- Only two identity verification providers have made this year’s list
- The strength of ID-Pal’s identity verification solution continues to grow as it makes its way for the third time into FinTech Global’s rankings
- Previous rankings included in RegTech100 2023 and AIFinTech100 2022
London, May 11th 2023 –
FinTech Global has named identity verification provider ID-Pal as one of the leading innovators in their CyberTech100 for 2023, the annual list of the top 100 global CyberTech organisations improving the cyber defences of financial institutions.
The companies that make up the 2023 ranking are proven to offer technical solutions that expertly address challenges faced by financial institutions in the areas of data & communications security, cybercrime, financial fraud, identity & access management and threat management.
Thousands of firms were vetted by FinTech Global and the final 100 selected for the CyberTech100 were chosen by a panel of analysts and industry experts. Organisations shortlisted must show not only the industry significance of the problem being solved, but also customer traction, the innovation of the solution, and potential cost savings to be deemed a solution that financial institutions must know about.
ID-Pal was one of just two identity verification solutions selected by FinTech Global for the CyberTech100 ranking. ID-Pal is ISO 27001-certified and enables real-time identity verification, end-to-end onboarding screening and ongoing monitoring. The platform prevents fraud at source in financial institutions globally and offers an award-winning user experience. ID-Pal is also a member of the RegTech100 2023 and was selected for the AIFinTech100 2022.
After just one year of launching in the UK, ID-Pal’s identity verification solution has experienced rapid adoption and market growth amongst financial institutions, with UK businesses now representing over 30% of revenue. Similar success is already being mirrored in the US, where ID-pal recently launched. FinTech Global’s selection of ID-Pal for the CyberTech100 further reinforces it’s positioning as one of the most innovative and fastest growing Regtech to watch.
Customers of ID-Pal are leaders across over 30 industries seeking the security and fraud prevention built into the solution, like gift cards provider Blackhawk Network (BHN), global payments company and a subsidiary of US Bancorp Elavon and the recent J.P. Morgan-acquired Global Shares. Strategic partners include Melissa, HID Global, RiskScreen, Sherpa Technologies, Temenos and Vesta.
On joining this year’s CyberTech100, CTO and co-founder Rob O’Farrell says:
“Identity verification can be full of cyber security ‘potholes’ just waiting to trip you up. In ID-Pal we pave those roads for organisations. This helps companies avoid thousands of threats, years of study and save millions in terms of the Total Cost of Ownership. We’re extremely proud of the recognition our simple approach is receiving by joining the 2023 CyberTech10O and thanks to the FinTech Global panel for selecting us for the final 100.”
ID-Pal leverages automated decisioning and smart workflows to deliver industry-leading accuracy in identity verification outcomes, all with data protection compliance built in, helping its customers quickly and securely verify identities.
Commenting on the latest CyberTech100 list, Richard Sachar, FinTech Global Director said:
“As challenges such as ransomware, phishing and data breaches still plague financial institutions, there has never been a more important time for businesses to use CyberTech solutions. With the average cost of data breaches being in the millions, it is critical firms look for the solutions that can guarantee their protection, particularly as the tough economic climate puts pressure on finances. This year’s CyberTech100 list arms companies with the necessary information to find the industry change-makers who are providing companies with the opportunity to be well protected against these threats.”
Winner of Best Customer Facing Experience at the Pay360 Awards 2021. ID-Pal is an award-winning ISO 27 001 certified SaaS solution that enables businesses to verify the identity and address of customers in real-time and meet their AML/KYC compliance requirements. The plug and play platform does not require integration and can be up and running same day. Customisable to the specific needs of any business, the solution eliminates the complexity, cost, timelines, and risk associated with regulatory compliance.