Xydus has announced its rebranded emergence after a record-breaking year which saw sales increase six-fold as it closed its largest-ever deals.
Previously known as Paycasso, Xydus built its technology platform and credibility for over a decade by working with the some of the world’s most trusted brands such as PWC, EY, TransUnion, Equifax, Philip Morris International, Irish Life and notably, the UK’s National Health Service, Europe’s largest employer.
Hybrid working fuels growth
Focusing on identity technology perfectly positioned Xydus’s cloud services and helped the team to win new deals as employee and consumer engagement moved massively to digital during lockdown. The shift to flexible working supercharged an already buoyant demand for Xydus’ (Paycasso’s) digital identity software, as employers transitioned to managing remote workforces who require digital access and consumers increased their use of e-commerce.
Demand was particularly strong for organisations with large, geographically dispersed, consumer markets and significant workforces across multiple jurisdictions, such as healthcare and financial services, in the US and Europe.
How Xydus works
The Xydus platform uses technologies such as facial recognition, biometrics, machine learning and multi-layered encryption, which allows workers to enrol and reuse their individual identity across the enterprise in seconds. Previously this could take hours, days or weeks.
The advantage for employers is a seamless onboarding experience and secure access to corporate systems and access points without the need to deploy overstretched IT or HR resources. For consumers, it simplifies and streamlines their experience as they access today’s thousands of digital services.
Xydus CEO, Russell King, comments: “Recent years have seen massive disruption to the working patterns and online behaviours of billions of consumers and employers, making Xydus more relevant than ever. A decade ago, faced with a digitally expanding world, we could not think of a much bigger challenge to address than core identity. It is this consistent focus in addressing the challenges in identity management which is now paying dividends for Xydus. This last year’s spectacular sales growth reflects how the need to solve identity issues for this expansive world is only going to grow.”