Ubisecure 2020 in review
I think we can all agree that 2020 was not the year we were expecting! The pandemic has affected all of us in different ways and to different extents. Yet the silver lining for me was to see all the teams we have within Ubisecure adapt and continue regardless of last year’s challenges, continuing to communicate effectively, deliver first-rate services, and grow the company. This is a testament to each and every member of the Ubisecure team, dealing with remote working, home schooling, yet still growing Ubisecure as a leading identity specialist.
Ubisecure revenue growth & new market leadership position
Our 2020 milestones include:
- Great growth from both our Customer Identity and Access Management (CIAM) software, Identity Platform, and Legal Entity Identifier (LEI) service, RapidLEI. On top of our 100% revenue growth in 2019, we saw a 50%+ revenue growth in 2020 (CAGR of 70% over the last two years) despite the impact of the pandemic.
- RapidLEI went from being the fastest growing LEI provider to becoming the world’s #1 issuer of validated LEIs.
- RapidLEI also topping the charts for best data quality results amongst the GLEIF-accredited Local Operating Units (LOUs).
- We announced support for the new Global LEI Foundation Validation Agent (VA) model to support on-demand LEI issuance for Banks, Fintech, CAs and Business Registries.
- We launched many new CIAM and LEI partnerships, including technology alliances with Hitachi (finger vein biometrics), Omada (Identity and Governance Administration), and Verimi (pan-European consumer digital identity platform).
2021 – Looking forward
As I write this in the first week of January 2021, our teams across the organisation have already hit the ground running. We see an active, rapidly growing market, further driven by the current pandemic and ever-increasing cyber-attacks. This increase in malicious activity is leading organisations to ramp up cybersecurity efforts, including reviewing legacy Identity & Access Management solutions. More remote working serves to further blur the lines between ’employee’ and ‘customer’ identities, increasing the number of external identities an organisation manages. This has generated high demand for CIAM (Customer IAM) solutions, specifically built to streamline management of external identities, such as our Identity Platform.
Building on our role as an Organisation Identity Expert
Ubisecure’s plans for 2021 include further developments on our unique position as an Organisation Identity expert. We have strong recognition in this area both from analysts and from fellow identity management firms. We will continue to build on this capability, joining our LEI and CIAM business arms to launch our innovative representation governance solution, “Sign in with RapidLEI” service to enable individuals to assert a right to represent their organisation in financial transactions, legal signatures and more.
Self-Sovereign Identity (SSI)
The concept of Self-Sovereign Identity (SSI) is in its infancy and, in the general case, as yet independent of classical identity systems. As organisations seek services that can intertwine these systems, we will provide interoperation and also enable the issuance of organisation credentials as the result of LEI issuance (as now used in our “Sign in with RapidLEI” service).
Identity Trust Anchors
I also plan to continue educating on the importance of Trust Anchors through various media – how they enable online interaction, and how we have been implementing them for more than 10 years. I spoke on the subject at the virtual Digital Identity and Digital On-boarding for Banking conference at the end of 2020 – watch the video and others on the Ubisecure YouTube channel.
Expanding use of national, local, and federated digital identities
The Ubisecure CIAM platform has long supported the industry’s widest range of digital identity schemes, both at a national and enterprise level. In 2021, we will offer expanded support for identity verification from both existing identity platforms, like Germany-based Verimi, and real-time identity proofing, thanks to partnerships with organisations like Onfido.
Ubisecure 2020 in conclusion
Overall, while the ongoing impact of the pandemic on our personal lives in 2021 may continue, 2020 has shown us that Ubisecure is well-prepared to deliver business as usual whilst keeping our staff safely working from home. I look forward to talking more about our 2021 innovations and Ubisecure’s continued growth as the year pans out.