On the occasion of its third anniversary, TECH5 would like to share some of the exciting news of the last 365 days in the company’s history.
“Starting with the numbers, currently 370+ million active identities worldwide are managed by TECH5 platforms. This translates into more than 300,000 transactions processed by TECH5 platforms every day. This achievement is the direct result of the trust and cooperation our partners and customers put in us. In addition, this year our sales revenue has increased by more than 50% relative to last year, and we are continuing to grow” – says Machiel van der Harst, CEO and Co-founder of TECH5.
In terms of technology, we have launched T5-AirSnap – a state of the art contactless fingerprint capture algorithm that produces images compatible with legacy system, NN-based fingerprint matching algorithms, that is 1,000 times faster than the most accurate legacy algorithm. We have also launched T5-IDencode, a new disruptive platform for Mobile ID issuance. This year also, the TECH5 fingerprint recognition algorithm was benchmarked as the second most accurate in the NIST PFT III. In addition, TECH5’s technology not only has the fastest template comparison time of all vendors participating in all databases used in the testing, but also has one of the smallest biometric template sizes. Finally, TECH5 technology was ranked in the Top-10 in the NIST (National Institute of Standards and Technology) Minutiae Interoperability Exchange (MINEX) III in both the Generator report and Matcher report categories.
“We are continuously investing in research and development to ensure that our partners and customers have access to true leading-edge identity management solutions. We believe that T5-Mobile ID, our latest innovation based on the company’s key technologies, can become a game-changer in the world of credentialling” – says Rahul Parthe, TECH5 CTO, Chairman and Co-founder.
TECH5 welcomed 10+ strategic partners over the last year, including Yinda Infocom, who has invested $10.5 Million in our company. TECH5 will use the proceeds from the investment to expand market presence in the Asia Pacific region as well as other strategic geographies such as Africa and Latin America. We will also focus on the further development of its flagship matching platforms and digital ID solutions, based on TECH5 biometric technologies for face, fingerprint and iris recognition that are consistently top ranked in NIST benchmarking tests. This investment and partnership will help TECH5 boost its global reach, increase TECH5 brand awareness, and fuel innovation through continued research and development.
TECH5 is gaining increasingly greater recognition as a brand. The company has upward of 1 Million views of its articles, press releases, and quotes across different media platforms including CNN, BBC, Findbiometrics, BiometricUpdate, Planetbiometrics, MobileIDWorld, and others.
“We are all certain that we are just at the beginning of a great journey. We believe that together with our partners, we will make this world truly inclusive by offering innovative digital identity and identification solutions that keep each identity in the hands of authorized holders” – says Mr. van der Harst.