FaceTec Nearly Doubles Revenues in Q3 Update

“Our continued hypergrowth in 2022 proves our next-generation 3D approach to remote digital identity is the standard for both security and usability.” – Kevin Alan Tussy, CEO, FaceTec

FaceTec is reporting a 96 percent increase in revenues, year-over-year, for its third quarter, offering the latest illustration of its dramatic ascent. The 3D face biometrics specialist has also seen a 107.3 percent increase in the use of its 3D Liveness Check solution, and says that it now performs over 900 million 3D Liveness checks annually across a range of sectors.

FaceTec signed several new clients in Q3 including Banco BV, Atlantic Data, and Tyme Global, among others. The company says that it signed 21 new customer and partner agreements during the three-month period.

The update suggests not only that FaceTec’s momentum isn’t slowing down, but that it might actually be picking up. Year-over-year revenues have shown a greater increase for the latest quarter than they did in Q2, when FaceTec reported an 81 percent YoY sales jump.

Part of the credit must go to the growing and widespread enthusiasm for selfie-based remote identity verification solutions, a trend that has intensified in recent years. But FaceTec is known for its particularly sophisticated 3D face mapping and liveness technology, which is backed up by a $200,000 spoof bounty program.

“Our continued hypergrowth in 2022 proves our next-generation 3D approach to remote digital identity is the standard for both security and usability,” commented FaceTec CEO Kevin Alan Tussy. “We are delivering real-world security to millions of users every day and continue to increase our global footprint through an ever-growing channel partner network.”

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October 20, 2022 – by Alex Perala