Acuant

Last updated
Acuant
Type Private
Industry Identity Verification Services
Founded1999
Headquarters,
United States
Key people
Yossi Zekri, President & CEO
Stephen Maloney, EVP, Chief Revenue Officer
Services Multi-channel ID document authentication Fraud prevention
Website www.acuant.com

Acuant is an identity verification, document authentication and fraud prevention technology services provider headquartered in Los Angeles, with engineering and development centers in New Hampshire and Israel.

Contents

Products include ID capture and auto-fill software, ID authentication, biometric facial recognition, facial image matching, and CHIP/RFID reading. [1] The company's partners include start-ups, Fortune 500 and FTSE 350 organizations. [2]

Acuant's applications address regulations such as AML, KYC, and PII, and are in use by organizations in such industries as hospitality, [3] healthcare, automotive, security, and financial services. [4]

Company

Acuant was founded in 1999 in Los Angeles, California, by Danny and Iuval Hatzav, as Card Scanning Solutions, which was incorporated in 2003 and later rebranded in 2014 as Acuant. Yossi Zekri was named CEO & President in 2008.

In May 2016, Acuant acquired Assure-Tec Technologies, [5] a provider of identity document authentication and data capture solutions.

In 2017, Acuant acquired Ozone® from Mount Airy Group. [6]

In 2018, Audax Private Equity completed an investment in Acuant to support the continued growth initiatives of the company. Audax acquired a controlling interest in Acuant from Insight Venture Partners, Lightview Capital and Egis Capital Partners. [7]

In 2020, Acuant announced the acquisition of the former strategic partner IdentityMind, creator of Trusted Digital Identities. [8]

On November 18, 2021, UK-based GB Group announced it was acquiring Acuant for $736 million (£547 million). [9]

See also

Related Research Articles

Authentication Act of proving an assertion, often the identity of a computer system user

Authentication is the act of proving an assertion, such as the identity of a computer system user. In contrast with identification, the act of indicating a person or thing's identity, authentication is the process of verifying that identity. It might involve validating personal identity documents, verifying the authenticity of a website with a digital certificate, determining the age of an artifact by carbon dating, or ensuring that a product or document is not counterfeit.

Biometrics are body measurements and calculations related to human characteristics. Biometric authentication is used in computer science as a form of identification and access control. It is also used to identify individuals in groups that are under surveillance.

An electronic identification ("eID") is a digital solution for proof of identity of citizens or organizations. They can be used to view to access benefits or services provided by government authorities, banks or other companies, for mobile payments, etc. Apart from online authentication and login, many electronic identity services also give users the option to sign electronic documents with a digital signature.

OpenID Open and decentralized authentication protocol standard

OpenID is an open standard and decentralized authentication protocol promoted by the non-profit OpenID Foundation. It allows users to be authenticated by cooperating sites using a third-party identity provider (IDP) service, eliminating the need for webmasters to provide their own ad hoc login systems, and allowing users to log into multiple unrelated websites without having to have a separate identity and password for each. Users create accounts by selecting an OpenID identity provider, and then use those accounts to sign onto any website that accepts OpenID authentication. Several large organizations either issue or accept OpenIDs on their websites.

HID Global American manufacturer

HID Global is an American manufacturer of secure identity products. The company is an independent brand of Assa Abloy, a Swedish door and access control conglomerate. Björn Lidefelt was appointed CEO on 27 January 2020. Björn holds an MSc in Industrial Engineering and Management from the University of Linköping, Sweden. He succeeded Stefan Widing, who led HID Global for over four years.

Gemalto International digital security company

Gemalto was an international digital security company providing software applications, secure personal devices such as smart cards and tokens, and managed services. Formed in June 2006 by the merger of two companies, Axalto and Gemplus International. Gemalto N.V.'s revenue in 2018 was €2.969 billion.

Electronic authentication is the process of establishing confidence in user identities electronically presented to an information system. Digital authentication, or e-authentication, may be used synonymously when referring to the authentication process that confirms or certifies a person's identity and works. When used in conjunction with an electronic signature, it can provide evidence of whether data received has been tampered with after being signed by its original sender. Electronic authentication can reduce the risk of fraud and identity theft by verifying that a person is who they say they are when performing transactions online.

Entrust

Entrust Corp., formerly Entrust Datacard, provides financial institutions, national governments, corporate enterprises and other organizations with technologies to establish trusted identities and conduct highly secure transactions. Examples of the company's diverse offerings include software and hardware used to issue financial cards, produce e-passports; authenticate users looking to access secure networks or conduct financial transactions; provide trusted certificates for websites, mobile credentials, and connected devices; and hardware security modules and software for secure encryption and key management solutions. The privately-held company is based in Shakopee, Minnesota and employs more than 2,500 people globally.

Daon is an international biometrics and identity assurance software company founded in 1999 by Irish entrepreneur Dermot Desmond. The name, Daon, was chosen because it stems from the Celtic word for human being, duine daonna. Daon is headquartered just miles outside of Washington, DC in Fairfax, VA. Daon also has major operations in Dublin, located in the International Financial Services Center (IFSC). It has an additional office in Canberra, Australia.

