Pictured: Parick Horgan, Managing Director of Horizon8 and co-creator of valid8Me
Business & Finance highlights an up-and-coming start-up making waves in its industry. In this article we look at valid8Me, from Horizon8, a digital identity platform and mobile application created for both businesses and consumers. It transforms customer onboarding and ongoing customer due diligence activities through the use of a digital identity vault which puts customers in control of their data, allowing them to securely store, share and manage their key sensitive documentation with convenience.
What is it?
valid8Me, from Horizon8, is a game-changing digital identity platform and mobile application, created for both businesses and consumers. It transforms customer onboarding and ongoing customer due diligence activities through the use of a digital identity vault which puts customers in control of their data, allowing them to securely store, share and manage their key sensitive documentation with convenience.
valid8Me solves the document sourcing and KYC challenge for regulated businesses of all sizes that need to comply with AML regulations, whilst reducing money laundering risk through the application of advanced biometric and document forensics checks. valid8Me is a universal product working for businesses across multiple industries.
Highlights of valid8Me’s value proposition include: Reducing customer onboarding times by up to 90% and annual savings of up to 50% for AML related processes. In addition to that, valid8Me significantly reduces GDPR risks and overheads for businesses by not having to store local copies of customers’ sensitive documentation whilst also combating financial crime through the use of advanced biometric and document forensics technology.
Who’s behind it?
Horizon8 Ireland was established in 2019 as the European division of Horizon8 US, a global technology services provider with blue-chip clients such as StateStreet, Medtronic and Nike. Horizon8 Ireland quickly pivoted towards developing a new line of innovative financial crime products after identifying a significant market for a universal Know-Your-Customer (KYC) and Customer Due Diligence (CDD) SaaS product. valid8Me was officially launched in January 2021 and Horizon8 has already secured 7 new clients and has a strong pipeline of prospective client companies and distribution partners. Patrick Horgan (Managing Director), Shane O’ Neill (Chief Strategy Officer) and Ciaran Corkery (Chief Product Officer) are the co-creators of valid8Me and make up the executive leadership team of Horizon8 Ireland. Karym Murphy (Managing Director) heads up the Horizon8 US business and its global operations.
How is it funded?
Horizon8 Ireland has been funded to date by its parent Horizon8 US business.
The official launch of valid8Me presents great potential. With its universal approach, privacy by design and SaaS model, the valid8Me vision is to become a de facto standard for digital identity and solve the KYC challenge for all businesses and consumers. The early adopters of the valid8Me platform span numerous sectors in Advisory, Accountancy, Funds, Legal and Real Estate including Grant Thornton, Mazars, ReganWall, BKK, James Byrne & Co, Glandore and BlackBee Investments.
Uniquely designed for multiple industry verticals and businesses of all sizes, getting traction and deep market penetration across these sectors will keep the team extremely busy with a significant pipeline of clients to work with across the Irish, UK and US markets.
Building out the team and investing in sales and marketing as well as product engineering in particular will be crucial to grow and scale the business to capitalise on what we see as an enormous market opportunity.
There is a very exciting product roadmap the team is working through whilst applying an iterative monthly release cycle to ensure new features are frequently presented to clients via the valid8Me SaaS platform.
Beyond that, there are many additional growth opportunities the team are super keen to offer clients by leveraging valid8Me to rollout further use cases and expand its KYX platform (e.g. know your supplier, recruitment onboarding, vaccine passports use cases) as well as expand the valid8Me marketplace to seamlessly connect buyers and sellers to numerous products and services.