AutoIdent plus QES Drives IDNow Revenue Surge

Identity verification specialist IDnow is reporting a surge in revenue generated from its AI-powered, automated portfolio in 2022.

Compared to 2021, the company saw a 52% increase in revenue from its in-house automated solutions, which includes biometric selfies and video liveness checks. Its solutions are capable of verifying customers across a range of industries and use cases in a matter of minutes.

The financial services sector contributed to the largest revenue growth with 97% year-over-year (YOY) growth, followed by the telecommunications sector with 40% growth YOY, and the mobility and travel sector with 16% growth.

IDnow’s sales in automated solutions outside of France and the DACH region also more than doubled in 2022 (117% growth YOY), following the acquisition of the French identity technology company ARIADNEXT in 2021. The DACH region itself saw significant revenue growth in 2022 with a 40% YOY increase, while France produced a 54% increase in revenue from sales of IDnow’s solutions.

One of the hybrid solutions in IDnow’s portfolio, AutoIdent plus QES, contributed significantly to the company’s revenue. The all-in-one solution includes qualified electronic signature (QES) paired with remote identity verification, and it complies with Anti-Money Laundering (AML)/Combatting the Financing of Terrorism (CFT) requirements of most EU regulators.

IDnow has been certified by the Romanian Digital Authority and is currently pursuing certification from the French National Safety and Security Agency (ANSSI) for its automated IDCheck.io solution.

IDnow’s Chief Commercial Officer, Bertrand Bouteloup, emphasized that certifications like these serve to reinforce the company’s leadership across Europe. He also noted that the travel industry is looking to transform itself by offering a fully digital travel experience, and digital identity verification solutions can provide a more seamless and secure travel experience while giving businesses a competitive advantage in the market.

–

March 7, 2023 – by the FindBiometrics Editorial Team

Related News

Partners

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Decentralization of data is key for maintaining personal privacy, data protection and digital security. Yet, today’s solutions fall short. Centralized databases are prone to hacks and device-based solutions leave gaping security holes that fraudsters exploit. Anonybit goes to the root of the problem – how biometric data is stored and managed. Instead of building higher walls around centralized databases or storing biometrics on devices only to use passcodes as a fallback, we ask, what if there was no data to find? What if there was no biometric template to store? Welcome to Anonybit. The world’s first FULLY decentralized biometrics, where personal privacy meets digital security. https://anonybit.io/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

ID R&D is an innovator of biometric facial liveness, document liveness, and voice biometrics. Ranked #1 by NIST, our patented passive approach to liveness, and specialized detection of voice clones, injection attacks and deepfakes, empowers KYC and authentication systems with fast, accurate and secure biometric verification technologies. Over 140 partners in more than 70 countries are collectively processing hundreds of millions of identity checks per year. ID R&D solutions easily integrate with mobile, web, messaging, smart speakers, set-top boxes, and IoT devices. Learn more: www.idrnd.ai

Related News

Footer

Follow Us