Acuant Reports YOY Revenue and Profitability at Record Highs Since AssureTec Acquisition

SaaS revenue grows more than 90%, led by Machine Learning Powered ID Verification Product Offerings

LOS ANGELESSept. 12, 2017 /PRNewswire/ — Acuant, a leading provider of data capture and ID authentication solutions, announced record revenue and profitability, powering more than one billion partner transactions worldwide since its acquisition of AssureTec in June 2016, monthly processing ID’s from all 50 US States, all Canadian Provinces and from 196 countries. SaaS revenue increased in excess of 90% this past year, which has helped achieve almost a doubling of its respective percent of overall business.

“Post a successful integration of AssureTec, we continue to focus on empowering businesses and consumers in today’s digital economy to transact with trust, and together with our growing base of partners to introduce faster, more secure and more user-friendly identity verification solutions,” said Yossi Zekri, CEO of Acuant.

With three intelligent engineering centers located in CaliforniaNew Hampshire and Israel, Acuant offers flexible and scalable solutions for image processing and authentication on cloud and mobile platforms. Adding FRM, biometric facial recognition match with image spoofing detection, and DocX, real time manual identity document review, to further expand its AssureID product continuum, Acuant provides the highest level of accuracy for identity proofing that allows businesses to validate more good customers, creating trust and loyalty, while preventing fraudulent transactions. In today’s world of prevalent data breaches, Acuant offers ID verification products that allow institutions to establish trusted identities without needing to access compromised data and without hassle to customers.

Powered by machine learning, AssureID is approaching 150 million transactions annually and is positioned to grow that number aggressively with mobile, cloud and on-premise solutions, while AcuFill, the company’s extraction and data fill product line, is closing in on 40 million transactions every month.

Since the acquisition, Acuant’s core authentication business has grown to include 20 large government deployments and they have added more than 50 partners which range from large systems integrators to spot solutions designed for industries such as financial services, healthcare and the sharing economy.

Stephen Maloney, Acuant’s EVP Business Development and Strategy, states, “Moving forward, our product continuum will further embrace the convergence of physical and digital identity especially as it relates to identity proofing, and continue to transform our industry.”

About Acuant

Acuant Inc. is a global technology company that provides comprehensive Identity Verification solutions responding to various levels of risk and assurance requirements. Utilizing patented technology Acuant transforms data intake into a business-enhancing proposition while instantly reducing the risk of fraudulent transactions.

Acuant’s intelligent engineering is made to work in any industry in any environment with compatibility for Windows, iOS, Android, Hybrid and HTML 5- and built to allow meeting the highest level security requirements and regulations such as KYC, PII, HIPAA and AML. Partners include start-ups, Fortune 500 and FTSE 350 organizations.

For more information, please visit acuantcorp.com

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PR Contact:
Mike Gallo
Lumina Communications for Acuant Corp
212-239-8594
acuant@luminapr.com

 

 

 

 

 

 

 

 

 

 

Acuant Powers Peer-to-Peer Sharing Platform Boro with ID Verification, Authentication

Acuant’s Identity Solutions Power Innovation, Disruption in the Sharing Economy

Acuant, a leading provider of data capture and identity verification software globally, today announced a partnership with Boro Technologies Corporation (Boro), a peer-to-peer sharing platform that enables users to rent power tools and other popular home items from peers in local communities throughout North America.

Boro offers its customers low rental prices for high cost items by leveraging a peer-to-peer sharing model, reducing transaction and overhead costs compared with traditional rental arrangements. For owners, Boro creates an immediate opportunity to generate income for unused or lightly used assets, while leveraging a flexible work schedule. For renters, Boro offers a convenient and user-friendly platform that provides the popular items they need at a fraction of the cost of ownership.

In a recent survey of 1,000 individuals ages 18-26, Boro found that 72% of respondents expect to participate in the sharing economy in the next two years; 86% say it makes “life more affordable”; and 89% agree it is based on “trust between providers and users.”

Boro will leverage Acuant’s AssureID™ solution to efficiently register and validate the identity of users on its platform. AssureID provides secure and frictionless transactions for Boro customers by extracting the data from IDs, such as driver’s licenses, and authenticating it in one easy step. Users can register on Apple and Android devices and capture their IDs to be accepted as Boro members.

“We are committed to providing a safe environment and an outstanding user experience for our customers,” said Arvin Bhangu, CEO of Boro. “Acuant, a trusted market leader in identify authentication, helps us build a community of trust with our customers as we launch our platform throughout North America.”

Steve Maloney, EVP Business Development & Strategy of Acuant, further states, “Given the fast growth of the sharing economy, Acuant has recognized and met the need for user friendly mobile ID verification with several offerings and is pleased to have been chosen to help Boro grow their customer base.”

