MUNICH--(BUSINESS WIRE)--Please replace the release sent on 27 April 2018 at 09:27 AM ET with the following corrected version due to multiple revisions.
The corrected release reads:
MISSION ACCOMPLISHED: IDNOW PATENT UPHELD WITH MINOR AMENDMENTS
IDnow, one of Europe’s leading provider of online identity verification solutions for the financial services, mobility, telecommunications and many other sectors, has taken another step in protecting key elements of its innovative online identity platform as the European Patent Office in Munich has upheld the amended patent EP 2 948 891.
The patent, which was applied for in January 2014 and was granted by the EPO on May 18, 2016, was contested by the Deutsche Post and another competitor. With 2 minor amendments suggested by IDnow, the EPO upheld the patent.
“We are delighted that our patent, with the proposed amendments, has been upheld by the EPO,” said Rupert Spiegelberg, CEO of IDnow. “We invest millions of euros developing market leading, technology in the areas of video compression, facial recognition and AI algorithms and it is important that this innovation is protected to allow us to continue to invest.”
The involved parties may appeal this decision, but this will not affect the parallel patent infringement proceedings where there will be a hearing in the Dusseldorf Higher Regional Court in June 2018 to decide whether another competitor of IDnow has violated this patent.
“I am happy about this decision, which is also important with regards to the hearing in the second instance patent infringement proceedings in June”, said Simon Michels, German & European Patent Attorney at Stellbrink & Partner.
Rupert Spiegelberg adds “Since our founding in 2014, IDnow has always been an advocate for transparent and fair competition and this ruling brings further clarity to the market. We are more committed than ever to being a driving force for innovation and will now continue to pioneer industry-leading solutions for our global customer base. We can’t wait to show you in the next months what we have built."
About IDnow GmbH
IDnow provides the world’s most advanced machine-learning technology for its Identity-as-a-Service platform that can verify in real time the identities of more than 6.3 billion people from 115 different countries. Our patent-protected video identification and e-signing solutions help our clients save money, improve customer conversion rates and streamline the onboarding process. Founded in 2014, we already count a large and fast growing team of 300, making us one of Europe’s fastest growing fintechs. IDnow was awarded “Most Successful Fintech” in 2017.
Further information available at www.idnow.eu.