Brooklyn, New York--(Newsfile Corp. - January 15, 2025) - Microblink, a global leader in identity verification solutions, today cited strong momentum in 2024, driven by growing demand for advanced identity verification solutions, including BlinkID and BlinkID Verify.
The company achieved several significant milestones throughout the year, including:
Availability on Google Cloud Marketplace: Last month, Microblink's flagship products, BlinkID and BlinkID Verify, debuted on the Google Cloud Marketplace, making it easier for businesses to add Microblink's robust identity document checks to their existing systems on Google Cloud, facilitating safer and more efficient online interaction.
Significant growth into key markets: Microblink expanded its reach into key industry verticals, including human resources, travel, hospitality, banking and fintech.
Enhanced product offerings: Already home to the industry standard with regard to UX and UI and a pioneering frameless capture experience, Microblink introduced new features and capabilities to its BlinkID, BlinkCard and BlinkID Verify products, including advanced image quality checks, superior capture experience, and real-time advanced fraud detection.
Key new hires: Microblink brought in several new hires from the industry in 2024, including Albert Roux as EVP of Product, Identity and Michael Rodriguez as VP of GTM Strategy & Operations.
Exceptional customer satisfaction: Microblink continued to prioritize customer satisfaction, achieving a 98% CSAT score across its entire customer base and 96% among enterprise customers. Additionally, Microblink recorded a +74 NPS in the second half of 2024.
Identity revenue growth: Microblink's identity revenue grew by a double-digit percentage for the fifth consecutive year, reflecting the increasing adoption of its innovative identity verification solutions across various industries. In addition, 62 unique accounts, representing nearly 20% of Microblink's business, expanded their product use.
Fraud Lab: Microblink's cutting-edge AI and machine learning technology are at the forefront of fraud prevention, offering expertise to safeguard businesses from the latest identity theft threats.
"We are proud of the significant progress we made in 2024," said Microblink President of Identity Hartley Thompson. "Our growth is a testament to our team's hard work and dedication, as well as the trust our customers place in our solutions. We are committed to continuing to innovate and deliver world-class identity verification solutions that help businesses stay ahead of emerging threats and create seamless digital experiences."
Microblink VP of GTM Strategy and Operations Michael Rodriguez said, "For more than a decade, we have built proprietary AI technology and managed the entire end-to-end cycle in-house. From data annotation and classification to our advanced Fraud Lab initiatives, we ensure complete control and quality of our solutions. In 2024, we implemented synthetic data generation within our Fraud Lab to replicate fraud attacks and accelerate the support of new identity documents."
With this innovation, Microblink successfully added over 200 new identity document types in 2024 alone. The company's more than 50 in-house domain experts ensure all machine learning models are trained without reliance on third-party solutions, maintaining its leadership in an identity verification industry where other identity companies adopt Microblink's solutions. Microblink's proprietary in-house machine learning tech is the backbone of today's identity landscape, powering verification for over 20 leading identity solution providers, including 50% of the IDV providers (as listed in the Gartner 2024 Magic Quadrant for IDV.)
Microblink's success results from its commitment to developing cutting-edge technology and adjusting to evolving security challenges. The company is committed to improving online experiences for businesses and consumers. The company's AI-powered solutions are designed to be fast, accurate, and user-friendly, enabling organizations to verify identities in real time with minimal friction.
Microblink's solutions have processed over 12 billion documents from over 180 countries. Its BlinkID product quickly and accurately extracts information from over 2,500 types of IDs worldwide. BlinkID Verify goes a step further by confirming the authenticity of IDs through thorough checks and liveness detection. BlinkCard, Microblink's AI-driven payment card scanning and verification SDK solution fights card-not-present fraud and boosts revenue. These tools are essential for industries like finance, banking, cryptocurrency, insurance, and travel, where quickly and securely verifying identities and payments is crucial.
Customer Successes/Use Cases
Microblink's proprietary technology is widely adopted by many leading identity verification providers, delivering the best performance for their global customers.
This in-house expertise also allows Microblink to apply computer vision to extract data from credit cards, providing a unique and differentiated service in the identity market.
Two customers that showcase the breadth and depth of Microblink's capabilities are Intesa Sanpaolo and Elektra USA.
Intesa Sanpaolo, a leading EU bank, chose Microblink to complement its existing technology infrastructure and to support its KYC identity verification process for opening bank accounts, loan applications and bill payments.
Alessandro Mariani, Head of Intesa Sanpaolo's Digital Innovation and Scouting Office said, "Microblink's identity verification process offers secure, fast and accurate processing. This enables digital businesses to deliver an innovative onboarding experience for global customers."
Elektra USA utilizes Microblink's BlinkCard credit card scanning and verification product to automate what had previously been a manual entry process that was friction-filled and led to weaker customer conversion rates. According to Francisco Hernández León (CTO), "We chose BlinkCard because of its ability to provide fast and accurate card number extraction, combined with reliable on-device processing."
Looking Ahead to 2025
Microblink is poised for continued growth in 2025, with plans to:
- Further expand global reach: Microblink is committed to increasing its global footprint, bringing innovative solutions to new markets and regions, with several new product initiatives planned for Q1 2025.
- Drive product innovation: Microblink will continue to invest in research and development, introducing new products and features to meet the evolving needs of its customers.
- Strengthen strategic partnerships: Microblink will deepen its relationships with key partners to deliver comprehensive, integrated identity verification solutions.
With its focus on innovation, customer satisfaction, and global expansion, Microblink is well-positioned to maintain its leadership in the identity verification market and empower organizations worldwide to create secure and trusted digital ecosystems.
About Microblink
Microblink empowers businesses across the globe with reliable identity verification solutions and proprietary AI. With over 12 billion documents processed from over 180 countries, Microblink's BlinkID and BlinkID Verify are used across industries for onboarding more real customers, optimizing KYC/AML workflows, and minimizing fraud, enabling organizations to make online interactions safer and easier.
Media Contact:
Paul Wilke
Upright Position Communications on behalf of Microblink
paul@uprightcomms.com
+1-415-881-7995
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237322
SOURCE: Microblink
