Onfido on its way to join us in exciting partnership

Entrust, a data security solution provider, is in exclusive talks to acquire ID verification technology firm Onfido.

The acquisition would allow Entrust to add an AI/ML-based biometric and document IDV tech stack to its portfolio of identity solutions.

The deal, subject to regulatory approval, would value Onfido at around $650 million.

Onfido’s technology has previously been used by Tesco Bank and TSB.

Todd Wilkinson, president and CEO of Entrust, said the emergence of AI-based attacks requires a new level of identity assurance.

Mike Tuchen, CEO of Onfido, said the combination of the two companies’ technologies would allow for a new era of digital trust.