Ekata Reveals Significant 2020 Growth and Rapid Global Expansion
Ekata, the global leader in digital identity verification data, today recapped a remarkably successful 2020 despite the worldwide COVID-19 pandemic. The company significantly grew its global customer base and revenues, gained momentum in the financial services and payments sector, expanded its product portfolio, and drove significant growth in Europe and Asia-Pacific through its global offices and data infrastructure.
“2020 was a banner year for our business, one in which we outperformed all but 11 of the S&P 500 companies in revenue growth and profit. This is perhaps best captured by our 117% net customer revenue retention rate and 33% growth in revenues,” said CEO Rob Eleveld. “With the first 12 weeks of the pandemic creating more growth in online business than the previous five years combined, the global demand for enterprise grade digital identity verification solutions has never been higher. We see continued opportunities for long-term customer growth and product innovation in identity verification for payments, financial services, and eCommerce.”
Ekata benefitted from the rapidly accelerated adoption of eCommerce by consumers forced to stay at home during the pandemic, leading directly to an increase in demand among global eCommerce providers for customer onboarding and fraud prevention solutions. In addition, a rapidly changing regulatory environment in the financial services and payments industry has led to increased demand for identity verification solutions, particularly in pre-credit-card-authorization use cases in Europe.
These factors and others contributed to Ekata’s outstanding 2020 performance. Key metrics include:
Added over 300 new customers to its growing, global customer base, that now includes:
- Postmates and 4 other leading, high growth consumer marketplaces
- 5 of the largest e-retailers globally and 8 of the top 10 in the US
- The 5 largest travel/hospitality companies worldwide
Increased momentum in the financial services sector in 2020. Customers now include:
- Checkout.com, which contributed to 42% growth in Ekata’s global payments business
- 5 of the leaders in cryptocurrency
- The top 5 buy now, pay later providers, including Klarna
- Ekata’s Identity Network saw 16B+ identity elements received through 6.2B+ globally distributed monthly queries and growing.
- Transaction volumes in 2020 grew 170% in EMEA and 151% in APAC compared to 2019, as reflected in calls to the Ekata Identity Engine.
Significant growth in the company’s product portfolio, infrastructure, and people, including:
- The introduction of 3 new products for its global markets: Transaction Risk API 2.0, Account Opening API, and Address Risk API 4.0
- The opening of its Asia-Pacific office and the launching of its third data center in Singapore, supporting rapid growth in the region and API delivery to any customer, anywhere in the world, in under 50 milliseconds.
- A 55% increase in global staff to support the explosive growth of Ekata’s global go-to-market and customer needs.
Digital identity verification is key to offering more inclusive and frictionless experiences while ensuring customer privacy, control, and security. According to Steven D'Alfonso, research director, IDC Financial Insights, "The COVID-19 pandemic is accelerating investments in — and demand for — advanced identity offerings and services as online and mobile banking services expand.” Following a successful 2020, Ekata is well equipped to meet the increasing demands and innovation of global financial institutions, payment companies, and eCommerce providers.
Ekata provides global identity verification via APIs and a SaaS solution to provide businesses worldwide the ability to link any digital transaction to the human behind it. The Ekata product suite is powered by the Ekata Identity Engine, our proprietary, intellectual property, that uses unique datasets from the Ekata Identity Graph and the Ekata Identity Network that provides identity verification data with consistent results across the globe, in industry-leading response times, to enable businesses around the world like AliPay, Microsoft, Stripe, and Airbnb to fight fraud, reduce false declines, and make accurate risk decisions about their customers in fractions of a second.
Ekata is a trademark of Ekata, Inc. All other trade names, trademarks and registered trademarks are the property of their respective owners.
