Onfido touts decentralized biometrics efforts, key wins, and 171 percent revenue gain

Onfido has announced 171 percent quarter-over-quarter revenue growth and says it expects its rapid growth to continue in the second half of the year, powered by notable client wins, leadership appointments, and industry recognition. Further, the company says its new strategic partnerships indicate its role in projects shaping the future of decentralized or re-usable identity services for a range of applications.

The company’s revenue had already increased by 137 percent on a year-over-year basis in Q1 2019.

“Our core identity verification business is continuing to meet and exceed the market need for a highly-effective yet low-friction verification service,” comments Onfido CEO and Co-founder Husayn Kassai. “Equally important is where the market is heading and we continue to be actively engaged with a range of stakeholders who are defining the future of reusable online identities with priority on re-establishing trust and increasing access for all.”

In recent months, Onfido has added Gimena Diaz as general manager for France, Angela O’Conner as vice president of marketing, and Laura Coffey as director of policy & strategic accounts. New customers include Currencies Direct, MoneyNetint, Civic, UK Meds, and Nuggets.

Onfido launched an international partner program in July, and is participating in the Fido Alliance Identity Verification and Binding Working Group (IDWG), the Digital ID & Authentication Council of Canada (DIACC), the UK Information Commissioner’s Office’s new data protection and privacy sandbox, the FCA sandbox, and the Global Financial Innovation Network (GFIN) sandbox.

Recent recognition for Onfido includes “Innovation of the Year” at the Barclays Supplier Awards 2019, Frost & Sullivan 2019 European Technology Innovation Award, inclusion in the D/SRUPTION 50 as one of the UK’s top innovators, and in the Rocket List 2019, The Top 100 Asian Stars in UK Tech 2019, GrowJo Top 500 Fintech, and BusinessCloud’s London Tech 50.

Article Topics

biometrics  |  decentralized ID  |  digital identity  |  financial results  |  identity verification  |  Onfido