Acuant on Track for Record Year, Citing Double-Digit Revenue Growth and Continued Industry Recognition
December 18, 2019
Acuant, a leading global provider of identity verification solutions, today announced the company is on track for a record year in revenue generation for 2019. The company marked another consecutive year of impressive milestones speaking to the growing demand for identity verification. Acuant was most recently named in the Gartner Modernizing IAM Architecture With Machine Learning report (Gartner subscription required), published December 3, 2019 by VP Analyst Mary Ruddy.
“We have seen an increase in demand for omnichannel identity verification to prevent and thwart fraud globally, across all industries. Companies want to know who they are transacting with more than ever in the digital era,” said Yossi Zekri, President and CEO. “Acuant serves to build solutions that solve for identity proofing and allow ease of use for consumers. Striking the balance between security, data privacy and user experience is integral in all we do.”
2019 saw the launch of new products including Acuant Face™, which offers three classes of biometric facial recognition to catch even the most sophisticated fraud when it comes to image spoofing and video replay; Acuant Review™, manual review when you need 100% certainty in real time; and InfinitID™, the plug and play solution with scanner and software all-in-one (no support, internet, training or set-up needed). 2020 promises more new products focused on serving web and mobile environments in global markets to meet increasing regulations for identity verification.
Additionally, several key hires were made in 2019 to support rapidly growing business. Kevin O’Connor joined Acuant as Chief Financial Officer. A veteran finance leader in the technology industry, O’Connor began his career with Deloitte and has held roles with Telogis, Conexant, Synaptics and Ytel.
Sanjay Nichani also joined the team as Vice President, Computer Vision and Machine Learning Initiatives. “AI has disrupted how we solve problems in document forensics and biometric verification, and I look forward to continuing and extending the legacy of Acuant’s technology leadership in the identity verification market,” Nichani said. With more than 25 years of experience and numerous patents, Nichani has invented and led R&D teams to develop technology that now powers many products globally. Prior to Acuant, he was the Vice President of Mitek Labs R&D group and Director of Advanced Products at Cognex Corp.
Acuant continues to be a leader in the industry garnering recognition by top analysts, winning coveted awards and exponentially growing its partner network globally. The company was recognized as a leader in identity by One World Identity (OWI). Acuant was selected due to the company’s effectiveness in ID authentication and advancements in meeting compliance. As such, Acuant is the first service provider to identify Real ID compliant IDs, leveraging the industry’s largest document library with continuous updates. Real ID legislation is already enacted in many federal locations with the TSA slated to begin enforcement in October 2020.