Business

Onfido Sees 342 Pct Sales Growth In 2018

Onfido, the global identity verification company, announced Tuesday (Dec. 18) that it achieved 342 percent sales growth in 2018 compared with 2017 and that it has a four-year growth rate of 3,857 percent.

In a press release, Onfido said 2018 was a landmark year for the company which not only enjoyed strong growth but named key members to its senior team and won accolades from within the industry. “It has been a milestone year for us at Onfido, and we’re particularly proud of the growing trend of trial before you buy that we’ve successfully been able to establish,” Husayn Kassai, CEO and co-founder of Onfido, said in the press release. “This reinforces the team’s belief that our AI-powered identity verification offering is the leading solution on the market. We look forward to building on this year’s achievements even further in 2019.” During the year, Onfido said, it added a lot of talent to its management ranks including David Clarke as chief financial officer; Chrissy Dal Porto, Ruth Penfold and Amy Wallace as vice President of global marketing, director of people and general counsel respectively; and Michael Van Gestel as identity document fraud consultant.

In addition to deepening its executive bench, the company said it brought on new clients during 2018 including TransFer Go, Remitly, Indiegogo, and Bitstamp. It now provides identity verification for more than 1,500 companies across a range of industries, with several new customers to be announced in 2019. The company said it also rolled out new products during the year including its proprietary technologies such as facial liveness testing, which provides protection against spoofing attempts, and a new Flash package, which validates a user’s ID in under 15 seconds.

Onfido noted that its document verification service, which provides businesses with a secure way to verify users’ identity, was complemented during the year with the incorporation of Chinese and Japanese characters. That ensures a “truly international, forward-facing solution for businesses around the world,” Onfido said in the press release.

——————————–

Featured PYMNTS Study:

More than 63 percent of merchant service providers (MSPs) want to overhaul their core payment processing systems so they can up their value-added services (VAS) game. It’s tough, though, since many of these systems date back to the pre-digital era. In the January 2020 Optimizing Merchant Services Playbook, PYMNTS unpacks what 200 MSPs say is key to delivering the VAS agenda that is critical to their success.

TRENDING RIGHT NOW