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Here are the main industry highlights of this week impacting identity and fraud, cybersecurity, trust and safety, financial crimes compliance, and privacy and consent management.
🪄Innovation and New Technology Developments
Plaid Launches Protect to Combat Early-Stage Fraud with Real-Time Intelligence and Adaptive Risk Scoring
Plaid has launched Plaid Protect, a real-time fraud intelligence system powered by its new machine learning engine, the Trust Index (Ti). Using over 10,000 high-signal attributes from a network of a billion devices and thousands of apps, it detects fraud early by analyzing cross-app behavior, device history, and account risk signals. It targets threats like synthetic identities and account takeovers. Features include real-time risk scoring, a semantic search dashboard for investigations, and adaptive onboarding that evolves as users share more data. Currently in beta, Plaid Protect aims to improve fraud detection while maximizing user conversion with smarter, risk-based onboarding. (Source)
đź’° Investments and Partnerships
Genpact Acquires XponentL Data to Accelerate AI-First Strategy and Strengthen Industry Solutions
Genpact has acquired XponentL Data, a data products and AI solutions company, to enhance its capabilities in data strategy, engineering, and AI transformation. The acquisition supports Genpact’s shift toward AI-first services, leveraging XponentL’s expertise and partnerships with platforms like Databricks, AWS, and Microsoft. This move aims to strengthen Genpact’s offerings in sectors such as Life Sciences and Healthcare and bolster initiatives like the Genpact AI Gigafactory. XponentL’s team, including CEO Tom Johnstone, will join Genpact, with the acquisition expected to accelerate innovation and help clients scale AI solutions more effectively. Financial terms were not disclosed. (Source)
Philippines Invests Additional PHP1.3B to Expand Biometric E-Gates and Modernize Border Control
The Philippines has allocated an additional PHP1.347B ($24.1M) to expand its biometric e-gates program at major airports and seaports, following PHP1.976B ($35.4M) in Phase 1. The goal is to replace half of the manual immigration counters with facial recognition to reduce congestion and boost security. E-gates are active at Manila’s NAIA, now managed by the New NAIA Infrastructure Corp. (NNIC), a consortium including San Miguel Holdings and Incheon International Airport Corp. The broader modernization includes partnerships with Collins Aerospace and a pilot digital ID project with UltraPass and the Department of Transportation. Full deployment across 11 hubs is expected by December 15, 2025. (Source)
Multiverse Raises €189M to Scale Quantum-Inspired AI That Shrinks LLMs by 95%
Spanish startup Multiverse Computing has raised €189M ($215M) in Series B funding to scale CompactifAI, its quantum-inspired AI compression tool. CompactifAI reduces the size of large language models (LLMs) by up to 95% without performance loss, cutting inference time and costs by up to 80%. The tool supports compressed versions of open-source models like Llama and Mistral, optimized for deployment across cloud, mobile, and edge devices like Raspberry Pi. Founded by Román Orús and Enrique Lizaso Olmos, Multiverse holds a strong patent portfolio and serves clients such as Bosch and the Bank of Canada. The round, led by Bullhound Capital, brings total funding to around $250M. (Source)
Lemonway Acquires PayGreen to Strengthen E-commerce Presence and Bolster European Payment Capabilities
Lemonway, a European payment institution specializing in marketplaces and crowdfunding platforms, has acquired French e-commerce payments firm PayGreen to expand its footprint in the e-commerce sector. The deal, whose financial terms were not disclosed, adds a client base, €20 million in transaction volume, and a team of 11- including PayGreen’s co-founders who will lead Lemonway’s e-commerce division. PayGreen brings niche capabilities such as meal vouchers, carbon calculators, and donation features. The move aligns with Lemonway’s goal of becoming a sovereign European payment champion, and enhances its offerings for e-merchants across Europe. (Source)
23andMe Faces Scrutiny as 1.9 Million Users Delete Data Amid Bankruptcy and Controversial Sale to Regeneron
About 1.9 million 23andMe users, approximately 15% of its customer base, have requested deletion of their genetic data following the company’s bankruptcy filing in March. Interim CEO Joseph Selsavage disclosed the figure during a House Oversight Committee hearing, where lawmakers expressed concern over the privacy implications of the company’s sale to Regeneron for $256 million. Regeneron, which plans to use the data for drug discovery, has pledged to uphold 23andMe’s existing privacy policies. The sale is under legal scrutiny, with over two dozen states suing to prevent the transfer of genetic data without explicit customer consent. The controversy follows a major data breach in 2024 that exposed sensitive data of nearly 7 million users. (Source)
Liongard Acquires Cyio to Strengthen Cybersecurity Capabilities for MSPs
Liongard has acquired Darklight’s Cyio platform to enhance its cybersecurity offerings for managed service providers (MSPs). The integration brings AI-powered vulnerability prioritization into Liongard’s attack surface management platform, allowing MSPs to focus on the most critical threats based on real-time intelligence and business impact. Cyio’s capabilities include always-on risk scoring, standards-aligned reporting (e.g., NIST, FedRAMP), and contextual analysis, helping partners streamline remediation, simplify compliance reporting, and reduce operational overhead. The move positions Liongard as a more comprehensive security platform provider, enabling MSPs to scale efficiently by automating threat prioritization and empowering less experienced technicians to perform complex security tasks. (Source)
OneSpan Acquires Nok Nok Labs to Expand Passwordless Authentication Capabilities
OneSpan Inc. has acquired Nok Nok Labs, a leader in FIDO passwordless authentication, to expand its capabilities in secure, flexible authentication solutions. The acquisition enhances OneSpan’s portfolio, combining its FIDO2 security keys with Nok Nok’s software to offer a broad range of authentication methods for both cloud and on-premises environments. CEO Victor Limongelli emphasized the strategic shift toward passwordless authentication and greater customer choice. Nok Nok, a founding member of the FIDO Alliance, brings deep expertise and a global customer base, strengthening OneSpan’s position in regulatory-compliant, scalable solutions. The integration aims to deliver a unified authentication platform that benefits banking and enterprise customers worldwide. (Source)