Ghana Card

The Ghana Card is a national Identity card that is issued by the Ghanaian authorities to Ghanaian citizens – both resident and non-resident, and legally and permanently resident foreign nationals. It is proof of identity, citizenship and residence of the holder. The current version is in ID1 format and biometric.

Biometrics refers to the automated recognition of individuals based on their biological and behavioral characteristics, not to be confused with statistical biometrics; which is used to analyse data in the biological sciences. Biometrics for the purposes of identification may involve DNA matching, facial recognition, fingerprints, retina and iris scanning, voice analysis, handwriting, gait, and even body odor.

IDEMIA

IDEMIA is a multinational technology company headquartered in Courbevoie, France. It provides identity-related security services, and sells facial recognition and other biometric identification products and software to private companies and governments.

GB Group (UK) Identity verification software company

GBG is an identity verification, location intelligence and fraud prevention company. GBG offers software and data that help organizations validate and verify the identity and location of their customers. GBG products are built on data obtained from over 200 global partners. GBG focuses on innovative technology for location intelligence, fraud detection and identity verification. GBG can verify the identity of 4.4 billion people globally.

EyeVerify

EyeVerify, Inc. is a biometric security technology company based in Kansas City, Missouri owned by Ant Group. Its chief product, Eyeprint ID, provides verification using eye veins and other micro-features in and around the eye. Images of the human eye are used to authenticate mobile device users. EyeVerify licenses its software for use in mobile banking applications, such as those offered by Tangerine Bank, NCR/Digital Insight and Wells Fargo.

ID.me American online identity network that allows people to prove their legal identity online

ID.me is an American online identity network company that allows people to prove their legal identity online. Their users can use that digital credential to access government services, healthcare logins, or discounts from retail brands. ID.me is based in McLean, Virginia.

HelpSystems, LLC is an American information technology and software company based in Eden Prairie, Minnesota, working in the areas of systems and network management, business intelligence, security and compliance, for IBM i, Unix, Linux and Windows environments. The company is recognized as the biggest independent IBM i software vendor in the world.

Onfido is a technology company that helps businesses verify people's identities using a photo-based identity document, a selfie and artificial intelligence algorithms. It was founded in July 2012 by three former students at Oxford University: Cofounder Husayn Kassai, Cofounder Eamon Jubbawy, and Chief Architect Ruhul Amin. Onfido is headquartered in London and has over 650 employees in offices in San Francisco, Albuquerque, New York, Lisbon, Paris, Berlin, Amsterdam, Delhi, Mumbai, Bangalore and Singapore.

V-Key is a software-based digital security solutions provider. Headquartered in Singapore, it provides back-end to front-end solutions to financial institutions, mobile payment providers and governments to implement cloud-based payments, authentication for mobile banking, and secured mobile applications for user access and data protection.

Mitek Systems, Inc is a software company that specializes in digital identity verification and mobile capture built on artificial intelligence algorithms. The company's technology allows people to deposit checks via their mobile phones and open bank accounts from mobile devices. Additionally, the technology verifies people’s identity with patented algorithms that capture, classify, and authenticate photos of identity documents such as passports, ID cards, and driver's licenses. The identity of the person holding the document is confirmed through a biometric facial comparison of the photo on the document to a selfie.

Veriff is a global identity verification service company founded and headquartered in Tallinn, Estonia. The company offers services for online businesses to mitigate fraud attempts and assisting regulatory compliance. Offering protection from identity fraud and identity theft, Veriff verifies a customer's identity automatically, using an AI that analyzes a multitude of technological and behavioural indicators, including facial recognition. The service is provided to companies as an API, which has been compared to Stripe.

References

  1. "Acuant launches facial recognition solution". Planet Biometrics. 2017-02-28. Retrieved 2017-03-10.
  2. Rabinovich, Paul (2016-10-13). "Identity Proofing Is the Cornerstone of Trust in a Digital Relationship". Gartner. Retrieved 2017-03-10.
  3. Chang, Ellen (2016-09-15). "Hotels Update Security Slowly for WiFi, Electronic Door Locks". TheStreet. Retrieved 2017-03-10.
  4. Yurcan, Bryan (2016-08-12). "Don't Ditch SMS, But Change the Way You Use It". American Banker. Retrieved 2017-03-10.
  5. Seals, Tara (2016-06-06). "Acuant to Expand ID Management with AssureTec Buy". Channel Vision Magazine. Retrieved 2017-03-10.
  6. "Acuant Acquires Mount Airey Group's Suite of Ozone® Identity Solutions".
  7. "Audax Buys Controlling Interest in Acuant From Lightview, Insight and Egis". Wall Street Journal. 2018-09-24. ISSN   0099-9660 . Retrieved 2020-08-27.
  8. Acuant. "Acuant and IdentityMind Union Creates a Global Leader in Digital Identity Proofing and Verification". www.prnewswire.com. Retrieved 2020-04-29.
  9. "Proposed Acquisition and Placing". www.londonstockexchange.com. Archived from the original on 2021-12-03. Retrieved 2021-12-03.