CRIF, which offers credit, business information, outsourcing and processing services to banks, has snapped up a majority stake in digital identification technology provider Inventia.
Financial terms of the transaction were not disclosed.
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Based in Milan, Inventia offers digital onboarding, video biometric recognition and video collaboration services. All this is powered by Inventia’s software Phygital 4X.
The business was set up in 2012 by Andrea Cinelli.
Inventia’s technology is said to facilitate a physical cum digital experience, which ultimately translates to surge in online conversion rates.
Inventia is also said to make transactions more secure through the ‘ID-CERT’ technology, which monitors client identity using a two-factor biometric system.
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By GlobalDataThe tie-up with Inventia, according to CRIF, will enable the expansion of sales channels through processes including video recognition for opening current accounts.
Notably, CRIF expects Inventia’s software to enhance its Omnichannel Smart Onboarding platform for credit processes.
CRIF managing director Enrico Lodi said: “This transaction is the natural evolution of a successful partnership established in 2018 which, thanks to the synergies with Inventia, has allowed us to offer a unique end-to-end and omnichannel Phygital Onboarding solution.
“In particular, we believe that the know-how that Inventia brings will contribute to further evolving our range of solutions to ensure an increasingly agile and fast customer experience.”
“The acquisition of Inventia represents a further step toward better serving our clients, not only in Italy but also in the global markets, thanks to the creation of new synergies with our expertise, investment strength in research and development, and presence in the most advanced and competitive markets across 4 continents”.