MIND Raises $30M to Redefine AI-Native Data Loss Prevention for the Enterprise
MIND, an AI-native data loss prevention (DLP) platform, has raised $30M in Series A funding, led by Paladin Capital Group and Crosspoint Capital Partners, bringing total funding to over $40M. In just seven months post-stealth, MIND achieved 500% customer growth and gained adoption among Fortune 1000 companies, securing sensitive data across hundreds of thousands of endpoints. Its platform integrates real-time data security posture and AI-driven threat prevention, reducing false positives and automating response. Addressing challenges like unstructured data and insider risk, MIND stands out in a market burdened by legacy DLP tools. The company was also recognized at RSAC 2025. (Source)
Circle Surges in $1.05B IPO as Investor Demand Boosts Stablecoin Leader’s Market Debut
Circle Internet Group, issuer of the USDC stablecoin, priced its IPO at $31 per share, above expectations, raising $1.05 billion and reaching a $6.8 billion valuation. Strong investor demand led to an expanded share offering and gave underwriters the option to sell more. As one of the most prominent crypto firms to go public, Circle focuses solely on stablecoins, with USDC as the market’s second-largest. The IPO comes amid renewed enthusiasm for tech and crypto listings, driven by favorable regulatory signals under the Trump administration and rising institutional interest in stablecoins. With a strong compliance record, Circle is well positioned as a trusted leader in a sector poised for exponential growth. (Source)
⚖️ Policy and Regulatory
Apple Expands Digital ID in Wallet for TSA Use but Not for International Travel
Apple has announced that a TSA-approved version of its Digital ID will be available in Apple Wallet this fall, allowing iPhone users to use it for domestic travel at supported TSA checkpoints. However, contrary to some online speculation, the Digital ID will not serve as a replacement for a physical passport, especially for international travel. The rollout reflects a broader trend toward the digitalization of government IDs, though it raises privacy concerns. Users are cautioned against handing over unlocked phones to TSA officers, as doing so could be interpreted as consent for a search. The feature will also enable autofill identity verification in airline apps, providing convenience but also necessitating vigilance regarding data privacy. (Source)
Trump Executive Order Reshapes U.S. Cybersecurity by Cutting Digital ID Programs and Softening Vendor Compliance
President Trump has signed a sweeping Executive Order overhauling U.S. cybersecurity policy, dismantling key Biden-era initiatives. The directive eliminates federal support for digital identity programs, citing concerns over potential entitlement fraud, despite no mandates for digital ID issuance to immigrants. It also rescinds secure software development attestations, favoring a public-private approach aligned with NIST’s framework. AI cybersecurity efforts are refocused on managing vulnerabilities rather than advancing secure AI research, and the urgency in adopting post-quantum cryptography is delayed. While standards for IoT devices and encryption modernization are retained, critics argue the order politicizes cybersecurity by linking it to immigration and election policies, and by removing tools like cyber sanctions for domestic threats. The administration frames the shift as a move toward technical neutrality, though experts warn it may weaken U.S. cyber defenses amid escalating threats. (Source)
Liberia Seeks Funding to Expand National ID Amid High Demand and Low Enrollment
Liberia’s National Identification Registry (NIR) is facing significant financial hurdles in expanding national ID coverage, despite strong political support and public interest. Executive Director Andrew Peters emphasized that while citizens are eager to enroll, the cost of registration remains a key barrier, prompting the government to explore funding options to make the process free. Currently, only 14 percent of Liberia’s five million citizens are enrolled, and efforts are underway—including a presidential executive order mandating ID enrollment and a UNICEF-supported child registration pilot—to boost adoption. The NIR aims to secure further international partnerships to meet its 2030 target under UN SDG 16.9 and accelerate digital transformation efforts launched with recent World Bank funding. (Source)
U.S. Department of Education Introduces Live ID Verification for FAFSA Applicants Amid Fraud Surge
The U.S. Department of Education is implementing enhanced identity verification protocols for federal student aid applicants starting summer and fall 2025 to curb rising identity fraud. In response to a spike in fraudulent FAFSA submissions—approximately 150,000 recently flagged—the department will mandate temporary identity validation for select applicants this summer, followed by permanent checks for all applicants in the fall. These checks will require valid government-issued photo IDs and must be conducted live, either in person or via video. This move addresses vulnerabilities worsened by remote learning and relaxed verification during the pandemic, with notable fraud cases in states like California and Minnesota, including a $7.4 million loss at the College of Southern Nevada. (Source)
EU Launches International Strategy to Expand EUDI Wallet and Digital Identity Standards Globally
The European Union has introduced its International Digital Strategy to extend the influence of its European Digital Identity (EUDI) Wallet and associated trust services globally. The strategy emphasizes the adoption of EU-based digital identity frameworks as legal and interoperable digital infrastructure in partner nations. It aligns with the EU’s broader goals of enhancing technological sovereignty, promoting security, and setting global digital governance standards. The plan includes collaboration with neighboring and strategic countries such as Ukraine, Moldova, India, and Brazil, focusing on interoperability, e-signatures, and digital public infrastructure. The EU also aims to promote its European Interoperability Framework to facilitate cross-border digital integration. (Source)
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