Keyless Achieves Record Growth in 2024, Expands Global Reach, and Reinforces Leadership in Privacy-Preserving Biometric Authentication [Yahoo! Finance]
Mastercard Incorporated (MA)
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Source: Yahoo! Finance
Expansion and Innovation: Launched the IDV Bridge and expanded its European and US teams. LONDON Dec. 18, 2024 /PRNewswire/ -- Keyless, the leader in privacy-preserving biometric authentication, has marked a milestone year, achieving record growth, welcoming new customers, and building groundbreaking innovations while expanding its European and North American presence. The company saw a 657% year-over-year increase in annual recurring revenue to date. By the end of 2024, this is expected to increase further with a forecast of 780% growth. A partnership with a top 10 European bank resulted in: $4.1 million in helpdesk and SMS OTP cost savings within the first year. A 77% reduction in account takeover (ATO) fraud , lowering rates from 4.3% to 0.97%. 5x faster account recovery times, replacing call centers with self-service facial biometrics. As part of its expansion strategy, Keyless has welcomed several esteemed advisors. In Europe , with operating support from Rialto Ve
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