Ekata, a digital identity verification data provider, recapped a 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. It also drove significant growth in Europe and Asia-Pacific through its global offices and data infrastructure, according to a press release.
The rapid growth of Ekata is attributed to the accelerated adoption of e-commerce by consumers forced to stay at home during the pandemic. This led directly to an increase in demand among global e-commerce providers for customer onboarding and fraud prevention solutions. In addition, changes in the regulatory environment within the financial services and payments industry has led to increased demand for identity verification solutions.
“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 in the press release. “The first 12 weeks of the pandemic created 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.”