Passing the milestone of 7 million users in Belgium, itsme^® records a profit of EUR 1,6 million

In 2023, the seven millionth Belgian signed in to the itsme^® app. And with more than 1 million actions executed each day, itsme^® is also being used more frequently. This can be seen from the annual figures just released by itsme^®. This growth also translates into excellent financial results, with the company recording a profit of EUR 1,6 million for the first time.

Six-and-a-half years after its launch, itsme^® continues to record strong growth figures, both in terms of users and number of actions. In fact, the mark of 7 million users was reached in November 2023, when the 7 millionth Belgian installed the itsme^® app on their smartphone. This means that more than 80% of the adult Belgian population aged 16 or over now has an itsme^® account. And every month, another 30,000 to 40,000 new users are added, not only in Belgium, but also in other countries. The app already supports 10 nationalities – and there are plans in place to expand even further in Europe this year (see below).

IDENTITY ACTIONS AND SIGNATURES

Every day, an average of 1 million identity actions are carried out using itsme^®, enabling users to identify themselves online and confirm transactions. In fact, the total number of actions recorded in 2023 was nearly 370 million, a 17% increase compared with 2022. Since 2023, you can also log in with itsme^® by scanning a QR code, instead of entering a mobile phone number. This is another feature that demonstrates how itsme^® is constantly committed to providing greater ease of use. 

However, the biggest rise in usage has been with itsme^® Sign, the service that enables you to sign your documents digitally. In 2023, Belgians used itsme^® to place a qualified electronic signature (QES) 1,5 million times. This electronic signature has the same legal value as a signature on paper. Compared with 2022, itsme^® Sign grew by 50%. The batch-signing functionality, whereby you can sign multiple documents in one go, significantly reduces the administrative burden for companies.

“Digital signatures are something we want to focus on more this year,” says itsme^® CEO, Stephanie De Bruyne. “For instance, we are working more closely with document platforms such as Adobe Acrobat Sign, Nitro, Dioss, DocuSign and Zeticon, making it a good deal cheaper for businesses to incorporate itsme^® into their signing requirements.”

It also means that electronic signatures will become much more accessible to consumers in the future. At the moment, the itsme^® e-signature is already widely used in the HR sector, as well as by accountancy and notary practices. New employment contracts or official notarised deeds can be signed effortlessly and securely with itsme^®.

FINANCIAL RESULTS

For many years now, itsme^® has been a tried-and-trusted login method for numerous government departments and private companies in Belgium. This is translating into excellent financial results, with the company recording a profit of 1,6 million EUR in 2023. ​ 

The number of partners in the private sector also expanded significantly in the past year, with household names such as the National Lottery, the Pro League, Eneco, Van Breda Insurance and Bsit using the app. More than 1000 private partners now use itsme^® services in their digital processes. 

In 2023, itsme^® also made its first acquisition: the Leuven-based spin-off, nextAuth, known for its strong cryptographic solution. The acquisition of nextAuth means that itsme^® is now also able to focus on authentication solutions that can be embedded in partners’ applications.

2024: A LOOK AHEAD

The year ahead also looks promising, with positive developments on a number of different fronts.

itsme^® in Europe: Users in the Netherlands and Luxembourg have been able to create and use an itsme^® account since 2022. Over the past few months, the Belgian success story has expanded to Estonia, Ireland, Italy, France, Portugal, Spain and the United Kingdom. Later this year, itsme^® will also become available in Norway, Sweden, Finland, Denmark and Iceland. Citizens of those countries will be able to link their own identity documents with itsme^®, as well as identify themselves using the app and sign documents. This is useful not only for expats in Belgium, but also for companies operating in Europe that want to appeal to customers of different nationalities. In particular, the itsme^® Sign function opens up numerous international opportunities. 

Digital wallets: Next to instances where itsme^® is already used today to identify you, enable you to log in, confirm transactions and sign documents, the app will also be deployed to share other data with the highest security level. For example, itsme^® will play a role in the new ecosystems emerging around digital wallets, such as the much-discussed personal ‘data vaults’ for citizens, allowing people to give permission for things such as diplomas and health data to be shared digitally. Using itsme^®, citizens will be able to give their permission for information from these data vaults to be shared with a third party, albeit without itsme^® being able to see this data. In this context, itsme^® is working, among others, with Athumi, the Flemish government’s data utility company. On the 21^st of March 2024, they will be presenting their first practical case at the Flanders Technology & Innovation Festival in Kortrijk. Doccle will also play an important role in organising these data flows. From their respective market positions, these parties are preferred partners to give the ecosystem around data sharing a huge boost.

Physical authentication: Even in the physical world, there are situations where you may need to prove your identity, such as when collecting important packages or documents from a deposit locker. Now, after a successful test phase, this capability will be rolled out further in 2024.