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Yinda Infocomm spending €1.5 million to beef up its digital identity management capabilities

The Edge Singapore
The Edge Singapore9/12/2021 09:21 PM GMT+08  • 2 min read
Yinda Infocomm spending €1.5 million to beef up its digital identity management capabilities
In addition, Yinda will give GenesisPro a convertible loan worth some €600,000.
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Yinda Infocomm has entered into a definitive agreement to spend €1.5 million ($2.38 million) to beef up its digital identity management capabilities.

The company will do so by taking a 70% stake in an entity called GenesisPro, that is in turned used to hold a mixed portfolio of intellectual property and software bought from Austria-based The Institute of Machine Learning.

The founders of IML are Adam Hegedüs and Roland Trimmel and the IP and software that are part of this transaction are used in facial liveness detection, age classification and know-your-customer checks.

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