FaceTec’s Remarkable Momentum Continues in Q3 Update

“Organizations must defend against generative AI deepfakes to prevent digital impersonation of their employees and end-users using trusted identity reverification with strong, Liveness-proven biometrics.” – Kevin Alan Tussy, CEO, FaceTec

FaceTec has issued its corporate update for Q3 of 2023, once again demonstrating a remarkable pace of growth.

The private company says its revenues were up 50 percent year-over-year—a particularly noteworthy achievement given that revenues were already up 96 percent year-over-year in Q3 of 2022. Use of its 3D Liveness Check system, meanwhile, has only accelerated, clocking a year-over-year uptick of 172 percent in the latest quarter.

“Our Q3 results reflect the growing need for effective Liveness-proven biometric cybersecurity,” said CEO Kevin Alan Tussy. “Organizations must defend against generative AI deepfakes to prevent digital impersonation of their employees and end-users using trusted identity reverification with strong, Liveness-proven biometrics.”

FaceTec says it has continued to expand its client base over the past quarter, directly adding 11 new commercial partners, and bringing in 10 new customers through partners in the LATAM region.

The ongoing enthusiasm for FaceTec’s facial recognition and liveness detection technologies can be attributed largely to their sophistication. This month marks the fourth anniversary of the launch of FaceTec’s Spoof Bounty Program, which now offers payouts amounting to $600,000 for successful presentation attacks; and the company says it hasn’t paid out a penny in three and a half years.

Rising awareness of the danger of demographic bias in facial recognition systems may also be in play. This is a serious concern for entities planning large-scale deployments of the technology, such as the General Services Administration, which may do real harm that entails legal liabilities if the wrong technological solutions are put in place. FaceTec’s is not one of those. In independent Presentation Attack Detection testing conducted by BixeLab, FaceTec’s solution not only obtained perfect scores for security and usability, but also showed “No Observable Errors related to race, ethnicity, gender, skin tone, or age,” and “No obvious correlation of demographic or environmental factors discovered”.

That technological sophistication is backed by a growing set of intellectual property holdings, with FaceTec having obtained two new US patents and one new Australian patent in the third quarter, bringing its total to 28.

As its business momentum carries forward, FaceTec is likely to have a stronger policy impact as well in the near term. The company says it provided guidance concerning securing digital environments for a forthcoming report from the European Union Agency for Cybersecurity (ENISA), expected to be published in the fourth quarter of this year.

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October 19, 2023 – by Alex Perala

[Updated 10/21/23 to reflect newly received information on FaceTec’s ongoing business development programs. – FindBiometrics Editorial Team]