SUMMERLIN, Nev., May 19, 2021 /PRNewswire-PRWeb/ -- Biometric cybersecurity technology provider, FaceTec, announced today that its 3D Face Authentication Software Platform experienced massive year-over-year increases in all aspects of its usage and commercial operations.
Having already achieved profitability in Q1 of 2020, FaceTec saw a 321% YoY increase in Q1 revenue for 2021 while growing margins, and saw over 1.2 million Liveness sessions conducted per day in April. With more than 65 channel partners globally, and over 15 million new user accounts onboarded every month, FaceTec has now served more than 175 million unique users over the company's seven-year history.
"Staying ahead of bad actors requires more than just theoretical defenses; we must put our security methods to the test in the real world," said Kevin Alan Tussy, CEO of FaceTec. "We take direct responsibility for how our AI performs in our customers' production applications, and have since we first deployed our 3D Face Verification Platform. Our hyper-focus on solving the problems in remote digital identity has not only produced the most secure and easy-to-use face verification available, but 18 months ago we pioneered what is still the only public biometric Spoof Bounty Program in the world. With more than 52,000 rebuffed attacks, the program has provided us with invaluable information, making our solution's security second to none."
A large and growing number of global users rely on FaceTec for secure access to their high-value accounts and privileges in banking and finance, border control, online dating, cryptocurrency, e-voting, e-commerce, national IDs, mobile driver licenses, and social networks.
"We are, of course, thrilled to experience this level of growth in our business, but we are also witnessing increased reliance on our software in mission-critical applications. Governments, large financial institutions, multinational corporations with very large user bases - and a lot at stake - are embracing our advanced 3D FaceScan AI," said Jay Meier, FaceTec's SVP of North American Operations. "We'll be making numerous customer announcements over the coming months that will literally change the way remote Identity Verification is done for entire populations. FaceTec has solved the user-authentication problems that have plagued the biometrics industry for decades. As a subject matter expert who has been analyzing biometrics vendors for over 25 years, it's exciting to watch the Digital Identity landscape change right before our eyes as FaceTec powers security for more and more of the mobile ecosystems that we all rely on."
The recent FaceTec v9.1 release is one of the most important and beneficial to date. Overall, Liveness algorithm performance has a measured 800% increase over v9.0, and the UX is faster and more intuitive than ever.
"Our proprietary 3D AI provides the highest levels (1-5) of liveness detection available and can accurately match a single individual more than 600% more accurately than any 2D system," added Tussy. "FaceTec's accuracy and usability have increased substantially in the past 12 months, and the usage and successful deployments around the world prove it. We also now provide a comprehensive customer dashboard, and free 2D passive liveness checks, 1:N de-duplication, photo ID face matching and anti-spoofing, anonymous age checks, and enhanced session analysis."
FaceTec achieved elite status in the first-ever report covering Liveness and Identity Proofing Vendors from Acuity Market Intelligence (https://bit.ly/3v1oRXo).
Please note: FaceTec is not seeking outside investment.
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About FaceTec's 3D Face Verification & Authentication Platform
FaceTec's pioneering 3D Face Authentication stops fraud and identity theft for millions of users on six continents for hundreds of the world's leading organizations.
FaceTec's 3D Face Authentication Platform features:
- 100% software, for all modern smartphones, tablets, and PCs with webcams
- World-leading 3D Face Matching rate at 1-in-12.8 million FAR at less than 1% FRR
- Patented UI generates data-rich 3D FaceMaps™ from standard 2D cameras
- $100,000 Spoof Bounty Program & Levels 1&2 Certified Liveness Detection
- Unshareable, unphishable 3D FaceMaps ensure trust without creating a honeypot
- IDV dashboard with integrated 1-to-N de-duplication & fraudulent user lists
- Highly accurate 1-in-500,000 FAR 3D FaceMap-to-2D-photo-ID matching
- Integrated anonymous age estimation and age checks
- Fast, intuitive interface with 98-99% first-time-user success rates
- Easy to integrate, customize, deploy, and manage
Developers can download the FaceTec demo apps directly from https://www.facetec.com/ for iOS, Android and any webcam-enabled browser, and the developer SDKs are available free at https://dev.facetec.com.
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About FaceTec
Founded in 2013, with team members in the United States, Brazil, Portugal, and Singapore, FaceTec is fast becoming the global standard in 3D face biometrics, powering remote identity platforms on six continents for government agencies like the U.S. Department of Homeland Security, Canadian Parliament, SmartDubai, DataPrev Brazil; and for private organizations including Mercado Libre, Nubank, BBVA, MeetGroup, Voice.com, and hundreds more.
FaceTec's internationally patented, industry-leading 3D Face Authentication software anchors the chain of trust in mobile digital identity ecosystems with the world's strongest Certified Liveness Detection, and most accurate 3D Face Matching and Age Estimation.
For more information and business inquiries, please visit http://www.FaceTec.com. For media inquiries, please contact John Wojewidka at [email protected].
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About Liveness.com
Created as an educational resource for biometrics users, vendors, analysts, media, and regulators, http://www.Liveness.com provides a comprehensive history of Presentation Attack & Camera Bypass Detection, as well as explanations of methods and means for evaluation, certification, bounty programs, and testing.
Media Contact
John Wojewidka, FaceTec, Inc., +1.415.997.9235, [email protected]
SOURCE FaceTec, Inc.
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