Amsterdam-based Ver.iD, an SaaS platform for digital id verification, has introduced the elevating of €2 million in angel funding as a way to increase forward of the latest eIDAS 2.0 regulation.
Trying forward from this latest funding, the platform is making ready for a brand new €4 million funding spherical to speed up its European development.
“In a time when AI-driven fraud and information breaches dominate the information, Ver.iD allows firms to obtain solely the mandatory buyer information. This ensures privateness whereas making onboarding and verification processes sooner, safer, and extra user-friendly,” says Robert van Altena, co-founder of Ver.iD.
Based in 2022, Ver.iD offers firms and governments with an easy-to-integrate answer for digital id verification. Totally compliant with present safety requirements, together with ISO27001, NIS2, and DORA, Ver.iD permits customers to find out what info they share whereas guaranteeing a seamless expertise for organisations.
2024’s introduction of eIDAS 2.0, the brand new European regulation for digital id, has elevated the urgency to implement safe and user-friendly options. By 2026, private and non-private organisations, together with banks, power suppliers, and insurers, will likely be required to combine digital ID apps into their processes.
Ver.iD is planning to be key participant on this transformation by providing an answer that ensures compliance whereas combating fraud, minimising information breaches, and enhancing the consumer expertise.
Ver.iD has drawn comparisons to Adyen, a fellow Dutch firm that enables companies to just accept e-commerce, cellular, and point-of-sale funds. Ver.iD says that “Simply as Adyen helps companies combine a number of cost strategies and permits clients to decide on their most popular cost technique, Ver.iD gives an identical service for id apps. The platform permits firms to seamlessly combine ID wallets and digital identification strategies, whereas clients retain the flexibility to pick their most popular id app.”
Ver.iD’s platform is already getting used for each experimental (‘change’) and day-to-day (‘run’) operations by main organisations, together with:
Verbond van Verzekeraars and Nationale Nederlanden: Simplifying processes like automobile insurance coverage purposes by digital identification as a substitute of bodily paperwork.
Municipality of Nijmegen: Optimising digital onboarding and repair supply with the addition of eID performance.
Compliance smart: Serving to round 200 accounting corporations adjust to buyer identification rules.
Moreover, pilots are being performed in collaboration with the Chamber of Commerce to unlock authorisation information for executives by ID wallets.
The platform doesn’t retailer buyer information and offers customers management over the data they share. Every ID app is rigorously reviewed to satisfy Ver.iD’s excessive requirements, guaranteeing most safety and safety towards information breaches.
A Program Supervisor for Digital Id at one of many central authorities registers commented: “Ver.iD combines safety, ease of use, and scalable integration into one highly effective enterprise answer. It’s an important associate for companies making ready for the calls for of eIDAS 2.0.”
“We’re pleased with the belief our traders and shoppers have positioned in us,” says Van Altena. “Our objective is to grow to be a world market chief and set the usual for digital id in Europe.”
