Dec 7, 2020 in Member Spotlights by DIACC

Spotlight on Acuant

1.What is the mission and vision of Acuant?

Acuant’s mission is to power trust. We do this by enabling trusted transactions that are privacy minded, putting consumers in control of their data and minimizing risk. We are mindful that a mission must be founded upon a set of core values and business principles. For Acuant this means that we take a customer centric approach that defines our purpose, guides our products and harnesses the innovation and enthusiasm of our people. Our vision is that identity is the new currency and it should belong to the individual who may choose when and how to share their personally identifying information or PII. This must be balanced with the fact that the need for strong, customer-friendly identity proofing solutions has never been greater. As PII is continuously jeopardized, Acuant serves to find a way to create trusted transactions that puts individuals at ease and in control, while simultaneously allowing businesses to address their appropriate level of risk. We see ourselves as a global player on the good side of managing identity to aid in reducing human trafficking, combatting commercial fraud and safeguarding our borders

2. Why is trustworthy digital identity critical for existing and emerging markets?

Acuant believes that digital identity will unlock both the Canadian and global markets by providing two critical ingredients:  1) an individual’s personal control over their own identity and how it is used; 2) the ability for a commercial or government to trust the transaction even when the person is not present.

3. How will digital identity transform the Canadian and global economy? How does Acuant address challenges associated with this transformation?

Acuant has been and remains committed to the proper and protected use of identity in powering transactions from boarding crossings to payments. Our Trusted Identity Platform provides identity verification, regulatory compliance and digital identity solutions leveraging AI and human assisted machine learning to deliver tools and technologies necessary for this transformation.  These omnichannel solutions provide seamless customer experiences when it comes to verifying identity, fighting fraud and establishing trust across the physical and digital world. The result is accurate risk decisioning, allowing businesses to move faster and deliver the best user experience across all channels.

4. What role does Canada have to play as a leader in this space?

We believe that Canada provides a wonderful canvas for the design and implementation of a digital identity ecosystem.  It has a robust economy, a diverse population who embrace choice, control and convenience, principles in privacy and democratic regulation and a long history of working hard to collaborate with international standards and enabling interoperability.

5. Why did Acuant join the DIACC?

Acuant joined DIACC because we believe in and want to participate in the creation of a Pan-Canadian trust framework that we envision being woven together with like frameworks from around the world.  Acuant has a long history of working with government  and commercial entities in fighting the good fight against fraud, terrorism, human trafficking, anti-money laundering with the utmost respect for privacy and  an individual’s control over their identity (which, as we state,  we view as the new currency).  We have also had a long tradition of working in Canada.

6. What else should we know about Acuant?

At Acuant we build great products and we stand behind those products. We have been in the industry for over 20 years, processing more than 4 million transactions each month in over 200 countries and territories and have created more than 400 million trusted digital identities with our patented eDNA™ technology. Our Trusted Identity Platform offers automated identity verification, regulatory compliance (AML/KYC) and digital identity solutions for the most secure environments (government services, border crossings, healthcare, banking) to consumer lifestyle apps and everything in between. We offer omnichannel deployment that allows seamless customer experiences for all to fight fraud and establish trust from any location in seconds.