Amsterdamn-based Ver.iD, an SaaS platform for digital identification verification, has introduced the elevating of €2 million in angel funding so as to increase forward of the latest eIDAS 2.0 regulation.
Wanting forward from this latest funding, the platform is getting ready for a brand new €4 million funding spherical to speed up its European progress.
“In a time when AI-driven fraud and information breaches dominate the information, Ver.iD permits corporations 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 gives corporations and governments with an easy-to-integrate resolution for digital identification verification. Absolutely compliant with present safety requirements, together with ISO27001, NIS2, and DORA, Ver.iD permits customers to find out what info they share whereas making certain a seamless expertise for organisations.
2024’s introduction of eIDAS 2.0, the brand new European regulation for digital identification, has elevated the urgency to implement safe and user-friendly options. By 2026, private and non-private organisations, together with banks, vitality suppliers, and insurers, will probably 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 person expertise.
Ver.iD has drawn comparisons to Adyen, a fellow Dutch firm that permits companies to simply accept e-commerce, cellular, and point-of-sale funds. Ver.iD says that “Simply as Adyen helps companies combine a number of fee strategies and permits clients to decide on their most well-liked fee methodology, Ver.iD gives the same service for identification apps. The platform permits corporations to seamlessly combine ID wallets and digital identification strategies, whereas clients retain the power to pick out their most well-liked identification 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 automotive insurance coverage purposes via digital identification as a substitute of bodily paperwork.
- Municipality of Nijmegen: Optimising digital onboarding and repair supply with the addition of eID performance.
- Compliance sensible: Serving to round 200 accounting companies adjust to buyer identification laws.
Moreover, pilots are being performed in collaboration with the Chamber of Commerce to unlock authorisation information for executives via ID wallets.
The platform doesn’t retailer buyer information and provides customers management over the knowledge they share. Every ID app is rigorously reviewed to fulfill Ver.iD’s excessive requirements, making certain most safety and safety in opposition to 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 resolution. It’s a necessary companion for companies getting ready for the calls for of eIDAS 2.0.”
“We’re pleased with the belief our buyers and purchasers have positioned in us,” says Van Altena. “Our objective is to turn out to be a world market chief and set the usual for digital identification in Europe.”