Acquisition Provides Strong Foothold in Cloud-based Service Offerings for Compliance and Risk Management for Secure Digital Identities
Aware, Inc., a leading global provider of biometrics software products, solutions and services, announced it has acquired Fortress Identity, a pioneering provider of digital ID verification and biometric authentication. As a result of the acquisition, Aware expands its offerings around identity proofing—enhancing its onboarding, verification and authentication offerings to directly address financial compliance requirements and enable organizations to mitigate risk and curtail increasing fraud.
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The FortressID™ platform from Fortress Identity uses biometric multi-factor authentication to combine onboarding validation and due diligence for compliance and risk management. The result is a highly secure, seamless user experience that eliminates the need for passwords; enables customers to verify identification documents; and directly performs risk and due diligence checks (examples include anti-money laundering (AML), counter-t******** finance (CTF), and politically exposed persons (PEP)).
“The cloud-native FortressID™ platform is highly complementary to Aware’s current offerings. Its existing customer base will help accelerate our penetration into the most attractive markets in North America and other geographies—furthering our transformation to a SaaS business model and our ability to provide customers with biometrics on demand,” said Bob Eckel, Aware’s chief executive officer. “Furthermore, the acquisition strengthens our position in our core markets in Latin America and Europe and expands our suite of offerings to include each link in the identity value chain.”
Alessandro Chiarini of Fortress Identity said: “Since inception, Fortress Identity’s mission has been to strengthen the integration between digital ID verification and biometric authentication during onboarding so it can be leveraged in subsequent enterprise authentication. It aligns nicely with Aware’s vision of creating a world where individuals own their identity and I’m excited for the collective impact the combined suite of offerings will have.”
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