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CGTN: China Outlines Plan to Address Economic Challenges in Next 5 Years5.3.2021 14:02:00 CET | Press release
China has set a gross domestic product (GDP) growth target of over six percent for 2021 and outlined a plan to promote innovation, green development, and common prosperity in the next five years. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210305005288/en/ Addressing the country's annual legislative session, Premier Li Keqiang on Friday explained how China is going to tackle the numerous challenges it faces in a new development stage. "China remains in an important period of strategic opportunity for development. Yet, there are changes in both the opportunities and challenges we face," Li said when delivering a government work report at the opening meeting of the fourth session of the 13th National People's Congress (NPC), China's top legislature. 'Extraordinary year' Describing 2020 as "an extraordinary year in the history of the People's Republic of China," the premier underscored China's "major strategic success" in fi
Everbridge Awarded Revolutionary New Public Warning Patent for Technology that Automates the Selection of the Optimal Communications Channels to Reach the Broadest, Hyper-Targeted Populations – as Fast as Possible – During a Crisis5.3.2021 13:30:00 CET | Press release
Everbridge, Inc. (NASDAQ: EVBG), the global leader in critical event management (CEM), today announced the company received a revolutionary new patent related to its world-class Public Warning system. The patent pertains to technology focused on hybrid population alerting systems and intelligent sending of messages in public mobile networks. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210305005260/en/ Everbridge Awarded Revolutionary New Public Warning Patent (Photo: Business Wire) Everbridge represents the first population alerting provider to serve the entire populations of 11 countries in Europe, Asia, Oceania, the Middle East, Africa, and the Americas, supporting five European Union (EU) countries in conjunction with the EU mandate requiring member countries to have a population-wide alerting system in place by June 2022. In compliance with GDPR, Everbridge Public Warning neither collects nor stores personally identif
COVID-19’s Economic Pinch Drives More Nordic Enterprises Toward Business Process Automation for Competitive Edge5.3.2021 10:00:00 CET | Press release
Large enterprises in the Nordics have been implementing business process automation over the last three years, and more organizations now see the urgency of adopting these technologies to stay competitive as COVID-19 strains the regional economy, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. The 2020 ISG Provider Lens™Intelligent Automation – Solutions and Services report for the Nordics finds banking, financial services and insurance companies have led the region in adopting business process automation, seeking higher productivity, cost savings and improved customer experience. Manufacturing, retail and other sectors are also embracing the technologies, which include conversational AI, natural-language processing and AI for IT operations (AIOps). “Early adopters of automation in the Nordics are stepping up digital transformation to gain an advantage when they need it most,” said Jan
International Fashion Designer Anna Chybisova Draws Major Investments Worth $9 Million for her Brand Maison d’Angelann5.3.2021 09:52:00 CET | Press release
Following a series of successful market takeovers, Anna Chybisova takes another step towards success by securing another major investment for Maison D’angelann. The Gate Business Service, a private family office based out of the United Arab Emirates, has been announced as the latest investor to back Anna’s brand globally. After having invested $7 million late last year, Gate Business Service secures an additional $2 million worth of investment against a majority stake in Maison d’Angelann fashion brand. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210305005133/en/ Anna Chybisova, Fashion Designer & Owner, Maison d’Angelann (Photo: AETOSWire) Anna Chybisova’s designs and business acumen are the foremost reasons behind such heavy investments by the new partner. Reporting sales over $2 million within UAE alone and a sold-out Spring/Summer 2021 collection has strengthened the investor confidence. This growing success and custo
Xlife Sciences AG (XLS): Joint Venture With anfass Life Technologies5.3.2021 08:48:00 CET | Press release
Xlife Sciences AG and Solothurn-based anfass Life Technologies AG have entered a joint venture. Hence, the jointly founded Quadira Biosciences AG has access to the 3D CoSeedis(TM) technology platform of abc biopply ag. This unique 3D cell technology enables the replication of human tissue for reliable testing and characterization of antibodies without animal testing. Xlife's technology platform for the development of antibodies will be used even more efficiently. As of today, Xlife Sciences AG has already identified 30 compounds with blockbuster potential with its antibody screening platform. These therapeutic antibodies have already shown to be safe and effective in humans. Xlife can modify these antibodies with utmost accuracy and increase the quality of the active ingredient. These are mainly advanced, highly potent antibodies with higher cytotoxic activity and improved side effect profile for cancer therapy. The target market potential of the pre-selected antibodies is in the range
Moody’s Analytics Wins IFRS 9 Solution Provider of the Year5.3.2021 08:30:00 CET | Press release
Moody’s Analytics has won IFRS 9 Solution Provider of the Year in the 2021 Insurance Asset Risk Awards. It is the latest recognition for our capabilities in this space following wins for IFRS 9 – Enterprise Solution of the Year and IFRS 9 – ECL Modelling Solution of the Year at last year’s Risk Technology Awards. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304006204/en/ Central to our offering for insurers is the ImpairmentStudio™ for IFRS 9 solution, a cloud-based platform that brings together our award-winning economic scenarios, data, models, and enterprise software. Financial institutions use it to automate the credit loss impairment calculations mandated by the new IFRS 9 accounting standard. For insurers, these new financial reporting requirements call for much more granular data than was previously needed. The Moody’s Analytics offering helps them access and use all of the required data while managing and monito
C3.ai Digital Transformation Institute Announces Shell as New Industry Partner4.3.2021 20:00:00 CET | Press release
The C3.ai Digital Transformation Institute (DTI) today announced that global energy company Shell is the newest industry partner to join the consortium of universities, national laboratories, and companies that make up the Institute. Shell’s Chief Scientist - Computation and Data Science Detlef Hohl will represent the company in the consortium. The DTI Industry Partner Program enables leading companies from around the world to engage with DTI researchers and activities and to contribute data sets that will be available for research after anonymization. Industry partners also are encouraged to engage with Institute researchers and collaborate on research projects as well as participate in DTI conferences. DTI recently released its second call for proposals to fund advanced research projects focused on applying digital transformation and AI to address energy and climate security. “Shell has established clear leadership in new energy, having laid out its ‘Powering Progress’ commitment to
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom