iProov is the latest company attesting to the rising popularity of selfie-based identity solutions in its latest quarterly report.
The privately held company has revealed that in the first half of 2021, it saw a 15-fold increase in the number of end users verified using its biometric technology. With respect to its Genuine Presence Assurance technology, verifications grew at a rate of 25 percent per month.
iProov’s flagship solution is designed to ensure that an end user is in fact present during an authentication session. Genuine Presence Assurance was embraced by the Australian Taxation Office earlier this year, with the government agency integrating it into its myGovID e-services platform; and it was also integrated into Jumio’s high-profile KYX remote onboarding platform, along with its Liveness Assurance solution, to shore up its face-based identity verification capabilities.
In its H1 update, iProov also noted growth on an internal, corporate level. The company has been profitable in the first half of 2021, and increased its staff roster to 85 – a boost of 25 percent. The company also welcome former Cisco CSO Paul King to its advisory board.
The company’s growth is intertwined with that of selfie-based onboarding, which has skyrocketed in popularity over the past few years, especially in the wake of a pandemic that has accelerated digitization trends. And the growth testifies to the value of liveness detection technologies that are designed to catch the signs of fraudulent imposters during the biometric authentication process – value that is increasingly being recognized in the commercial market.
“In the first half of 2021, iProov has secured users’ identities online and protected major organizations from fraud on a vast scale across the globe,” said iProov CEO Andrew Bud. “The dramatic acceleration in the digital identity market, caused by the pandemic, has demonstrated our market leadership based on our unrivaled usability, inclusiveness and resilient security, and the extraordinary scalability of our platform.”
July 29, 2021 – by Alex Perala