Shufti’s Growth Skyrockets Above 100% in the Fiscal Year 2020
In 2020, Shufti witnessed a remarkable growth of over 100%. Together with this, it can comfortably boast of winning noteworthy awards in the identity verification space and partnering with industry leaders globally. However, with all this recognition and validation, it never loses sight of what is at stake for its consumers. Shufti’s AI-powered ID verification solution draws from cutting-edge technologies to provide its consumers a safe, secure, and swift solution.
The COVID-19 pandemic caused a rapid shift towards the digital space which created security loopholes and vulnerabilities for businesses. During this, more and more businesses needed digital ID verification services but the conventional providers were not able to cope with this increasing demand. However, Shufti is always one step ahead of the game and never falters for a second, when it comes to safeguarding its consumers.
Shufti’s Key to Managing Growth Amid COVID Times
Shufti owes its continuous growth to its customer-first business approach and showing absolute loyalty to its customers. Listening to the customer’s needs and putting their interests above anything is the key to earn customer’s trust. It is safe to say that Shufti has progressed from a start-up to be a global business entity quite quickly and that too without compromising on the customer experience.
The CoronaVirus pandemic restricted human interaction and in-person business dealings which created a lack of trust among customers and service providers. But, Shufti’s dedicated leadership and staff showed utmost consideration to their clients in these dire times. This is inculcated in the fact that Shufti has donated 10 million free verifications to non-profit organizations to fight identity theft and fraud.
Moreover, Shufti’s tireless dedication and effort are not going under the radar either. In October 2020, Shufti took home two prestigious awards. It was declared the winner of the best consumer service award in “Best in Biz Awards 2020 International”. Moreover, under the outstanding product/service category, Shufti was announced as the winner of “Global Business Excellence Award 2020”. Thus, all this global recognition and trust ultimately translated into vigorous expansion and growth.
Non-Stop Innovation Creates a Positive Feedback Loop
Innovation at the Shufti’s headquarters never ceases to amaze its clients. It satisfies the needs of customers by deploying advanced service features one after the other. And 2020 was no expectation either. Shufti hit the bullseye by introducing the Video KYC service in the times when the world needed contactless ID verification. Furthermore, Shufti launched an On-premises Identity Verification service for businesses that do not want to store the confidential data of customers on the third-party servers. Moreover, paper-based authentication is another feature that gets a noteworthy mention under the technical advancements of 2020.
Partnering With Industry Leaders
Shufti continuously widens its horizons by joining hands with industry leaders across the world. Shufti’s operations are not only limited to the US and the EU, as it has established headquarters in every region of the world. Recently, its Dubai office partnered with the Arab company Baaz Inc. Baaz Inc. is a social media platform that has incredible processing and analyzing capabilities aimed at introducing Arab content to the world. So, its roots are spread globally. This is only one of many innovative businesses that Shufti is a partner of. So, its success speaks the truth itself.
Digital ID Verification Solutions, Everywhere! Why?
The CoronaVirus pandemic has forced even the most conventional businesses to shift their operations to the digital space, forcefully or otherwise. Those who were reluctant to fully embrace the digital revolution were then struck with a perplexing situation. How to digitally secure customer onboarding, and process day-to-day transactions securely? The old proverb, “Necessity is the mother of invention” perfectly describes the aforementioned question.
The digital ID verification solutions appeared to address this need of businesses. Their offered services range from AML/KYC compliance to biometric verification and document scanning. But, way before the advent of the pandemic, Shufti was already providing these services to their clients and quite efficiently so. Therefore, Shufti experienced over a 100% hike in sales and revenue because it embraced the increase in demand and global market needs.
Digital COVID Pass – Modern Solution to the Modern Problem
Adaptability is essential for expansion and growth. That is why Shufti never shies away from new challenges. Recently, it has addressed a crucial need faced by the tourism and travel industry. The governments have put in place stringent restrictions that require travelers to submit their COVID-19 report, not older than 72 hours. But, people desperate to travel are forging reports or presenting old ones. As a consequence, they are creating a major health hazard. So, Shufti introduced a COVID-19 test report scanning service, Digital COVID Pass, to readily assist businesses to comply with these rules.
Shufti’s AI-powered OCR technology can recognize and extract data from printed reports to check the validity, authenticity, and ownership of the report. Also, any manipulation attempts made with the QR code embedded in the reports can be detected. Moreover, you don’t have to necessarily install or integrate the Digital COVID Pass service with your application as you can just access it through a browser.
In Consolidation
Now, more and more businesses are recognizing why Shufti’s state-of-the-art solution is pertinent to their safety and growth. The whole customer onboarding process is now more efficient, accurate, swift, secure, and cost-effective. Be it financial institutions, real estate, health, or the travel industry, Shufti’s ultra-reliable ID verification service is the answer to everyone’s needs and the numbers prove it.
