IDnow sales in automated solutions increase by 52% in 2022.

MUNICH: IDnow, a leading identity proofing platform provider in Europe, has increased the revenue generated from its AI-powered, automated portfolio by 52% in 2022, compared to 2021. Built with in-house technology, the automated solutions, which include biometric selfies and video liveness checks, can verify customers across a range of industries and use cases in minutes.

FinServ, telecommunications, and mobility and travel lead vertical growth

The revenue growth of the company in its automated solutions was driven by three key verticals: Financial services, traditionally the most highly regulated market, nearly doubled its revenue in 2022 with 97% growth year-over-year (YOY). The telecommunications sector contributed with 40% growth YOY, while the mobility and travel sector grew by 16%. Similar developments can be observed in the gaming industry, where regulatory changes are expected to further fuel adoption of automated identity verification.

"The travel industry, in particular, has faced tremendous challenges due to the global pandemic in the last few years but is looking to transform itself to offer a fully digital travel experience. Identity verification is becoming an essential part of booking, check-in and onboarding processes. By providing a more seamless and secure travel experience, businesses can now gain a highly competitive advantage in this market, as the customer experience benefits significantly from digital identity verification solutions," explains Bertrand Bouteloup, CCO at IDnow.

Revenue growth in automated solutions across geos

IDnow more than doubled its...