Onfido’s Revenues Up More Than 200% YoY From German-speaking Customers

Onfido has been gaining ground in German-speaking countries, on the back of overall growth globally. The selfie authentication specialist has announced that it has achieved a 212 percent year-over-year revenue increase from customers in the DACH region (Germany, Austria, and Switzerland) in the first half of 2021.

The company credits much of its success in the region to a trend of accelerated digitization, particularly in the areas of financial services, mobility, and telecommunications.

“Financial services providers in particular are requesting our solutions for their digital-first and digital-only customer strategies,” explained Onfido EMEA VP Oliver Krebs in a statement. “This accounted for a large share of growth in the DACH region in the first half of the year.”

The DACH trend highlighted by Krebs reflects a global one, with the last few years having seen an increasing number of financial services providers look to selfie-based remote identity verification solutions – like that offered by Onfido – to cope with growing activity in digital and mobile channels, particularly in the wake of the COVID-19 pandemic. It’s part of what drove Onfido’s overall revenues to increase by over 100 percent year-over-year in the company’s recent Q2 update.

“We continue to see a consumer shift from physical to digital, and companies are adapting to having to reliably verify the identity of their customers online while keeping fraudsters out and also protecting customer data as best as possible,” Krebs continued. “The latter in particular is an important criterion for German consumers.”

The company highlighted a few recent customers located in the DACH region in its H1 update, including the financial services firm Alpian and DeineTierwelt, a Germany-based pet exchange platform.

Onfido also noted that in early July, it appointed Phillip Sertel as its Regional Leader for DACH and Eastern Europe. Sertel comes to the company from a previous role with Oracle, where he served as Head of HCM Sales from June of 2018 to March of this year. Before that, he spent 15 years with FICO, and 10 years with American Management Systems.

Other important personnel developments during the first half include the promotion of former SVP of Sales Terry Denzer to the position of Chief Revenue Officer; and the hires of Matt Peake as Global Director of Public Policy and Leta Amburgey as Global VP and Head of Customer Success.

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August 25, 2021 – by Alex Perala