Press Release
– Both ID-Pal’s customer base and team size double in 2022
– Driven by increased demand for the award-winning identity verification solution with both enterprises and SMEs, to prevent fraud at source
Dublin, 20th December 2022 — ID-Pal the global identity verification provider, today reports a year of outstanding growth, that included a €7m Series A funding round, following its official launch in the UK market, and a doubling of its customer base and global team in size. ID-Pal’s milestone achievements signal the clear need for its unique market offering.
Dublin-based ID-Pal’s impressive expansion has been driven by increased global demand for its market-leading identity verification solution. After a strategic entrance into the UK market in May, UK businesses now account for over 30% of ID-Pal’s revenue. To further enhance its offering to the UK market, ID-Pal’s technology achieved certification as an Identity Service Provider (IDSP) from the UK Home Office, to conduct digital Right to Work and Right to Rent checks.
In further recognition of the platform’s industry-wide appeal, 2022 was bookended by significant wins for the identity verification provider: March saw ID-Pal win the prestigious Irish Times IT & Fintech Innovation Award and, in November, ranked 6th in the Deloitte Technology Fast 50 Awards, which recognises the 50 fastest growing technology companies in Ireland based on revenue growth.
Further cementing its place as a market-leader, ID-Pal joined the renowned AIFintech100 for 2022 and the RegTech100 for 2023. These two lists select the world’s most innovative companies developing AI-driven and regulatory technology solutions across the financial services sector.
Global expansion: Ireland, the UK and beyond
Following five years of explosive growth, ID-Pal’s impressive market-offering for both SMEs and enterprise clients has led to its customer base increasing 100% globally in the last 12 months. ID-Pal also reports a record volume of identities verified in 2022, with this figure tripling in one year. This clear commercial momentum has been supported by a host of strategic partnerships with industry-leaders including HID Global, RiskScreen, Sherpa Technologies, and Vesta. ID-Pal now includes amongst its clients One4all, Elavon, Trident Trust, BDO, American National University and J.P. Morgan-acquired Global Shares.
The platform combines a unique blend of biometric, document and database checks to verify identities and addresses in real-time. ID-Pal offers SMEs a branded, customer-facing app via an off-the-shelf solution. Also available as an API/SDK, the platform is built to be compliant-by-design and is also completely customisable, with the ability to seamlessly verify identities and addresses, in any language, across 200 countries and jurisdictions. By year-end, ID-Pal will be serving organisations across 32 different sectors, due to its unique ability to deliver Anti-Money Laundering (AML) and Know your Customer (KYC) compliance as a standalone end-to-end solution or integrated into existing processes.
Team size doubles to focus on ongoing customer satisfaction as client base grows
The global ID-Pal team, appointed to deliver its exceptional standards of security, convenience and user experience, also grew by 100% in 2022, with 20% of its workforce now based in the UK. To deliver on its ambitious plans, ID-Pal’s Data Protection Officer, Sinead McDonald, joined the company’s Board of Directors in September.
ID-Pal’s growing workforce fosters a culture of excellence in identity verification, as evident in its five-star rating from customers on Google and recording an enviable 95% Customer Satisfaction Score.
On ID-Pal’s year of outstanding growth, Colum Lyons, Founder and CEO of ID-Pal, shares,
“What began as a small team in Dublin, dedicated to giving organisations globally an easy way to verify identities and addresses, has grown into an international workforce, supporting SMEs and enterprises in 32 sectors with their compliance requirements.
“This year we saw our strategic planning come to fruition: with our Series A and official launch in the UK. The success of these milestones is evident as we now record over 30% of our revenue to be from the UK and we also doubled our global team to meet the demand there. We look forward to superseding this year’s success in 2023 as we continue to expand into additional markets. As we evolve, our ethos will remain unchanged: to always offer an identity verification solution that is simple, secure and convenient, for any size business to prevent fraud at source.”
About ID-Pal
Founded in 2016, ID-Pal is an award-winning ISO 27001 certified identity verification solution that enables businesses to verify identities and addresses in real-time. Offering a unique blend of industry-leading biometric, document and database checks to streamline AML and KYC in one GDPR compliant solution, it is available out-of-the-box, as an API/SDK and as a Salesforce AppExchange integration. ID-Pal’s technology is also certified for the UK Digital Identity & Attributes Trust Framework (UKDIATF). Headquartered in Dublin and backed by Enterprise Ireland, ID-Pal offers global identity verification coverage of more than 6000 identity documents and 200 verified address data sources to enterprise clients and SMEs across 200 countries and jurisdictions.
Ranked sixth in the 2022 Deloitte Technology Fast 50 Awards, ID-Pal is also a member of the global AIFintech100 2022 and listed in the RegTech100 2023. ID-Pal is a previous winner of Best Customer Facing Experience in the PAY360 Awards and the IT & Fintech Irish Times Innovation Award in 2022.
Media contact
Jemima Wright
Senior Account Manager
Rostrum
j.wright@rostrum.agency
