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FaceTec reports biometric liveness checks nearly double y-o-y in Q1 summary

FaceTec reports biometric liveness checks nearly double y-o-y in Q1 summary

FaceTec, a 3D face biometrics company, announced signs of growth, increasing usage of its liveness check service, and the addition of more distribution partners in the first quarter of 2022.

The company says it met 121.5 percent year-over-year revenue growth and a 91.7 percent jump in its 3D liveness check service, translating into over 140 million 3D biometric liveness checks in the first quarter of 2022. Similar technology was also used to perform more than 60 million age estimations based on face biometrics.

FaceTec also signed long-term agreements with Millicom, GrupoPan, and BMGMoney, among other companies. It also signed with six new distribution partners for its biometric technology, including Canadian Bank Note Company, PopID, and Synaps.io, now totaling at 85.

“Our outstanding performance in Q1 2022 was expected after a great 2021. Our partners are also growing fast, and our mutual customers are now preventing fraud in every corner of the globe,” says Kevin Alan Tussy, CEO of FaceTec. “We look forward to continued growth in Q2 as more customers and partners begin taking advantage of FaceTec’s free onboarding features.”

Other accomplishments during the past quarter listed by FaceTec include surpassing 600 million total 3D Liveness Checks.

It also named Terry A. Coffing as its chief legal officer during the quarter.

The announcement continues FaceTec’s growth, with the company reporting almost 300 percent year-over-year growth in Q2 2021.

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