Identity Verification Market Driven by Digital Onboarding Demand

Identity Verification Market Driven by Digital Onboarding Demand

Goode Intelligence has published a new White Paper that highlights the importance of secure digital identity verification. Titled “The Digital Identity Problem – Solving the issue of trust,” the free paper suggests that reliable verification is essential because enterprises need to know the identities of their customers in order to safely do business with those individuals.  

The goal is to make sure that any potential clients are in fact real people, and that those people match the information they have presented. That allows a business to know that the client has the authority to act on their own behalf, and establishes a level of trust that is often missing without a face-to-face interaction.       

The paper specifically marks genuine presence assurance, document capture, and risk mitigation as key objectives for identity verification tech. According to Goode, the need for digital onboarding, age verification, and other related services will drive the digital identity market to $15 billion by 2024.

That $15 billion figure comes from an earlier Goode Intelligence report published in May. The new White Paper features case studies and market analysis from that report, using them as examples to help answer the questions presented at the top. Previous Goode reports have noted that secure identity verification and anti-money laundering tech will be particularly vital for financial service providers that need to establish trust for banking and mobile payments.

(Originally posted on Mobile ID World)