Biometric face authentication provider iProov has enjoyed another record year of growth as global demand for online identity verification continues to soar.
iProov, which featured on our recent RegTech 50 ranking, tripled revenue in 2021. It says that during a single 10-day period, online verifications surpassed the number achieved in the whole of 2020.
In addition, iProov delivered more than a million verifications in a single day several times throughout the year.
To meet the increased demand, the company increased staff by 64% across all business areas and geographies from December 2020 through December 2021, with a focus on adding even more new ‘iProovers’ in 2022.
“iProov is giving people access to what is quickly becoming a basic human right: the ability to assert your identity online safely, securely and ubiquitously, with your privacy protected,” said Andrew Bud, founder and CEO.
“That higher mission is what drives everyone at iProov to work in such a focused and productive way. The result is a profitable year, ending with a very strong and robust cash position alongside many successful achievements across our business.”
New customers in 2021 included the Australian Taxation Office, which used it to enable Australians to set up their myGovID digital identity; Jumio, which added iProov tech to its platform to combat online crime and fraud worldwide; and itsme, Belgium’s digital identity app.
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iProov closed out the year by working with Eurostar on the launch of a trial of its contactless fast-track travel service. SmartCheck enables passengers to complete secure ticket verification and UK exit check on their mobile devices prior to travel.
Once at the station, passengers can choose to proceed through a dedicated SmartCheck lane with two face scans, eliminating the need to produce electronic or paper documentation.
“One of our values at iProov is that we ‘Achieve the Remarkable’ and we have certainly done that in 2021, in so many ways,” said Bud.
“While we celebrate our achievements, we now look forward to the infinite opportunities and growth prospects that lie ahead for iProov in 2022.”