Irish-based verification provider ID-Pal has announced its launch in the US to meet identity verification demands from SMEs and enterprises

The company’s expansion into the US will help financially regulated organisations balance compliance and fraud prevention with a friction-free user experience.

ID-Pal offers businesses an easy way to verify an individual’s identity through user biometrics, documents and database checks. Businesses using ID-Pal’s verification solution can customise their ID verification process according to their needs and interests.

The announcement comes less than a year after the company’s launch in the UK and following a Series A funding round.

Colum Lyons, CEO and founder of ID-Pal, said: “2022 was a landmark year for ID-Pal. In just nine months, we launched in the UK, secured Series A funding, and now, with the support of Enterprise Ireland, our US and European investors, and our strategic partners, we are officially launching into the US in 2023.”

Lyons pointed out that the “standard of security, fast deployment and digital transformation” set ID-Pal 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”, he continued.

Fraud concerns in the US

Fraud losses reached 0.04% of global card payment value in 2022, according to GlobalData’s “Trends in Payment Fraud” report, published on February 16.

With transactions gradually moving online, financial companies seek identity verification solutions to counter rising fraud cases and money laundering schemes.

The largest share of Americans (29%) is afraid of identity fraud, according to a GlobalData survey conducted in September 2022. Customers fearing theft of card details online come second at around 26%.

ID-Pal covers more than 6,000 identity documents across 200 jurisdictions and countries. Its clients now include payments and gift cards provider Blackhawk Network (bhn), compliance platform Certa and J.P. Morgan-acquired Global Shares.

In the US, the Irish-based tech company has a strategic network of partners, including Salesforce, Corporate One and Melissa.