ID-Pal engineering successful expansion in key market

ID-Pal’s presence in the US is bolstered by partnerships with Spirit of Alaska Credit Union and deposit account opening platform CreditSnap

Colum Lyons, CEO and founder of ID-Pal, which helps businesses verify the identity of an individual in real-time using a blend of biometric, document and database checks.

In March 2023, ID-Pal announced its official launch into the US market to meet the demand for its platform across North America. 

Championed by Enterprise Ireland, the US launch is building on ID-Pal’s success in serving both SMEs and enterprises across over 30 industries with secure and convenient identity verification. 

ID-Pal offers businesses an easy way to verify the identity of an individual. Using a unique blend of biometric, document and database checks to verify identities in real-time, the solution leverages automated decisioning and smart workflows to deliver industry-leading accuracy and better outcomes, with data protection compliance built in. 

Offering global coverage of more than 6000 identity documents across 200 jurisdictions and countries, clients now include, payments and gift cards provider Blackhawk Network (BHN), leading procurement and compliance platform Certa, global payments company and a subsidiary of US Bancorp Elavon and the recent J.P. Morgan-acquired Global Shares. 

ID-Pal’s presence in the US is further bolstered by recent partnerships with financial service providers such as Spirit of Alaska Credit Union and award-winning lending and deposit account opening platform CreditSnap. The company also boasts an impressive network of strategic partners in the United States, including Salesforce, Corporate One and Melissa.

Expansion into the United States allows ID-Pal to support financially regulated organisations struggling to balance compliance and fraud prevention with a friction-free user experience. The identity verification solution streamlines anti-money laundering and Know your Customer compliance while offering a robust audit trail. 

Knowledge-based authentication and database-focused solutions also struggle to match the sophistication of modern-day fraud, for which a multi-layered approach to verification via a platform like ID-Pal is needed. The regtech’s official entrance into the US market comes less than a year after its successful launch in the UK and a Series A funding round. 

Today, UK businesses now account for over 30% of ID-Pal’s revenue and, following continued market traction there, 15% of their revenue is now from the US.

 “2022 was a landmark year for ID-Pal,” said Colum Lyons, CEO and founder of ID-Pal. “In just nine months we launched in the UK, secured Series A funding, and, with the support of Enterprise Ireland, our US and European investors, into the US.” 

Given how compliance requirements can change and combined with the ever-increasing sophistication of fraud, ID-Pal is built to innovate and optimise easily to the changing demands of the landscape. 

“The standard of security, fast deployment and digital transformation we provide organisations sets us apart. We work with industry leaders from across 30 sectors, which is evidence that our technology-first approach to identity verification makes it simple, secure, and convenient for any organisation.”

In 2023, ID-Pal also joined the CyberTech100, having already made the RegTech100 for 2023 and AIFinTech 100 in 2022. 

“These achievements prove that the mission is valid and our strategy for growth and international expansion is delivering in the right way for us.” 

Karen Cohalan, Department Manager for Fintech, Financial & Business Services at Enterprise Ireland, welcomed ID-Pal’s launch in the US market. 

Karen said: “Supporting Irish-owned companies to achieve greater scale and expand their global footprint is an ongoing priority for Enterprise Ireland. Enterprise Ireland looks forward to working with the ID-Pal team to continue to support their growth ambitions as they expand their customer base in the US whilst continuing to create jobs here in Ireland.”

Last October, ID-Pal was awarded the Best Know Your Customer Solution at the RegTech Insight Awards USA 2023, which commend exemplary providers of regulatory technology solutions who are innovatively tackling the complexities of compliance within the North American financial services industry. ID-Pal's victory highlights its significant contributions to the RegTech sector and is a testament to the efficacy of their identity verification technology, which ensures compliance without compromising on customer experience. 

Commenting on the award, ID-Pal Chief Business Officer James O'Toole said: “We are honoured to have won the Best KYC category at the RegTech Insight Awards USA, and it serves as a testament to the hard work and dedication of our entire team. ID-Pal is committed to driving innovation in the RegTech sector, particularly in KYC compliance, and helping businesses succeed in an ever-changing regulatory landscape. We are grateful to our clients and partners for their trust in us.” 

Angela Wilbraham, CEO at A-Team Group, and host of the 3rd annual RegTech Insight Awards USA 2023, commented: “These awards recognise companies providing RegTech solutions that have successfully improved firms' ability to respond to evolving and ever more complex regulatory requirements across the global financial services industry. Our congratulations go to ID-Pal for winning Best Know Your Customer Solution.”