
IDnow Completes Acquisition of and Wirecard Communication Services GmbH
In light of organic growth in digital services and the added needs related to restrictions imposed by the COVID-19 pandemic, IDnow is experiencing a sharp increase in demand for its digital verification procedures.
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CIO Applications Europe | Tuesday, September 29, 2020

In light of organic growth in digital services and the added needs related to restrictions imposed by the COVID-19 pandemic, IDnow is experiencing a sharp increase in demand for its digital verification procedures
FREMONT, CA: Leading provider of Identity Verification-as-a-Service solutions, IDnow, and Wirecard Communication Services GmbH announced the signing of an agreement to acquire Wirecard Communication Services by IDnow. The company will retain the Leipzig location preserving the majority of employees. With the help of Wirecard Communication Services, the company will focus on providing identity services and continue to build additional capacity for the healthy growth of IDnow identification processes.
"At the core of this robust service is IDnow's secure and flexible platform that holds the potential to verify more than 7 billion people from 193 countries in real time. The platform's latest addition is a product called AutoIdent, which utilises AI-powered facial recognition, computer vision and fraud detection technologies to facilitate automated identification," said Armin Bauer, Co-founder, and CTO of IDnow. The company was listed as one of the Top 10 Fintech Consulting/Services Companies for 2019 by CIO Applications Europe magazine.
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In light of organic growth in digital services and the added needs related to restrictions imposed by the COVID-19 pandemic, IDnow is experiencing a sharp increase in demand for its digital verification procedures. The acquisition is intended to enhance the service quality of IDnow products and thus further increase customers' responsiveness and cut waiting times. Wirecard was established in 2003 and is part of the Wirecard Group. Wirecard Communication Services GmbH was offered for sale in a structured investor process by way of an asset deal. IDnow and Wirecard Communication Services have already been working together successfully for more than five years.
"With the integration of Wirecard Communication Services into the IDnow Group, we are seizing the opportunity to further improve our range and service quality for our customers. We have worked in close collaboration with this division of the company for several years and greatly appreciate the qualifications and experience of its employees. We are on a strong growth path and will maintain and further develop the Leipzig location," says Andreas Bodczek, CEO of IDnow.
During a staff meeting, the insolvency administrator, attorney Dr. Nils Freudenberg from Tiefenbacher Insolvency Administration, announced the takeover to Wirecard Communications Services staff. "We are delighted to have found in IDnow a buyer who appreciates and knows our company and has such a friendly culture. Personally, I am very pleased to stay on board and work in the team at IDnow," says Amra Blume, Managing Director Wirecard Communications Services.
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