The Global Identity Verification Market is growing at the speed of light. That also reflects in Veriff’s results - we had an impressive 20x increase in our verification volumes from the U.S in 2021.
The growth derives from companies with a global user base as the demand for stronger ways to verify identity online continues to grow. This year’s growth was driven by emerging use cases as well as organic growth with existing customers.
“Identity verification goes far beyond just meeting KYC and AML regulations, it’s relevant for every business to operate and succeed online. As tech companies operate globally, they also need global ID verification capabilities. This is where Veriff holding the leading position and supporting more than 10,000 government issued IDs from over 190 countries enables businesses to scale globally,” said Kaarel Kotkas, founder and CEO of Veriff.
In 2021, we signed several gaming sector partnership agreements to verify users' age and bring more trust and safety to the Metaverse. In addition to the growth in the gaming sector, we 10X-ed our verification volumes in the financial services sector in 2021 and we are now the primary identity verification provider for 95% of our financial services customers.
Here are some of our 2021 key momentum data points:
“With the rapid growth of the IDV market in the last year, I have witnessed several organizations sacrifice customer success for rapid short-term wins, but at Veriff we’re taking a different approach,” said Byron Fehler, SVP of Commercial at Veriff. “We’re focused on long-term, sustainable growth to ensure our customers are able to implement and utilize our technologies in multiple use cases seamlessly. I’m thrilled to be a part of the team of trusted experts for our customers at Veriff.”
Our intelligent decision engine can analyze thousands of technological and behavioral variables in seconds, matching people to more than 10,000 identity documents from over 190 countries.
We serve a global portfolio of organizations across fintech, crypto, and mobility sectors including customers like Blockchain, Bolt, Deel, Starship, Wise and many others.