- In February 2024, AU10TIX introduced a new Know Your Business (KYB) solution aimed at enhancing partner verification and risk mitigation. By integrating KYB with Know Your Customer (KYC) processes, this solution offers comprehensive identity verification capabilities, supporting secure business engagements and boosting trust in financial transactions
- In January 2024, Onfido launched an all-in-one identity verification solution designed to help enterprises streamline customer onboarding. The platform enables businesses to comply with local regulatory standards, facilitating smooth expansion into new markets and improving user acquisition
- In December 2023, HireRight, LLC released “Global ID,” a digital identity verification tool featuring biometric face matching and digital liveness detection. This innovation strengthens the hiring process by ensuring candidate authenticity, thus improving compliance and reducing the risk of identity fraud
- In October 2023, Veriff unveiled two fraud prevention tools to expand its identity verification suite. Leveraging machine learning, behavioral analysis, and biometric verification, these tools help businesses detect and block fraudulent activities, enhancing overall security
- In October 2023, IDology, a GBG company, expanded its identity solutions for the gaming industry, focusing on player acquisition, retention, and fraud prevention. This development enhances regulatory compliance and operational efficiency, offering gaming operators a more secure and user-friendly experience
Frequently Asked Questions
The market is segmented based on Segmentation, By Application (Credit Card Fraud, Bank Fraud, Phone or Utility Fraud, and Employment or Tax-related Fraud), Component (Solution and Services), Type (Non-Biometrics and Biometrics), Deployment Mode (On-Premise and Cloud), Organization Size (Large Enterprises and SME’S), Vertical (BFSI, Government & Defense, Energy & Utilities, Retail & Ecommerce, IT & Telecom, Healthcare, Gaming, and Others)- Industry Trends and Forecast to 2032
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The Global Identity Verification Market size was valued at USD 12.89 USD Billion in 2024.
The Global Identity Verification Market is projected to grow at a CAGR of 15.34% during the forecast period of 2025 to 2032.
The major players operating in the market include Experian , G.B. Group plc , EquifaxInc. , Mitek SystemsInc. , Thales , LexisNexis Risk Solutions , Onfido , Trulioo , AcuantInc. , IDEMIA , Jumio , TransUnion LLC , AU10TIX , IDology , Innovatrics , Applied Recognition , Signicat , SecureKey Technologies Inc. , and Baldor Technologies Pvt Ltd .
The market report covers data from the North America.
