Intellicheck (NYSE:IDN) CEO Bryan Lewis tells Proactive's Stephen Gunnion that identity theft is a $52 billion problem and industries, most notably the financial sector, are using the identity validation company's solutions to prevent fraud and ensure that people are who they say they are.
The company works with five of the top 12 banks and card issues across their branches, call centres, websites and mobile apps. It has also partnered with more than 60 law enforcement agencies.
As a result, Lewis said software-as-a-services (SaaS) revenue has risen sharply, increasing by 21% to $3.93 million in the second quarter to June 30, 2022. That's after more than doubling between 2019 and 2021.
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