Entrust Acquires Onfido for AI Identity Verification Technology

Entrust, a leading name in trusted payments and data security, completes the acquisition of Oxford-based student startup Onfido for its AI identity verification technology, expanding its security solutions portfolio. Onfido's digital identity verification solutions, powered by AI and machine learning, will be integrated across Entrust's offerings, bolstering its fraud detection capabilities and ensuring compliance with international regulations.

The acquisition marks a significant return on investment for the University of Oxford, highlighting the success of its entrepreneurial programs in fostering tech innovation. Onfido's Real Identity Platform enables businesses to customize verification methods, combining biometric verification, document checks, and passive fraud signals to mitigate risk and meet regulatory requirements.

Former Onfido CEO Husayn Kassai acknowledges Oxford University's support as pivotal in the company's journey, emphasizing the impact of academic institutions in fostering innovation. Professor Chas Bountra of the University of Oxford praises Onfido's success as a testament to the university's innovation ecosystem, inspiring future entrepreneurs and investors.

Oxford University Innovation CEO Mairi Gibbs expresses pride in Onfido's growth and pledges to reinvest returns into supporting new startups and entrepreneurs. Dean Soumitra Dutta of Oxford University's Saïd Business School highlights Onfido's global impact and the role of academic funding in nurturing startup success, driving innovation and economic growth.