ID-Pal expands globally as clients seek to acquire online customers

ID-Pal expands globally as clients seek to acquire online customers

Dublin-based ID-Pal has raised €1m in funding to fuel its continuing expansion: Simon Montgomery, chief operating officer; Colum Lyons, founder and CEO; Robert O’Farrell. chief technology officer; James O’Toole, chief business officer; and Shelley McKinney, chief marketing officer. Photos: Conor Healy / Picture It Photography

Remote working trends have accelerated the global growth path which Irish online ID verification firm ID-Pal was already enjoying prior to Covid-19.

Dublin-based ID-Pal's online customer acquisition platform is already being used by businesses in 43 countries across the EU, USA, Middle East and Asia.

Current clients of ID-Pal include AIB Merchant Services, Elavon, Fexco, HID Global, KYC Global, Mercer, One4all and Sherpa Technologies, among others across the SME and corporate sectors.

They also have active partnerships with Temenos and Salesforce. ID-Pal initially targeted SMEs, delivering instant access to its Software as a Service (SaaS) platform to take the cost, risk and frustration out of customer onboarding.

What initial customers like accountants and credit unions liked was that ID-Pal was offering a GDPR-compliant tool to verify a client's IDs, to securely capture data with a plug-in tool that didn't require building any new IT architecture.

“Many companies just don't have time and resources to reinvent the wheel when it comes to new customer onboarding online,” said Colum Lyons, founder and CEO of ID-Pal. “What we have created is a solution that is customised to our client's needs and has them up and running within one day.

“Their customers' data is securely captured and verified in real-time. They can be sitting at home, analysing data and creating operational efficiencies. The focus is on reducing capturing data securely, minimising the risks and the costs, and doing that without a costly build.” 

ID-Pal’s end-to-end solution can be configured, branded and integrated with a business's processes with minimal technical effort. The platform allows businesses to maximise their customer acquisition rates compliantly across all channels and jurisdictions.

The ID-Pal system uses mobile technology that allows clients across multiple industries and sectors, including but not limited to payments, financial services, legal, insurance and property, to facilitate verification of their customers’ identities quickly and easily.

Founded in 2016, ID-Pal's focus on regulatory compliance also saw the company achieve the relevant security industry ISO 27001 standard mid-way into its fourth year in business.

“Security is very important to us,” said Mr Lyons. “For a company that was just three-and-a-half years old to get the ISO standard has been quite an achievement.

Colum Lyons, founder and CEO of ID-Pal. The Dublin-based company has developed innovative technology that enables businesses to verify the identity of customers in real-time.
Colum Lyons, founder and CEO of ID-Pal. The Dublin-based company has developed innovative technology that enables businesses to verify the identity of customers in real-time.

“Being compliant with data regulations is very important for our clients. While we started out focusing on SMEs, we soon moved to the mid-tier market and we've been very quickly called up the ladder to corporate level.

“Our growth in new markets is roughly 50% direct sales and 50% with our channel partners, Temenos and Salesforce. We've just signed up a bank in Kenya as a new client. Getting into these new markets is definitely made easier by having channel partners. Of course, having already big corporate clients already using our solution also helps.

“A lot of companies have also been suffering because of Covid, so being able to use our solution remotely without installing new architecture has definitely helped them in their efforts to acquire new online customers.

“I would say that Covid hasn't really changed our trajectory. We were already expanding. However, it has definitely accelerated our growth. There are a lot of companies out there, across a range of sizes, who were glad to be able to implement our solution within one day.” 

The market-friendly nature of ID-Pal's platform has also recently seen the company secure €1m in new funding to continue its expansion on the domestic and international stage. The funding round includes investment from ACT Venture Capital along with a number of additional private investors.

The funding will be used to continue growth and development across all areas of the business including further investment in technology, resources, system processes and global sales and marketing activities including a focus on a range of international growth opportunities.

Colum Lyons said: “This is a really exciting time for ID-Pal. This funding will help us to continue to develop our product offering and the technology behind it which we can then deliver to new and existing customers in a flexible and bespoke manner, making sure their compliance and customer needs are easily addressed.

“With the COVID-19 pandemic having impacted countless businesses across the globe, we’ve been fortunate enough through our innovative approach to maintain our growth trajectory. There has been strong and continuing market interest in our solutions including international markets. We have gone from 11 to 19 employees in the last nine months with further roles to come in line with our growth through 2021 and beyond.”

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