AuthenticID and 1Kosmos are teaming up to provide organizations and individual users with a better identity verification experience. Both companies are looking to build on successful 2021 campaigns, in which AuthenticID reported a 186 percent year-over-year revenue increase and 1Kosmos tripled its number of new customers.
By joining forces, the two companies will be able to offer an even more comprehensive digital identity solution. AuthenticID uses a combination of face and document recognition to facilitate remote onboarding, while 1Kosmos is best known for BlockID. BlockID supports biometric and passwordless authentication, and comes with NIST, FIDO2, and iBeta certifications.
The AuthenticID and 1Kosmos offering will enable customer onboarding and ongoing authentication for clients in both the public and the private sector. The two companies believe that their process will be faster and simpler than the alternatives, and that it will reduce operational costs for organizations that will no longer need to perform as many manual document checks. The solution can also scale, and is compliant with the latest privacy regulations and Know Your Customer expectations.
“This partnership provides customers with integrated end-to-end identity verification and proofing on a global basis,” said 1Kosmos CEO Hemen Vimadalal. “The 1Kosmos and AuthenticID standards-based solution has received every major market certification for interoperability, security and reliability.”
“Our combined products now allow us to support every identity use case for the physical, digital, blockchain, and metaverse ‘Web3.0’ economies,” added AuthenticID CEO Jeff Jani. “The combined platform leverages blockchain for credential verification keeping privacy by design principle at the core.”
1Kosmos and AuthenticID are hoping that their strategic partnership will lead to new applications and use cases for their technologies. On that front, 1Kosmos has become popular as a passwordless authentication solution for employees, and is already looking to accelerate its growth through distribution partnerships with Auth0 and MorganFranklin.
February 17, 2022 – by Eric Weiss