iProov Reports 63% Transaction Growth Amid Rising Demand for Biometric Solutions
iProov, a leader in biometric identity solutions, announced a remarkable 63% increase in transaction volume on its platform from August 2023 to August 2024. This surge reflects a growing demand for secure digital onboarding and authentication methods as businesses adapt to an evolving cyber threat landscape.
The company has expanded its customer base, securing significant partnerships across various sectors, including financial services, government, telecom, and education. Notable clients include Charles University, Croatia Telecom, and Translink. Additionally, iProov became the first vendor to earn the new global certification for face biometric identity verification from the FIDO Alliance.
To further enhance its offerings, iProov has formed partnerships with Avoco Secure, Guardline, and TrustCloud, aimed at bolstering its onboarding and authentication solutions.
“Organizations globally are adopting facial biometrics with strong liveness to facilitate secure and user-friendly digital access,” said Andrew Bud, founder and CEO of iProov. He emphasized the necessity of remaining vigilant against sophisticated fraud techniques, particularly those stemming from generative AI.
As cybercrime escalates, highlighted by INTERPOL reporting $1 trillion in fraud in 2023, companies recognize the need for robust biometric solutions. iProov’s innovative technology is designed to help organizations protect their operations and enhance customer experiences.
Recognized for Industry Leadership
iProov’s commitment to excellence has earned it recognition in 14 industry analyst reports in 2024, including:
- Gartner Buyer’s Guide for Identity Verification: iProov was acknowledged as a notable provider of liveness solutions.
- Gartner Hype Cycles: The company was featured in five different Hype Cycles, including those for Digital Identity and Financial Crimes, demonstrating its significant role in the evolving landscape of biometric technology.
- Acuity Market Intelligence: iProov was classified as a Luminary (Leader) in the Biometric Digital Identity Financial Service Prism report, which analyzes pain points in the financial services sector and highlights effective biometric solutions.
Maxine Most, Principal at Acuity Market Intelligence, commented on the findings, noting that digital transformation is driving the need for biometrics, positioning companies like iProov at the forefront of this evolution.
Additional Milestones
iProov has also launched an independent study titled “The Good, the Bad and the Ugly,” investigating the impacts of generative AI and deepfakes on organizations. In recognition of its outstanding contributions to the field, iProov was named the Best Authentication Platform for the second consecutive year in the SC Awards Europe 2024.
About iProov
iProov specializes in science-based biometric identity solutions that blend exceptional user experiences with high assurance levels. Its Biometric Solutions Suite allows secure, seamless remote onboarding and authentication, optimizing both digital and physical access. With a strong foundation in scientific expertise and proactive threat intelligence, iProov safeguards high-value transactions and supports organizations seeking innovative identity verification methods.
Trusted by numerous global entities, including the Australian Taxation Office, GovTech Singapore, and the U.S. Department of Homeland Security, iProov continues to lead the way in biometric solutions. For more information, visit iProov.com or follow them on LinkedIn or Twitter.
