Digital Customer Service Firm FaceKom Says Will go Public After Record Year

Fintech

Zsigmond Bodnár, founder of FaceKom

FaceKom, a Hungarian-owned company that is a market leader in corporate remote digital customer identification, has said it plans to go public after closing 2021 with record revenue and profits.

The IT service provider, which has grown from a startup to a mid-sized company in the last three years, provides solutions for digital customer identification, electronic signatures, and related digital customer services to actors in the financial, fintech, and public administration sectors. These include the most significant domestic and international banks, like OTP, K&H, MKB, Raiffeisen, UniCredit, and Budapest Bank.

“In recent years, we have laid a solid foundation for FaceKom, earned remarkable references, and achieved a leading position in several fields. As a result, our sales revenue and profit have increased significantly, which allows us to step up to another level of dynamic growth,” said Zsigmond Bodnár, founder of FaceKom.

“From 2023, we want to expand further, increase our sales revenue and profits, and gain a dominant or even market-leading position in new fields.”

Bodnár went on to add, “This is a year of development: we are planning to introduce services that will be pioneering in the international markets, which are currently being developed.” The firm aims to further increase its sales revenue and profits in the coming years, while also planning to enter the Budapest Stock Exchange.

Growth Trajectory

The company’s goal is to continue its growth trajectory by moving into the international arena and the Budapest Stock Exchange within three years, Bodnár explained. FaceKom noted that the specific preparation process would start later, with the preliminary procedures being worked on now, as well as the development of new products and services.

FaceKom has increased its sales revenue more than fivefold to HUF 1.6 billion, while its after-tax profit has grown more than eightfold to HUF 717 million in the last three years.

Founded in 2012, the firm has become the market leader in corporate remote digital customer identification in Hungary in recent years, which forms the basis on which the company’s outstanding growth is built.

The real breakthrough came in 2020, after the coronavirus pandemic outbreak, when the demand for digital customer service channels grew enormously, mainly in the banking, public utilities, and government sectors, the company says. The introduction of digital customer service solutions has enabled reliable administration and identification that does not require a personal presence.

FaceKom, which now employs more than 40 people, introduced new services in 2021 and attracted funding from the Central European Opportunity private equity fund managed by Equilor Fund Manager to support growth. So far, FaceKom has identified more than 600,000 clients and helped to sign more than 80,000 documents.

This article was first published in the Budapest Business Journal print issue of June 17, 2022.

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