FaceTec® Posts 120% Usage Growth and 54% Revenue Growth YoY in 2023

Consistent, consecutive quarterly gains set the stage for dominant 2024

SUMMERLIN, Nev., Jan. 25, 2024 /PRNewswire-PRWeb/ -- FaceTec, Inc. has announced extraordinary growth and achievements in 2023, and as the global standard for 3D Face Verification has expanded into the Know Your Customer (KYC) sector.

Independent NIST-Certified Lab testing proved that FaceTec's powerful 3D Liveness, Photo ID Scan, and 3D:2D Face Matching software consistently outperforms legacy 2D methods. Translating that outstanding product performance into market share gains, FaceTec signed 18 new commercial agreements with direct customers and partners in Q4.

"Our 2023 results reflect the market need for a battle-tested biometric security layer in high-risk remote access scenarios. As we face more sophisticated challenges like Generative AI Deepfakes, stopping digital impersonation of employees and end-users by requiring trusted identity verification and reverification with strong, Liveness-proven biometrics is now the rule, not the exception," said Kevin Alan Tussy, CEO of FaceTec.

2023 YoY Highlights include:

• 54% YoY revenue growth
• 120% YoY 3D Liveness usage growth
• NIST-Certified Test Lab Certifies FaceTec 3D:2D Photo ID Matching 1/100,000 FAR
• NIST-Certified Test Lab Certifies FaceTec has no bias in 3D:2D Photo ID Matching
• NIST-Certified Test Lab Certifies FaceTec has 0% APCER & BPCER of 0%
• Further fortifying its leading technology IP position, FaceTec has been issued 28 patents
• FaceTec software now performs over 2.2B 3D Liveness Checks annually (6M+ per day)

2023 Q4 Highlights include:

• 543M+ 3D Liveness Checks performed
• 189M+ Age Checks & Estimates performed
• 6.7M+ Photo ID Scans with OCR & Anti-Tampering checks performed
• Key Executive hire Andrew Hughes as VP of Global Standards (Kantara Board Chair)
• Key Executive hire Manos Mavrikos as VP of Global Customer & Partner Success
• Jay Meier, SVP of North American Operations, joins ITRC as advisor for the Alliance for Identity Resilience and chairman of the Biometric Cohort, and as vice chair of the Kantara AI-born Deepfakes Threats to Identity Proofing & Verification group

2023 milestones include:

• The four-year anniversary of FaceTec's breakthrough Spoof Bounty Program, with more than 130,000 attack attempts and no bounties paid out in the last 3.5 years
• Over 6.3 million daily 3D Liveness Checks prove FaceTec's effectiveness, usability, and near-universal compatibility with iOS, Android, and web browsers, requiring only a .3mp camera to verify or reverify a user's identity
• NIST-certified lab attempted 2,100 Level 1(A) and 2(B) attacks, and all failed to defeat FaceTec's anti-spoofing AI, with an attack presentation classification error rate (APCER) 0%, and a bona fide presentation classification error rate (BPCER) of 0%, perfect scores for security and usability, the results of which exceeds the levels required for TDIF Accreditation by the Australian Government

Unlike 3rd party biometric services, FaceTec provides software that runs locally inside each customer's private cloud, and inside their own firewall. FaceTec's privacy-protecting architecture does not require any personally identifiable information (PII) from end-users ever be sent to FaceTec, protecting user privacy and easing compliance with evolving consumer protection regulations such as BIPA, CCPA, and GDPR.

FaceTec's customer-hosted KYC software suite provides free Photo ID Scans for 1,400+ ID documents (demo video here) and dramatically reduces the cost of onboarding new users when compared to typical IDV services. All FaceTec distribution partners can provide their customers with unlimited access to free OCR for photo IDs, free barcode reading, free NFC chip scanning, free 2D Liveness checks, free 2D and 3D face matching, and free 1-to-N scans for duplicate faces. These features provide even greater value to the already hugely successful FaceTec software suite, and there are still no setup charges or support fees. FaceTec only charges for 3D Liveness Checks performed by end-users, nothing else.

About FaceTec 3D Face Verification

FaceTec's pioneering 3D Face Biometrics are fast becoming the global standard in secure onboarding, KYC, and reverification, stopping ID fraud and unauthorized access for millions of users on six continents. FaceTec is relied upon by many of the world's leading organizations in high-risk/high-value environments, including IAM-IDV, financial services, mobile payments, border security, major ecommerce, connected transportation, blockchain/cryptocurrency, online dating, and much more.

FaceTec's 3D Face Verification Platform features:

• 100% data-sovereign, customer-hosted software: no user PII is sent to FaceTec
• World-leading 3D Face Matching rate at 1-in-125 million FAR at less-than-1% FRR
• Patented UI generates data-rich 3D FaceMaps™ from standard 2D cameras
• $600,000 Spoof Bounty Program and Level 1&2 Certified 3D Liveness Detection
• Unphishable 3D FaceMaps ensure trust without creating honeypots
• Support for all modern smartphones, tablets, and PCs with webcams
• KYC/IDV Dashboard with integrated 1-to-N de-duplication to catch fraudsters
• World-leading 1-in-2 million FAR 3D FaceMap-to-2D-photo-ID matching
• Anonymous, better-than-human 3D age estimation and 3D age checks
• Fast, intuitive interface with 98-99% first-time-user success rates
• Easy to integrate, customize, deploy, and manage in your private cloud

Developers can download FaceTec's demo apps directly from FaceTec.com for iOS, Android, and any modern browser, and the developer SDKs are available free at dev.facetec.com.

About FaceTec

Founded in 2013 and headquartered in the United States with additional staff in Brazil, Portugal, UK, Mexico, and Singapore, FaceTec is the world's leading provider of 3D Liveness and Face Verification software for remote identity proofing to an extremely high level of confidence. FaceTec's patented, industry-leading NIST-Lab Certified 3D Liveness Detection, face matching, optical character recognition, know-your-customer, and age estimation technology biometrically bind the unique, live, 3D user to their account, anchoring a secure chain of trust for mobile and web applications.

For more information and business inquiries, please visit FaceTec.com. For media inquiries, please contact John Wojewidka at [email protected].

About Liveness.com

Liveness.com is an educational resource for biometrics users, vendors, analysts, media, and regulators, providing a comprehensive history of Level 1-5 Presentation Attack Detection, Template Tampering, and Camera Bypasses, as well as explanations of methods and means for evaluation, certification testing, and bounty programs.

Media Contact

John Wojewidka, FaceTec, Inc., 1.415.997.9235, [email protected], FaceTec.com

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SOURCE FaceTec, Inc.