today announced that it ranked on the Deloitte Technology Fast 50 India 2022, a ranking of the 50 fastest growing technology companies in India.
Rankings are based on percentage revenue growth over three years. grew 148 percent during this period.
IDfy's CEO, Ashok Hariharan, credits the adoption of digital authentication technologies across industries and IDfy's new products with the company's 148 per cent revenue growth over the past three years. He said, "We are going to see tremendous growth in authentications as the next 400 Million Indians enter the formal economy."
"Making to the Deloitte Technology Fast 50 list is commendable in today's highly competitive, fast-changing technology industry, and especially in the challenging year of 2022 which has forced us to pivot, transform and fast track digitisation," said Rajiv Sundar, Partner and Program Director - Technology Fast 50 India 2022, Deloitte Touche Tohmatsu India LLP. "We congratulate IDfy on being one of the 50 fastest growing technology companies in India."
The Deloitte Technology Fast 50 India program, which was launched in 2005, is conducted by Deloitte Touche Tohmatsu India LLP (DTTILLP), and is part of a truly integrated Asia Pacific program recognising the India's fastest growing and most dynamic technology businesses (public and private) and includes all areas of technology - from internet to biotechnology, from medical and scientific to computers/hardware.
The program recognises the fastest growing technology companies in India based on their percentage revenue growth over the past three financial years.
The digital economy runs on trust. After all, you do need to know who you're dealing with. IDfy helps with that. IDfy builds technology solutions to help companies accurately identify people, run background checks, conduct KYC, mitigate lending risks, and onboard associates. Our mission is to deliver these solutions with zero friction for end users.
Specifically, IDfy's video platform and a suite of APIs help companies
Identify people (does Jane Doe exist?)
Verify their credentials (do the details belong to Jane Doe?)
Assess the risk of fraud (Has Jane Doe committed fraud or is she likely to commit one?)
If you have opened a bank account with HDFC, created a fantasy team on Dream11, or ordered from Amazon or Zomato, your life would have been touched by IDfy.
IDfy's APIs use AI/ML algorithms to extract information from documents, check for tampering, verify ID details against official databases, compare faces across pictures, and run checks on criminal records.
Since its inception in 2011, IDfy has impacted more than 150 Million lives. Today, it runs 25 million verifications for 600 clients across India, South East Asia, and the Middle East every month.
Other IDfy clients include the likes of Axis Bank, Amex, HUL, Vodafone, PwC, PhonePe, Paytm etc
IDfy's investors include TransUnion, Blume Ventures, MegaDelta Capital, BEENEXT, and Dream Incubator.
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( With inputs from ANI )
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