acquires Airside to Unlock a New Era in Digital Identity
May 22, 2023
The Global Leaders in Digital Identity have partnered to introduce self-controlled and portable digital identity enabling data privacy and next-level convenience. Users will only verify their identity once and utilize their digital credentials anywhere through their devices.
Once again the world of compliance has witnessed today another step towards digitization of compliance with Onfido, a global leader in Automated ID verification announcing the acquisition of Airside Mobile Inc. another leading name in digital identity.
Key Takeaways:
- Airside’s portable digital identity-sharing technology has over 10 million users in the US.
- It is trusted by major US government agencies including the TSA (Transportation Security Administration.
- World’s largest airlines have preferred Airside due to its safety and innovative features through Airside Digital Identity Application
- Airside has combined its privacy-first ID management technology with Onfido’s ID Verification to enable the concept of ‘Verify Once, Share Anywhere’.
Transforming the user experience in different aspects, the process of Identity Verification has become seamless to a whole new level with the partnership of these to industry leaders. Serving e-commerce, internet platforms, travel, and more, the integrated solution offers businesses to create a seamless and effective customer onboarding experience ensuring compliance and enhancing customer relationships.
Fraud Risk will be minimized and liability associated with sensitive data is also reduced.
Adam Tsao, the Founder of Airside will serve the merger and acquisition as the General Manager. He said, “By partnering with Onfido, the system is actually adding a layer in their verification process with Airside’s Digital ID. We have witnessed next-level identity management with the same level of trust and comfort in online payments.
Since, Airside’s approach to digital identity quotes and believes in “Privacy First, Human Always”, it became a perfect firm to be acquired by Onfido that is aimed to simplify digital identity.
Mike Tuchen CEO’s Statement
Mike Tuchen, the CEO of Onfido said on this decision, “So far, the identity verification process has been greatly digitized, but the basic processes still are the same. Onfido still struggles with a repetitive identity check every time when a new service is accessed. Our partnership with Airside will revolutionize that and it will enable the users to take control of their identities and will bring organizations a whole new sense of confidence through improved customer experience. Airside’s proven successful approach in the airline industry is highly supportive of building trust in customer’s identity view.
Our Thoughts
Gartner predicts that by 2026, 50% of smartphone users will be using verifiable claims that will be stored in decentralized identity wallets.”
Through a single and user-governed digital identity platform that is applied to multiple products, businesses will be able to cut costs on the ID verification and security of users’ sensitive data. Also, the compliance and regulatory requirements will be easy to comply with by minimizing data storage and processing hassle.
Source: Onfido
Also Read: FFIEC Launches Ambitious Revamp of BSA/AML Examination Manual
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Socure utilizes advanced AI and ML algorithms to analyze a multitude of data points and patterns, aiming to accurately assess the legitimacy and reliability of an individual’s identity. By harnessing diverse data sources like social media profiles, online presence, official records, and other pertinent information, they create a comprehensive and real-time identity verification system.
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