• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Log In
  • Member Registeration
  • Account
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

FaceTec Continues Hypergrowth In Q2 Update

July 20, 2022

“Not many organizations can achieve what we have with only 35 employees. But now, we are preventing massive amounts of fraud worldwide, and it’s all because of the exceptional talent and dedication of our staff and partners. I can’t thank them enough.” – Kevin Alan Tussy, CEO, FaceTec

Live Webinar: ‘The Way Forward For Biometric Security’ Presented with SIA
ON-DEMAND: Watch FaceTec SVP Jay Meier in conversation with SIA’s Jake Parker as they trace a way forward for biometrics.

Despite having already reported successive periods of remarkable growth metrics, FaceTec continues to do impressive numbers in its update for the second quarter of 2022.

The biometric identity verification and authentication specialist saw an 81 percent year-over-year jump in revenues for Q2, carrying on what FaceTec characterized as its “third year of hypergrowth.”

Its success is further illustrated by metrics concerning the usage of its platform. FaceTec says that the quarter saw 69 million age estimates using its face biometrics technology, and that Q2 delivered a 56 percent increase in the use of its 3D Liveness Check technology.

What’s more, FaceTec noted in its update that it is “increasingly chosen to provide its free Photo ID Scan/OCR technology” for online onboarding. That is in addition to its main line of business based on the provision of 3D Liveness Detection and face matching technology – business that is being fueled through a network of 90 distribution partners.

“As always, I’d like to thank our partners and the incredible FaceTec team for their continued focus and hard work in Q2,” said FaceTec CEO Kevin Alan Tussy. “Not many organizations can achieve what we have with only 35 employees. But now, we are preventing massive amounts of fraud worldwide, and it’s all because of the exceptional talent and dedication of our staff and partners. I can’t thank them enough.”

Operational highlights from the previous quarter include FaceTec’s doubling of the reward offered through its Spoof Bounty Program, which now offers a total payout of $200,000 to hackers who manage to fool its biometric authentication system; and an enhancement of its neural network model that brought its False Accept Rate down to an impressive 1-in-125 million. The latter achievement was announced alongside a contractual relationship with the UKAS-accredited testing body A.C.C.S. Ltd., which will focus on real-world N:N testing of 3D face matching algorithms.

FaceTec also added privacy-focused ‘3D FaceVectors’ to its software platform during the quarter, which enabled users to store 3D FaceMap data in a format that does not contain any image data.

FaceTec CTO Josh Rose discussed the sophistication of the company’s technology in depth in a recent interview with FindBiometrics.

–

July 20, 2022 – by Alex Perala

Related News

  • Trust Stamp CEO Highlights ‘Alternatives to Detention’ in Q2 UpdateTrust Stamp CEO Highlights ‘Alternatives to Detention’ in Q2 Update
  • The Ascent Continues: FaceTec Q1 Update Shows Strong Start to 2023The Ascent Continues: FaceTec Q1 Update Shows Strong Start to 2023
  • FaceTec’s Revenue Growth Climbs Even Higher in Latest QuarterFaceTec’s Revenue Growth Climbs Even Higher in Latest Quarter
  • FaceTec Nearly Doubles Revenues in Q3 UpdateFaceTec Nearly Doubles Revenues in Q3 Update
  • Privacy-focused Deployment Strategy Helps to Fuel Global Growth in FaceTec Q1 UpdatePrivacy-focused Deployment Strategy Helps to Fuel Global Growth in FaceTec Q1 Update
  • Seeking to Build Trust in Metaverse and DeFi, Avarta Leverages FaceTec BiometricsSeeking to Build Trust in Metaverse and DeFi, Avarta Leverages FaceTec Biometrics

Filed Under: Features, News Tagged With: 3D facial recognition, Biometric, biometrics, face biometrics, FaceTec, facial recognition, Liveness Detection, Q2 2022, Q2 updates, quarterly updates, remote onboarding

Primary Sidebar

Identity is Shaping Air Travel – Time to Invest

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

TECH5 logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

HID logo

HID powers the trusted identities of the world’s people, places and things. Our trusted identity solutions give people convenient and secure access to physical and digital places and connect things that can be identified, verified and tracked digitally. Millions of people use HID products to navigate their everyday lives, and billions of things are connected through HID technology. https://www.hidglobal.com/

Recent Posts

  • Apple’s Getting Into Iris Recognition – Identity News Digest
  • HID eBook Shows How to Elevate the Passenger Journey With Biometrics
  • Tatra Bank Offers Innovatrics’ Selfie Onboarding System to Partners
  • Jumio Warns of Consumer ‘Overconfidence’ in Battle Against Deepfakes
  • Microsoft Settles Its Children’s Online Privacy Protection Case – Identity News Digest

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 FindBiometrics