IDnow’s decision to consolidate its identity portfolio is already starting to pay dividends. The company announced the move in March, and is already reporting that its order volume was up 95 percent in the first quarter of the year.
That increased interest is translating directly to more revenue. IDnow’s earnings from its automated identity verification offering were up 134 percent for the same period, and the company believes that that number will continue to grow in the months ahead. In that regard, IDnow is predicting that order intake will jump another 80 percent moving forward.
According to IDnow, its recent success speaks to the rising demand for streamlined identity solutions that can fulfill all of an organization’s needs with a single comprehensive platform. IDnow has been taking steps to meet that demand, most notably with the acquisition of the onboarding specialist ARIADNEXT in the summer of 2021. The company also offers a Qualified Electronic Signature utility to enable the secure signing of digital documents.
“We offer business customers a range of solutions for various use cases and jurisdictions, all from a single source,” said IDnow CEO Andreas Bodczek. “This is reflected in both our financial performance as well as in our order book. I am excited to see the company off to a flying start into its first year as a consolidated group and am looking forward to continued joint success.”
In other news, IDnow has been expanding its executive team to support its anticipated growth. The company has brought on Mario Fassbender as its new Marketing VP, and hired Stefan Kauhaus as its new Product Management Director for Digital Identity. They join incoming Trust Services VP Johannes Leser, who signed on in March to help establish IDnow as a Qualified Trust Services Provider in Europe.
IDnow expects to obtain France’s Prestataire de Vérification d’Identité à Distance (PVID) certificate and an Authority of Digitization of Romania (ADR) certification sometime in the near future. Those accomplishments will facilitate the company’s expansion into the French and Romanian markets, respectively. The company is already well-established in the UK, and recently signed a new strategic partnership with SCCG Management to target the gaming industries in Canada and Brazil.