Company Research Report: iProov Ltd

Company Overview

• Name: iProov Ltd

• Mission: To make the internet a safer place by enabling governments, financial institutions, and other enterprises to verify individuals are the right person, real, and authenticating in the present moment to protect against identity theft, account takeover, and other cybercrimes.

• Founded: The company has been privately trading since 2013.

• Founder: No specific founder mentioned.

• Key People: While specific key personnel are not mentioned, reference is made to the leadership team whose mission aligns with making the internet secure.

• Headquarters: 10 York Road, London, SE1 7ND, United Kingdom.

• Number of Employees: Approximately 200 employees.

• Revenue: No information is available.

• Known For: iProov is recognized as a leader in biometric verification and authentication, providing secure and seamless biometric solutions against spoof attacks and ensuring the authenticity of identity verification.

Products

Biometric Solutions:
1. Remote Onboarding

• Description: Provides a seamless way to verify new users’ identities through face biometric capture and ID verification.

• Key Features:

• WCAG 2.2 AA compliant to ensure inclusive access.

• High assurance of genuine user presence with dynamic liveness detection.

2. Authentication

• Description: Ensures secure access for existing users with facial recognition technology.

• Key Features:

• Adapts to varying levels of identity assurance to bolster security as per risk appetites.

• Protects against fraud with advanced spoof detection.

3. Dynamic Liveness Technology

• Description: Validates user authenticity during interactions.

• Key Features:

• Patented Flashmark technology ensures that users are authenticating in real-time.

• Proven attack mitigation capabilities have been tested extensively by security operations experts.

Recent Developments

• New Products and Features:

• iProov has launched new generative AI threat mitigation solutions as well as advanced identity verification product updates.

• The Biometric Solutions suite for Remote Onboarding and Authentication was introduced as a robust defense to ensure genuine user presence.

• Partnerships:

• Collaborations with Authsignal and Biometrid for enhanced digital identity verification.

• Partnered with Rabobank and UBS, implementing iProov technology for efficient digital client onboarding.

• Certifications and Standards:

• Achieved the world’s first FIDO certification for face biometric verification, emphasizing advanced liveness detection.

• Complies with the highest privacy and security standards like ISO/IEC 30107-3 for presentation attack detection and SOC 2 Type II for data security.

• Awards:

• iProov has received numerous accolades such as the Best Authentication Technology at the SC Europe Awards and Cyber Defense Magazine's award for Editor's Choice Biometrics.

• Strategic Investments:

• Secured a $70 million investment from Sumeru Partners in January 2022 to expand biometric authentication initiatives.

Conclusion

iProov Ltd demonstrates a strong foothold in biometric authentication and verification technology with a significant emphasis on security and innovation. Through strategic partnerships and continuous technology advancements, the company continues to address modern security challenges effectively and inclusively.