New partners to the venture are Deutsche Lufthansa, Deutsche Telekom as well as Bundesdruckerei, an IT security company, as well as technology think tank Core, and location services provider Here Technologies. The new partners’ joining still requires the approval of the relevant antitrust authorities.
In May 2017, Deutsche Bank together with Mercedes-Benz maker Daimler, insurer Allianz and publisher Axel Springer teamed up to create a platform that would enable users to do their online shopping, get a flight and rent a car, all, with a single account, with no more registrations or repetitive passwords.
When they register, users are asked for their express consent to data being passed on to partner companies. Once they have consented, they can then decide which data they allow to be passed on. This feature means that verimi complies with the European Regulation on Privacy and Electronic Communications.
The name of the platform, verimi, is a combination of the words “verify” and “me”. The venture will be based in Berlin and employ over 30 people. It will go live with an online digital “master key” (single-sign-on) by the end of 2017.
At launch, the platform will cover a broad market and is not limited to fintech. The companies say it has attracted partners from the automotive, aviation, insurance, IT, media and telecommunication industries.
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