Premier Domestic Bank Expands Its Partnership with Intellicheck

Rhea-AI Summary

Intellicheck (Nasdaq: IDN) has renewed and expanded its partnership with a leading U.S. bank, expecting to generate mid-seven figure annual revenue with an approximate 15% annual revenue increase from this customer.

The Mid-Atlantic-based banking institution, among the top ten banks and one of the largest issuers of Visa and MasterCard credit cards, is utilizing Intellicheck's identity verification technology for:

• Customer onboarding
• Account name verification
• Account modifications

The partnership expansion demonstrates the effectiveness of Intellicheck's digital and physical identity validation solutions in providing secure banking experiences while accelerating customer acquisitions and revenue generation.

Positive

• Partnership renewal secures mid-seven figure annual revenue
• 15% annual revenue increase expected from this customer
• Expansion with a top 10 U.S. bank validates technology effectiveness
• Partnership with major credit card issuer enhances market position

Negative

• None.

Insights

Financial Analyst

Intellicheck's expanded partnership with a top-ten U.S. bank represents a significant revenue catalyst for the identity verification company. The deal is expected to generate mid-seven figure annual revenue and drive approximately 15% revenue growth from this customer alone.

This partnership carries substantial weight given Intellicheck's current $48.4 million market capitalization. A mid-seven figure deal (likely $5-9 million) could represent roughly 10-18% of their entire market value, making this a material development for the company's financial outlook.

The expanded use case scope - now covering customer onboarding, account name verification, and account modifications - demonstrates deeper integration into the bank's core operations. This suggests increased switching costs and potential for long-term revenue stability.

This announcement is particularly meaningful for Intellicheck given their focus on financial institutions. Securing a marquee customer in the banking sector provides validation of their technology and creates reference selling opportunities with similar institutions. The partnership expands Intellicheck's footprint in the identity verification market, which continues to see strong demand as financial fraud increases and regulatory requirements tighten.

Partnership Expected to Result in Mid-Seven Figure Annual Revenue

MELVILLE, N.Y.--(BUSINESS WIRE)-- Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering proprietary on-demand digital and physical identity validation technology solutions, today announced the renewal and expansion of its partnership with a preeminent U.S. bank is expected to drive an approximate 15% annual revenue increase from this important customer.

Intellicheck CEO Bryan Lewis said the expansion of the collaboration is a testament to the distinct advantages Intellicheck’s proven technology solutions provide. “The extension of our partnership with this marquee customer highlights the value of our innovative identity verification solutions. We are proud to play a pivotal role in fostering customer trust, while enhancing revenue generating capabilities through a secure and efficient banking experience.”

The growth of the collaboration underscores the bank’s recognition of the effectiveness of Intellicheck’s technology solutions in providing good customers with the highest level of security and convenience in a seamless and secure banking experience while bringing revenue generating capabilities online faster, achieving greater productivity gains and accelerating customer acquisitions. This renowned financial institution is using Intellicheck’s innovative technology to facilitate customer onboarding, account name verification, and account modifications.

Headquartered in the Mid-Atlantic, the banking giant is one of the most widely recognized brands in banking. It specializes in credit cards, auto loans, banking and savings accounts. The top ten bank is one of the largest issuers of Visa and MasterCard credit cards and is one of the largest car finance companies in the U.S.

Intellicheck provides both digital and physical identity verification solutions to industries where speed and certainty is crucial. Intellicheck’s approach to proving identity is unique. It enables a frictionless customer experience that seamlessly fits into existing workflows using existing technology, scanning devices or Intellicheck’s mobile app. Intellicheck’s technology solutions provide an identity verification process that creates a competitive advantage for every business by facilitating rapid customer acquisition and on-going customer retention and trust at the point of service, while preventing unauthorized ID use and stopping identity-based fraud.

About Intellicheck
Intellicheck is the leader in fraud identity management, delivering on-demand digital and physical identity verification solutions for KYC, AML, fraud prevention, and age verification needs. Our solution enables you to bring revenue generating capabilities online faster, so you can achieve greater productivity gains and accelerate customer acquisition. With more than two decades of experience, our mission is to provide seamless, invisible customer experiences with 99% decision rates in under a second. Each year, we validate more than 100 million identities across North America. For more information on Intellicheck, visit us on the web and follow us on LinkedIn, X, Facebook, and YouTube.

Safe Harbor Statement
Statements in this news release about Intellicheck’s future expectations, including: the advantages of our products, future demand for Intellicheck’s existing and future products, whether brand value and market awareness will grow, whether the Company can leverage existing partnerships or enter into new ones, and all other statements in this release, other than historical facts, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These statements, which express management’s current views concerning future events, trends, contingencies or results, appear at various places in this release and use words like “anticipate,” “assume,” “believe,” “continue,” “estimate,” “expect,” “forecast,” “future,” “intend,” “plan,” “potential,” “predict,” “project,” “sense”, “strategy,” “target” and similar terms, and future or conditional tense verbs like “could,” “may,” “might,” “should,” “will” and “would” are forward-looking statements within the meaning of the PSLRA. This statement is included for the express purpose of availing Intellicheck, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as: market acceptance of our products and the presently anticipated growth in the commercial adoption of our products and services; our ability to successfully transition pilot programs into formal commercial scale programs; continued adoption of our SaaS product offerings; changing levels of demand for our current and future products; our ability to reduce or maintain expenses while increasing sales; our ability to successfully expand the sales of our products and services into new areas including health care; customer results achieved using our products in both the short and long term; success of future research and development activities; and results of operations; our ability to successfully market and sell our products, any delays or difficulties in our supply chain coupled with the typically long sales and implementation cycle for our products; our ability to enforce our intellectual property rights; changes in laws and regulations applicable to the our products; our continued ability to access government-provided data; the risks inherent in doing business with the government including audits and contract cancellations; liability resulting from any security breaches or product failure, together with other risks detailed from time to time in our reports filed with the SEC. We do not assume any obligation to update the forward-looking information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250311994210/en/

Media and Public Relations: Sharon Schultz (302) 539-3747 / sschultz@intellicheck.com

Investor Relations: Gar Jackson (949) 873-2789 / gjackson@intellicheck.com

Source: Intellicheck, Inc.

FAQ

What is the expected revenue increase for Intellicheck (IDN) from the expanded bank partnership?

The partnership is expected to generate a 15% annual revenue increase, reaching mid-seven figures annually.

How is the partner bank utilizing Intellicheck's (IDN) identity verification technology?

The bank uses Intellicheck's technology for customer onboarding, account name verification, and account modifications.

What are the key benefits of Intellicheck's (IDN) identity verification solution for banks?

The solution provides enhanced security, seamless customer experience, faster revenue generation, improved productivity, and accelerated customer acquisitions.

Where is the partner bank located and what are its main business areas?

The bank is headquartered in the Mid-Atlantic region, specializing in credit cards, auto loans, banking and savings accounts, and is among the largest car finance companies in the U.S.