Priya Patel
The big news in the ID verification space is the acquisition of Onfido by Entrust. The terms of the deal have not yet been finalized, but reports suggest that the purchase price is over $400 million. Onfido is a pioneer in AI-based ID verification and has clients in various industries, but it has particularly strong roots in the fintech sector. The demand for anti-fraud and ID verification tools is on the rise as banks and fintech companies strive to create a frictionless user experience while also minimizing fraud. This acquisition positions Entrust as a leader in the space.
