Identity verification specialist IDnow is reporting a surge in revenue generated from its AI-powered, automated portfolio in 2022.
Compared to 2021, the company saw a 52% increase in revenue from its in-house automated solutions, which includes biometric selfies and video liveness checks. Its solutions are capable of verifying customers across a range of industries and use cases in a matter of minutes.
The financial services sector contributed to the largest revenue growth with 97% year-over-year (YOY) growth, followed by the telecommunications sector with 40% growth YOY, and the mobility and travel sector with 16% growth.
IDnow’s sales in automated solutions outside of France and the DACH region also more than doubled in 2022 (117% growth YOY), following the acquisition of the French identity technology company ARIADNEXT in 2021. The DACH region itself saw significant revenue growth in 2022 with a 40% YOY increase, while France produced a 54% increase in revenue from sales of IDnow’s solutions.
One of the hybrid solutions in IDnow’s portfolio, AutoIdent plus QES, contributed significantly to the company’s revenue. The all-in-one solution includes qualified electronic signature (QES) paired with remote identity verification, and it complies with Anti-Money Laundering (AML)/Combatting the Financing of Terrorism (CFT) requirements of most EU regulators.
IDnow has been certified by the Romanian Digital Authority and is currently pursuing certification from the French National Safety and Security Agency (ANSSI) for its automated IDCheck.io solution.
IDnow’s Chief Commercial Officer, Bertrand Bouteloup, emphasized that certifications like these serve to reinforce the company’s leadership across Europe. He also noted that the travel industry is looking to transform itself by offering a fully digital travel experience, and digital identity verification solutions can provide a more seamless and secure travel experience while giving businesses a competitive advantage in the market.
March 7, 2023 – by the FindBiometrics Editorial Team