Veda acquires ZipID expanding its market leading identity verification services

Sydney, Australia, Wednesday 1 July 2015: Veda, the data analytics company and leading provider of credit information and analysis in Australia and New Zealand, today announced the acquisition of ZipID, a business providing face to face and mobile enabled identity verification services.

The acquisition extends Veda’s offering enabling holistic verification services for its customers. Veda currently provides electronic verification of identity through their market leading IDMatrix™ service. Leveraging Veda’s vast array of data, this service is widely relied on by financial institutions and organisations to verify customers’ identities and conduct fraud assessments online.

The inclusion of a face to face verification service extends Veda’s offering to sectors that have regulatory obligations to conduct face to face verification. Lenders, brokers, lawyers, and conveyancers in land dealings are amongst those faced with these obligations. The combined capability also enables Veda to achieve the highest level of assurance under the new Trusted Identity Proofing Guidelines issued by the Australian Government.

Nerida Caesar, CEO of Veda said “Verification of identity is increasingly integral to today’s economy.  The addition of ZipID’s face to face service complements Veda’s electronic verification and provides convenient alternatives for our business clients during their customer onboarding process. Ultimately this helps them provide a better customer experience.”

Founded in 2013 ZipID’s solutions include a ‘come to you’ verification agency service. ZipID combines purpose-built tablet technology, a scaled network of trained mobile representatives and rigorous quality assurance processes. Working closely with regulators, PEXA, peak professional bodies, and customers in the legal, conveyancing, banking and mortgage lending sectors ZipID has established an innovative safe harbour solution for these markets.

Sean Simmons, co-founder and General Manager of ZipID said “ZipID’s offering takes the friction and delay out of face to face verification. It solves a real market problem, as previously face to face verification has been cumbersome and slow for many businesses and consumers. The combined capability of ZipID and Veda provides customers with a complete identity verification service.”