Giesecke+Devrient and IDnow Combine their worldwide market presence
May 2018 by Emmanuelle Lamandé
G+D Mobile Security and IDnow GmbH entered into a partnership to combine expertise and resources with the aim to develop AI-driven biometric and security technologies. A first result of this cooperation is the development of a fully automatic remote identification solution for international markets.
G+D Ventures, the Corporate Venture unit of Giesecke+Devrient, took a minority stake in IDnow as part of a multi-million Euro investment to enable the acceleration of research and development and international expansion, thereby increasing the financing of the Munich-based growth company to over 10 million Euro.
The volume of the global market for the onboarding and management of digital identities is estimated at more than 10 billion Euro. Digital identities are a key factor in creating confidence in the digital economy of the future: market developments such as the regulation in the finance sector, digitization of business and e-government processes as well as ever increasing requirements with regard to data privacy and customer experiences will foster the need for new, global solutions to ensure the simple, secure and reliable management of digital identities.
Giesecke+Devrient and IDnow now cooperate to address the global market for secure digital identification.