Major 3D liveness revenue, customer gains for FaceTec in first quarter 2023
FaceTec says its revenue increased by 72 percent year-over-year and the company hit several milestones over the course of its first quarter of fiscal 2023.
3D liveness checks performed by FaceTec increased by 120 percent, y-o-y, to over 300 million performed, according to the announcement. Revenues for FaceTec were also up by 106 percent from a year earlier in Q4 2022.
The company signed 13 new commercial agreements in the first quarter of the year alone, and added multiple partners to network of integrators. Three patents were granted to FaceTec during the quarter.
FaceTec also released a feature to provide vocal guidance for visually-impaired users, which works with or without a screen reader.
New features were added to FaceTec’s SDKs during the quarter, including screen detection for spoofed ID documents and faster auto-capture for photo IDs.
A range of free biometric and identity verification services are available from FaceTec through nearly 100 distribution partners, the company says.
“Our continued growth in Q1 2023 demonstrates the effectiveness of FaceTec’s security in uncertain times. Not only are we consistently seeing more inbound requests for new commercial agreements, but the increased usage by our customers and partners is a clear indicator of their trust in our software and its ability to deliver the best biometric security on the market today,” says Kevin Alan Tussy, FaceTec CEO.
FaceTec has surpassed 117 million age estimations and checks, and performs 1.2 billion 3D liveness checks a year.