FinTech Global Names ID-Pal in CyberTech100 list for 2023

  • Digital Identity
  • 11.05.2023 10:00 am

FinTech Global has named identity verification provider ID-Pal as one of the leading innovators in its CyberTech100 for 2023, the annual list of the top 100 global CyberTech organisations improving the cyber defences of financial institutions.
The companies that make up the 2023 ranking are proven to offer technical solutions that expertly address challenges faced by financial institutions in the areas of data and communications security, cybercrime, financial fraud, identity and access management, and threat management.

Thousands of firms were vetted by FinTech Global and the final 100 selected for the CyberTech100 were chosen by a panel of analysts and industry experts. Organisations shortlisted must show not only the industry significance of the problem being solved, but also customer traction, the innovation of the solution, and potential cost savings, to be deemed a solution that financial institutions must know about.

ID-Pal is one of just two identity verification solutions selected by FinTech Global for the CyberTech100 ranking. ID-Pal is ISO 27001-certified and enables real-time identity verification, end-to-end onboarding screening and ongoing monitoring. The platform prevents fraud at the source in financial institutions globally and offers an award-winning user experience. ID-Pal is also a member of the RegTech100 2023 and was selected for the AIFinTech100 2022.

Just one year after launching in the UK, ID-Pal’s identity verification solution has experienced rapid adoption and market growth amongst financial institutions, with UK businesses now representing over 30% of revenue. Similar success is already being mirrored in the US, where ID-pal recently launched. FinTech Global’s selection of ID-Pal for the CyberTech100 further reinforces its positioning as one of the most innovative and fastest-growing Regtechs to watch.

Customers of ID-Pal are leaders across over 30 industries seeking the security and fraud prevention built into the solution, including gift cards provider Blackhawk Network (BHN), global payments company and a subsidiary of US Bancorp Elavon, and the recent J.P. Morgan-acquired Global Shares. Strategic partners include Melissa, HID Global, RiskScreen, Sherpa Technologies, Temenos, and Vesta.

On joining this year’s CyberTech100, CTO and co-founder Rob O’Farrell said: “Identity verification can be full of cyber security ‘potholes’ just waiting to trip you up.  At ID-Pal we pave those roads for organisations.  This helps companies avoid thousands of threats, years of study, and save millions in terms of the Total Cost of Ownership. We’re extremely proud of the recognition our simple approach is receiving by joining the 2023 CyberTech100 and thanks to the FinTech Global panel for selecting us for the final 100.”

ID-Pal leverages automated decisioning and smart workflows to deliver industry-leading accuracy in identity verification outcomes, all with data protection compliance built in, helping its customers quickly and securely verify identities.

Commenting on the latest CyberTech100 list, Richard Sachar, FinTech Global Director said: “As challenges such as ransomware, phishing and data breaches still plague financial institutions, there has never been a more important time for businesses to use CyberTech solutions. With the average cost of data breaches being in the millions, it is critical firms look for solutions that can guarantee their protection, particularly as the tough economic climate puts pressure on finances. This year’s CyberTech100 list arms companies with the necessary information to find the industry change-makers who are providing companies with the opportunity to be well protected against these threats.” 

Related News