About Boro
Boro changes the way you access the things you need. This unique service is packed with amazing products to use whenever you need – from tools you need to start a home project to drones that you can fly on your time off. Book private products from others around you or list your own. Boro is fun, fast and secure.

About Acuant
Acuant Inc. is a global technology company that provides comprehensive Identity Verification solutions responding to various levels of risk and assurance requirements. Utilizing patented technology Acuant transforms data intake into a business-enhancing proposition while instantly reducing the risk of fraudulent transactions.

Acuant’s intelligent engineering is made to work in any industry in any environment with compatibility for Windows, iOS, Android, Hybrid and HTML 5- and built to allow meeting the highest level security requirements and regulations such as KYC, PII, HIPAA and AML. Partners include start-ups, Fortune 500 and FTSE 350 organizations.

For more information, please visit acuantcorp.com

Follow Acuant

Twitter: https://twitter.com/acuantcorp
Blog: http://www.acuantcorp.com/blog/
LinkedIn: https://www.linkedin.com/company/acuant
Facebook: https://www.facebook.com/acuantcorp/

PR Contact:
Mike Gallo
Lumina Communications for Acuant Corp
212-239-8594
acuant@luminapr.com

 

 

 

Acuant Improves Updates to Industry’s Largest Identity Document Library and Enhances Image Spoofing Detection

With More than 1 Billion Trusted Transactions Worldwide, Acuant Continues to Lead in Identity Proofing

Los Angeles, CA, June 28, 2017Acuant, a leading provider of data capture and identity verification software globally, today announced significant enhancements to its AssureID™ and mobile products, including faster updates to the industry’s largest identity document library and new image tampering detection technology. In response to customer demand, Acuant has also added an optional data storage feature and introduced support for Xamarin SDK, as well as, MySQL.

AssureID now provides a more efficient process for customers to access Acuant’s industry leading identity document library which is continuously updated with the latest version of IDs. As a result, customers utilizing Acuant’s library via local and cloud solutions do not have to wait for updates when new IDs, such a state driver’s license, are introduced. Previously the installation of new software meant a lengthy testing cycle for businesses, especially if frequent software updates were required. AssureID has now separated the document library from the software installation making it as easy as uploading a new file to be up to date. This enhancement allows customer facing web sites and mobile apps to maintain the highest stability and availability.

Acuant is also addressing the growing problem of image spoofing. Fraudsters are using tampered images for biometric facial recognition processes where digital images are used for verification of insurance, licensing, or proof of identity in consumer-not-present transactions. Acuant FRM’s new photo tampering detection technology will not approve illegitimate images, allowing for more valid transactions and preventing fraud.

“In today’s market, transaction delays mean losing customers,” said Yossi Zekri, CEO of Acuant. “We are constantly working to improve the speed and accuracy of our identity proofing solutions to allow for a frictionless experience while offering the highest level of authentication to protect against fraudulent transactions.”

Beyond easy integration, Acuant provides multiple deployment options to match any company’s specific needs and use cases.  Recent additions include extending product support to include a Xamarin SDK for mobile solutions. This allows companies to deliver native iOS, Android and Windows applications using existing skills, teams and code. Acuant’s AssureID Connect has also extended its support to MySQL and AWS Aurora databases for companies, providing an on premise deployment choice that is flexible and cost effective.

Additionally, Acuant has recognized the need and request from businesses to safely and securely store customer data without introducing a threat to Personally Identifiable Information (PII). This is accomplished via Acuant’s proprietary data encryption, which is optional to customers, and allows for future use of customer data.

To learn more about Acuant and how to choose leading identity verification solutions, read their white paper: Beyond Machine Learning.

 

About Acuant

Acuant Inc. is a global technology company that provides comprehensive Identity Verification solutions responding to various levels of risk and assurance requirements. Utilizing patented technology Acuant transforms data intake into a business-enhancing proposition while instantly reducing the risk of fraudulent transactions.

Acuant’s intelligent engineering is made to work in any industry in any environment with compatibility for Windows, iOS, Android, Hybrid and HTML 5- and built to allow meeting the highest level security requirements and regulations such as KYC, PII, HIPAA and AML. Partners include start-ups, Fortune 500 and FTSE 350 organizations.

For more information, please visit acuantcorp.com

Follow Acuant

Twitter: https://twitter.com/acuantcorp
Blog: http://www.acuantcorp.com/blog/
LinkedIn: https://www.linkedin.com/company/acuant
Facebook: https://www.facebook.com/acuantcorp/

PR Contact:

Mike Gallo

Lumina Communications for Acuant Corp

212-239-8594

acuant@luminapr.com