By PAUL O’DONOGHUE, Senior Correspondent
DUBLIN-based identity verification firm ID-Pal has bought London-based NorthRow for an undisclosed sum.
The deal marks the Irish company’s first acquisition. NorthRow operates a know-your-business (KYB) platform.
ID-Pal said the acquisition aims to help firms respond to the growing use of AI-driven document fraud. The company said continuous monitoring is becoming more central to compliance in the UK, Europe and the United States.
Colum Lyons, founder and CEO of ID-Pal. said the deal marked a “milestone day” for the business.
“Expanding our product range from identity verification of an Individual, into verification of a business, is something our customer base has been asking for. Now we have delivered,” he said.
“By combining NorthRow’s verification solutions with our own award-winning capabilities, we can now deliver a single, perpetual risk view for both individuals and companies.”
ID-Pal and Northrow tech
ID-Pal provides AI-powered KYC (know-your-customer) and AML screening across Europe, the UK and the US. Its platform operates in more than 250 jurisdictions. It covers over 16,000 document types and uses more than 400 trusted data sources.
By adding NorthRow’s technology, ID-Pal will offer native, end-to-end KYB checks. This will let firms verify businesses at onboarding and monitor changes in company structures, directors or status. The combined platform aims to give clients a single risk view across individuals and businesses.
NorthRow’s client list includes Caxton, Equifax and Hargreaves Lansdown. They will join ID-Pal’s customers, which include the Irish Department of Justice, Blackhawk Network, Zurich International, Mercer, U.S. Bank, Elavon and a partnership with Salesforce.
ID-Pal said NorthRow’s services will continue without interruption.
We hope you enjoyed reading this article
If you would like unlimited access to AML Intelligence premium articles, newsletter delivered twice a week, access to our Global Bank Fines and Penalties database, free access to Boardroom Series events and much more, select one of our subscription options and become a subscriber!
