ID-Pal, a leading identity verification provider, has formally announced that it is entering the UK market.

Led by Colum Lyons, the Dublin company says it has customers in Ireland, the US, EU and UK. Current clients include large enterprises such as Grant Thornton and Zurich International, as well as SMEs such as UK Adviser and Trust My Travel.

ID-Pal’s customisable solution for identity and address verification is available off-the-shelf or as an API/SDK.

The company says its product can be configured for any jurisdiction or legal requirement in any language in just minutes.

Colum Lyons commented: “The way in which identity verification has been done historically is just not sustainable in our digital-first mobile-ready world.

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“Verifying identity documents manually is inefficient and insecure, and the risk of data flight and simple human error can make businesses vulnerable to fraud.

“Our unique blend of ID checks, all powered by a completely technology-first process, means multi-layered verification takes place on any ID document in real time. Using AI and machine-learning offers greater accuracy in correctly classifying a document and reduces the margin for error and need for manual intervention.”

Established in 2016, ID Pal Ltd’s start-up losses amounted to €2.5m in December 2020 after the company booked a loss of €770,000 in 2020. The company had 14 people on the payroll.

Equity capital raised at end of 2020 amounted to €2.5m, and the company ended the year with balance sheet cash of €840,000 and total liabilities of €860,000.

The company’s most recent funding round was in April 2021, when €370,000 was raised from five private investors.