FaceTec Sees 72% YoY Revenue Growth, 120% Usage Increase in Q1 2023
Tuesday, May 2, 2023
Hypergrowth, new features, and new partners continue global biometric cybersecurity leadership
SUMMERLIN, Nev., April 24, 2023 /PRNewswire-PRWeb/ -- FaceTec, Inc. has announced exceptional Q1 results, furthering its global leadership position with its powerful 3D Liveness, KYC, and 3D face authentication software.
Q1 2023 highlights include:
-- 72% YoY revenue growth
-- 120% YoY 3D Liveness Check usage growth
-- Over 300 million 3D Liveness Checks performed
-- 13 new customer and partner agreements signed
-- Blind User Vocal Guidance feature released
-- Three additional US and international patents issued, now totaling 23
-- 117M+ Age Estimates/Checks
-- Over 1.2 billion 3D Liveness Checks now performed annually
FaceTec's 13 new commercial agreements in the first quarter added several more integration partners to its global network.
FaceTec licenses stand-alone software that runs locally on its customers' server/cloud, unlike API-based service providers. FaceTec's privacy-protecting architecture does not require any personally identifiable information (PII) from end-users ever to be sent to FaceTec, protecting users and offering compliance with ever-evolving data privacy regulations such as BIPA, CCPA, and GDPR.
Enhanced DV/KYC functionality was added to FaceTec's SDKs in Q1, including screen detection for ID Document Spoofs and speedier Photo ID auto-capture. FaceTec's on-prem software continues to provide free Photo ID Scans for over 1,400 ID documents (demo video here), and dramatically reduces the cost of onboarding new users when compared to typical IDV services. Nearly 100 FaceTec distribution partners can provide their customers with unlimited access to free OCR for photo IDs, free barcode reading, free NFC chip scanning, free 2D Liveness checks, free 2D and 3D face matching, and free 1-to-N scans for duplicate faces. The new features provide an even greater value proposition for the already hugely successful FaceTec software suite, and there are no setup charges or support fees. The only feature that FaceTec invoices for are 3D Liveness Checks performed by end-users; nothing else.
"Our continued growth in Q1 2023 demonstrates the effectiveness of FaceTec's security in uncertain times. Not only are we consistently seeing more inbound requests for new commercial agreements, but the increased usage by our customers and partners is a clear indicator of their trust in our software and its ability to deliver the best biometric security on the market today," said Kevin Alan Tussy, FaceTec CEO.
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About FaceTec 3D Face Verification
FaceTec's pioneering 3D Face Biometrics are fast becoming the global standard in secure onboarding, KYC, and ongoing authentication, stopping ID fraud and unauthorized access for millions of users on six continents. FaceTec is relied upon by many of the world's leading organizations in high-risk/high-value environments, including IAM-IDV, financial services, mobile payments, border security, connected transportation, blockchain/cryptocurrency, online dating, and much more.
FaceTec's 3D Face Verification Platform features:
-- 100% data-sovereign, customer-run software: no user data must be sent to
FaceTec
-- World-leading 3D Face Matching rate at 1-in-125 million FAR at
less-than-1% FRR
-- Patented UI generates data-rich 3D FaceMaps(TM) from standard 2D cameras
-- $600,000 Spoof Bounty Program and Level 1&2 Certified 3D Liveness
Detection
-- Unphishable 3D FaceMaps ensure trust without creating honeypots
-- Support for all modern smartphones, tablets, and PCs with webcams
-- KYC/IDV Dashboard with integrated 1-to-N de-duplication to catch
fraudsters
-- World-leading 1-in-2 million FAR 3D FaceMap-to-2D-photo-ID matching
-- Anonymous, better-than-human 3D age estimation and 3D age checks
-- Fast, intuitive interface with 98-99% real first-time-user success rates
-- Easy to integrate, customize, deploy, and manage
Developers can download FaceTec's demo apps directly from FaceTec.com for iOS, Android, and any modern browser, and the developer SDKs are available free at dev.facetec.com.
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About FaceTec
Founded in 2013, with staff in the United States, Brazil, Portugal, Mexico, and Singapore, FaceTec is the world's leading provider of 3D Liveness and Face Verification software, allowing remote identity proofing with an extremely high level of confidence. FaceTec's patented, industry-leading Certified 3D Liveness Detection, face matching, optical character recognition, know-your-customer, and age estimation technology biometrically bind the unique, live, 3D user to their account, anchoring a secure chain of trust for mobile and web applications.
For more information and business inquiries, please visit FaceTec.com. For media inquiries, please contact John Wojewidka at JohnW@FaceTec.com.
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About Liveness.com
Liveness.com is an educational resource for biometrics users, vendors, analysts, media, and regulators, providing a comprehensive history of Level 1-5 Presentation Attack Detection, Template Tampering, and Camera Bypasses, as well as explanations of methods and means for evaluation, certification testing, and bounty programs.
Media Contact
John Wojewidka, FaceTec, Inc., 1.415.997.9235, JohnW@FaceTec.com
Twitter
SOURCE FaceTec, Inc.
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