SUMMERLIN, Nev., Jan. 27, 2022 /PRNewswire-PRWeb/ -- FaceTec, Inc. has announced exceptional results from its efforts in 2021, furthering its global leadership in 3D face verification software.
Q4 highlights include:
- 217% YoY revenue growth
- 302% 3D Liveness Check usage growth
- 130M+ 3D Liveness Checks performed
- 45M+ Age Estimates performed
- US Patent 11,157,606 B2 granted for 3D face depth detection
- One LLP retained for defense of intellectual property
2021 highlights include:
- 246% YoY revenue growth
- 268% YoY 3D Liveness Check usage growth
- Free OCR, barcode & NFC scanning features added
- Over 20 new distribution partners added
In addition, in Q4 FaceTec secured a contract via Leidos for the DHS TVPS program, renewed its agreement to supply remote identification software for Canadian Parliament, and signed many influential new partners, including Unico and Intellicheck. Further, along with gDi, FaceTec successfully launched a major project for First Abu Dhabi Bank (the UAE's largest bank), which followed another successful deployment earlier in 2021 for Digital Dubai. FaceTec now has over 80 distribution partners globally, and unlike many vendors in the Liveness space, FaceTec provides stand-alone software that runs locally on the customer's servers or cloud. Because of this architecture, no personally identifiable data from customers' users is ever sent to FaceTec, ensuring privacy and the ability for organizations to comply with consumer data regulations such as BIPA, CCPA, and GDPR.
Important new functionality was also added to the FaceTec SDKs in Q4 2021, including free barcode reading (video here) and free NFC chip scanning (video here). These features bring the cost of onboarding a new user down dramatically compared with typical IDV vendor rates. With the features now added to its software suite, over 80 FaceTec distribution partners can provide their customers access to free OCR for photos IDs, free barcode reading, free NFC chip scanning, free 2D Liveness checks, free 2D and 3D face matching, and free 1-to-N scanning for duplicate faces. Already commercially successful, the additions for the new features provide an even higher value proposition for the software suite, and FaceTec still has no setup or support fees for customers. The only feature that FaceTec bills for is 3D Liveness checks performed by users; nothing else.
FaceTec now provides more than 500M 3D Liveness checks annually across a wide variety of sectors that include finance and banking, cryptocurrency, government, mobile IDs, ecommerce, dating, and social networks.
"Our outstanding performance in 2021 is a clear indicator that our unique 3D approach to remote digital identity is resonating globally," said Kevin Alan Tussy. "I believe our partner network will be the force multiplier that drives our 2022 growth beyond what we saw in 2021. I can't thank our partners and the incredible team at FaceTec enough for their dedication and hard work over the last twelve months."
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About FaceTec 3D Face Authentication
FaceTec's pioneering 3D Face Authentication is fast becoming the global standard in onboarding, KYC, and ongoing authentication, and stops ID fraud and unauthorized access for millions of users on six continents for many of the world's leading organizations in IAM-IDV, financial services, mobile payments, border security, connected transportation, blockchain-crypto currency, e-voting, dating, and more.
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 & Level 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 FaceTec.com for iOS, Android and any webcam-enabled browser, and the developer SDKs are available free at dev.facetec.com.
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About FaceTec
Founded in 2013, with staff in the United States, Brazil, Portugal, Mexico, and Singapore, FaceTec is the leading provider of 3D Face Verification and Authentication software, allowing users to prove their Liveness remotely with an extremely high level of confidence. FaceTec's patented, industry-leading Certified 3D Liveness Detection, face matching, optical character recognition, and age estimation technology biometrically binds 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].
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About Liveness.com
Created as an educational resource for biometrics users, vendors, analysts, media, and regulators, Liveness.com provides 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., 14159979235, [email protected]
SOURCE FaceTec, Inc.
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