Overview
iPiD (International Payments Identity) is a dynamic fintech company specializing in Know Your Payee (KYP) solutions aimed at enhancing fraud prevention and regulatory compliance in global payments. Established in late 2021, it operates as a privately held entity supported by venture capital, with a mission to bolster security and efficiency for financial institutions and corporations around the world.
Key Offerings
iPiD provides a single global API that facilitates real-time payee validation, thereby reducing fraud and ensuring smooth cross-border payments. Key features include:
- Compliance with EU Verification of Payee (VoP) and UK Confirmation of Payee (CoP) standards.
- Reduction of transactional fraud, crucial as financial scams are projected to surpass $7.6 billion by 2028.
- Minimized transaction costs by avoiding payment errors and failures.
The platform follows a decentralized security model, avoiding data storage to maintain compliance with industry standards.
Strategic Partnerships and Innovation
iPiD is recognized for its strategic alliances and innovative solutions, including the development of an AI-powered name matching technology in collaboration with Microsoft, aimed at enhancing payee verification accuracy. Notably, iPiD's KYP solution is utilized by Careem Pay to boost payment security within its network, minimizing transaction failures and fraud.
Leadership
The leadership at iPiD is comprised of experienced professionals from the global payments domain:
- Damien Dugauquier: Co-founder and CEO, with over ten years in payments.
- Geertjan van Bochove: Co-founder, CFO & COO, with expertise in finance and operations.
- Alain Raes: Founding Partner and Chief Commercial Officer, with over three decades in business growth.
- Ivan Chong: CTO, specializing in cloud solutions, microservices, and architecture.
- Connie Ma: Operations Director, overseeing operations and HR in London.
- Adriena Lim: Growth and Brand Director, driving marketing efforts in Singapore.
Global Presence
Headquartered in Singapore, iPiD has an international presence with offices in London, New York, Dubai, Paris, Amsterdam, Brussels, Kuala Lumpur, and Mumbai, showcasing its extensive global footprint.
Financial Performance
iPiD has successfully raised $8.6 million across two funding rounds, with backing from QED Investors and Saison Capital. Its latest pre-Series A funding round raised $5.3 million, led by Monk's Hill Ventures, reflecting strong investor confidence.
Industry Recognition
The company has gained recognition as a rising fintech entity in Southeast Asia and has been highlighted among innovative startups to watch, showcasing its strong market presence.
For further insights, visit their website: [iPiD](https://ipid.tech) or connect with key executives through professional networks.
Competitive Landscape
Key Competitors
1. Stripe Connect: A major competitor offering an integrated platform for payments and financial services, widely utilized by marketplaces such as Shopify and DoorDash. It processes over $1 billion in payments across 84 platforms, boasting rapid deployment and global scalability.
2. Merge: A unified API solution simplifying service integration across HR, payroll, accounting, and ticketing systems. Established in 2020, it operates from San Francisco, New York City, and Berlin.
3. Flinks: A leader in financial data aggregation and open banking based in Montreal, Quebec, offering Canada's first real-time account funding service through Guaranteed EFT.
4. fixer.io: Provides an API for real-time foreign exchange data for 170 currencies, essential for developers needing stable financial data integration.
5. Apideck Unify: Accelerates SaaS integration development by mapping complex APIs to a common data model, preferred for quick deployment across industries.
Strategic Analysis
iPiD operates in a competitive environment where integration and API-based solutions are the standard, allowing businesses to seamlessly embed financial services. To stand out, iPiD should focus on enhancing integration capabilities and expanding its partner ecosystem. Emphasizing security and efficient payment solutions can provide a competitive edge over companies like Stripe Connect and Apideck Unify, which dominate in automation and integration.
Furthermore, leveraging relationships with investors such as Visa and tech-centric funds could accelerate iPiD's innovation and market presence in global payment facilitation, attracting niche markets prioritizing data security and seamless transactions.
