Daon Expands Presence in Japan as part of ELEMENTS' acquisition of Polarify

ELEMENTS Inc., Japan, and Daon Inc. announce a long-term agreement to collaborate on identity assurance solutions

TOKYO, Jan. 16, 2025 /PRNewswire/ -- Daon®, the Digital Identity Trust company, has announced a strategic partnership with ELEMENTS, Inc., Japan's market leader in image recognition services and a parent company of Liquid,Inc., to deliver advanced identity assurance technology in Japan. 

ELEMENTS has acquired the majority ownership in Polarify, a Joint Venture between SMFG, Daon and NTT Data that provides eKYC and Authentication services in Japan.  Through this acquisition, ELEMENTS will reach over 550 organizations with identity authentications exceeding 120 million transactions and will secure the No.1 market share of identity authentication solutions in Japan.

As part of this, ELEMENTS has formed a strategic partnership with Daon, a global leader in identity assurance technology, building on Daon's role as Polarify's core identity technology provider. This collaboration ensures a seamless transition for existing Polarify customers and creates new opportunities in identity authentication and fraud prevention. Together, ELEMENTS and Daon are poised to provide businesses with advanced tools to address evolving identity security challenges and enhance customer identity experiences.

As part of the collaboration, Liquid, Inc., a wholly owned subsidiary of ELEMENTS specializing in online identity verification services, plans to work closely with Daon to develop and promote authentication services in Japan. In addition, the partnership includes the facility to leverage the Daon TrustX identity orchestration and workflow SAAS platform to assist ELEMENTS and Liquid expand its business.

"Our partnership with ELEMENTS allows Daon to expand the reach of our technology into one of the world's most dynamic markets," said Tom Grissen, CEO of Daon. "ELEMENTS and Daon can transform how businesses in Japan approach customer authentication, providing them the opportunity to stay ahead of emerging threats and set the stage for further innovation in identity technology."

"Merging ELEMENTS' deep expertise in image recognition technology with Daon's proven identity assurance solutions will unlock new opportunities in identity authentication and fraud prevention," said Hiroki Hasegawa, CEO of ELEMENTS. "Working with Daon, we are well-positioned to equip businesses in Japan and overseas with the advanced tools needed to navigate evolving identity security challenges. "

For more information about Daon's identity solutions and this partnership, visit daon.com.

About Daon
Daon, the Digital Identity Trust company, enables market-leading organizations worldwide to easily and accurately proof, verify, authenticate, and secure customer identities at every trust point across the entire customer lifecycle. With industry-leading identity verification and biometric authentication technologies at its core, Daon's technology ensures that customer identities are accurately verified, safely secured, and easily recovered. By mitigating fraud, reducing friction, and ensuring regulatory compliance, Daon helps businesses deliver a seamless customer experience, increase customer satisfaction, and reduce costs. Daon delivers these solutions through its AI and ML-powered platforms, available for on-premises or SaaS deployment. Leading companies in financial services, telco, travel & hospitality, and other industries choose Daon to secure and process hundreds of millions of digital identity transactions daily. Learn more at www.daon.com.

About ELEMENTS and Liquid

ELEMENTS was established in 2013 and aims to solve social issues through technologies such as biometric authentication, image recognition, and generative AI. The company's main business at present is "LIQUID eKYC" a service provided by Liquid from 2019 that allows customers to complete identity verification required for account registration and account opening online. It offers a system that takes a photo of the user's ID document, such as a driver's license or My number card, or reads the IC chip, and then compares it with the user's selfie photo, as well as a system that uses the public certification for Individuals (JPKI / smartphone JPKI).
For more information, visit: https://elementsinc.jp/global/  https://liquidinc.asia/global/.