Paycasso rebrands as Xydus, reports high growth for biometric employee onboarding platform
The London-based company offers the Xydus Platform, a facial recognition, biometrics, machine learning, and multi-layered encryption software that allows employees to enroll and reuse their individual identity across the enterprise. Xydus says it smooths out the onboarding experience to require seconds rather than hours or days, and minimizes the effort from information technology and human resources to address access to corporate systems.
Xydus reports that it saw a six-fold growth in sales growth as it closed its largest-ever deals. The surge in digital identity software sales is attributed to steep demand for remote work and customer engagement during the pandemic, notably from organizations in healthcare and financial services deploying biometrics to manage geographically diverse consumer markets and workforces spread across multiple jurisdictions in the U.S. and Europe.
Xydus CEO Russell King says, “Recent years have seen massive disruption to the working patterns and online behaviours of billions of consumers and employers, making Xydus more relevant than ever. A decade ago, faced with a digitally expanding world, we could not think of a much bigger challenge to address than core identity. It is this consistent focus in addressing the challenges in identity management which is now paying dividends for Xydus. This last year’s spectacular sales growth reflects how the need to solve identity issues for this expansive world is only going to grow.”