Entrust finalises Onfido acquisition

With this completed acquisition, Entrust now provides a comprehensive portfolio of AI-powered, identity-centric security solutions. Terms of the acquisition were not disclosed.Modern technology enables more complex scams for fraudsters

Onfido’s technology fights fire with fire, utilising AI to deliver reliable liveness detection and spot deepfakes, video spoofs, masks, and similar identity theft tactics. Since 2023, Onfido prevented over USD 6 billion in potential fraud.

Entrust ready to deploy the new acquired capabilites

Entrust will service a range of business requirements by leveraging Onfido’s cutting-edge identity verification solutions across its business portfolio, including its biometrics, AI/machine learning, and no-code orchestration capabilities. Capabilities include automated security defences, with a layered, enhanced approach to fraud detection, using AI developed in-house to verify genuine identities.

With its updated and new solutions, organisations can turn to Entrust to secure digital-first experiences for customers, citizens, and their workforces, while complying with global regulations and reducing fraud.

Benefits for financial services and identity access management:

• Financial services: Digital onboarding for financial services and payments starts with real identity, verifying the person and their credentials. Financial services and payments companies will now be able to onboard trusted customers, authenticate them, and issue debit cards in a matter of minutes while reducing their fraud exposure and remaining compliant with international regulations and standards;

• Identity access management (IAM): Entrust will integrate Onfido’s AI-powered tools into its existing IAM solutions to protect critical assets and transactions with enhanced authentication, leveraging biometrics and digital certificates.