Digital Identity & Document Verification Market & Technology Analysis Adoption Strategies & Forecasts 2019-2024 is a 172 page in-depth investigation of the market for digital identity & document verification services.
Author: Alan Goode
Publication Date: May 24 2019
Number of Pages: 172
An investigation into the market for digital identity and document verification services. This comprehensive report includes a review of current global adoption, market analysis including key drivers and barriers for adoption, interviews with leading stakeholders, technology analysis with review of key technologies and profiles of companies supplying solutions across key verticals plus forecasts (regional and global) for verification checks (transactional), biometric technologies, and revenue within the six-year period 2019 to 2024.
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This report reveals that improvements in facial recognition and document verification aided by machine learning and artificial intelligence technology in combination to access to a wide range of verifiable identity signals and data is leading to increasing levels of adoption for next generation identity and document verification services.
Goode Intelligence considers that digital identity and document verification services solve an immediate problem in proving an individual’s identity. Specifically, digital identity and document verification answer the questions:
1. Is it a real user?
2. Is the user authorised to use the data it presented?
3. Can the service provider conduct business with the user?
4. What is the risk of doing business with the user?
The ability to onboard new customers to services through remote digital channels, web and mobile, is a pressing need for many organisations that are looking to reduce their physical footprint and support digital transformation projects. Digital identity and document verification services aim to support digital onboarding and meet the latest Anti-Money Laundering (AML), Know Your Customer (KYC) and Customer Due Diligence (CDD) regulation.
A combination of ever-more accurate facial recognition, document verification and a wider variety of verifiable identity sources (data and signals) increasingly powered by machine learning and artificial intelligence is enabling service providers to adopt digital identity and document verification services in ever-increasing numbers. With a number of organisations already achieving significant revenue and growth, we consider this to be a particularly exciting trend which will be reflected in market revenues over the coming years.
The market for Digital Identity and document verification services is particularly buoyant with hundreds of millions of dollars of investment and intense activity from an M&A perspective. With the market offering the ecosystem significant potential for growth opportunities, Goode Intelligence forecasts revenues of over US$15 billion by 2024 – a CAGR of 20 percent over the six-year period.
The 172 page report includes a comprehensive review of current global adoption, market analysis including key drivers and barriers for adoption, in-depth interviews with leading stakeholders, technology analysis and profiles of companies supplying products and services in this area along with detailed forecasts (regional and global) for digital identity and document verification checks (segmented into current important vertical sectors), biometric technology and revenue within the six-year period 2019 to 2024.
Organisations Referenced in this Report: Acuant, Apple, Applied Recognition, BAE Systems Applied Intelligence, Bangkok Bank, BehavioSec, Biometric Signature ID, BioCatch, Callsign, Daon, Experian, FaceTec, GBG, Gemalto, a Thales company, HooYu, IDEMIA, IDology, InnoValor, iProov, Jumio, Lyft, Melissa, Microblink, Mitek, Monzo, NCR, NIST, Onfido, Rank Group, RVshare, Seven Bank, SmartPay, Socure, Telefónica Deutschland, Trulioo, TypingDNA, Yoti, Z1 Motorsports.
Table of Contents
Forward
Goode Intelligence
Author
Goode Intelligence Methodology
Regional Definitions
Executive Summary
ES1: Report Scope
ES2: Market and Technology Analysis
ES2.1: Digital Identity Verification Services Definition
ES2.1.1 Digital On-Boarding
ES2.2: Market Drivers and Barriers
ES2.2.1: Market Drivers
ES2.2.2: Market Barriers
ES2.3: Regulation
ES2.4 Technology and Market Adoption
ES2.4.1: Market Adoption and Analysis
ES2.4.1.1: Financial Services
ES2.4.1.2: eCommerce
ES2.4.1.3: Telecommunications
ES2.4.1.4: Gaming
ES2.4.1.5: Retail – Physical
ES2.5: Technology – Analysis and Vendors
ES2.5.1: Introduction
ES2.5.2: Pricing Models
ES2.5.3: Genuine Presence Assurance Using Biometrics
ES2.5.3.1: Liveness and Spoof Detection – Presentation Attack Detection
ES2.5.4: Document Capture & Verification
ES2.5.5: Corroboration, Risk Management & Orchestration
ES2.5.5.1: Behavioral Biometrics – Stopping Fraudsters at the Gate
ES2.5.5.2: Identity Signals & Data
ES3: Forecasts
ES3.1 Methodology and Assumptions
ES3.2 Forecasts
ES3.2.1 Introduction
ES3.2.2 Digital Identity Verification Forecasts – Per Check
ES3.2.2.1 Biometric Technology Forecasts – Digital Identity & Document Verification
ES3.2.3 Revenue Forecasts
ES3.2.3.1 Digital Identity Verification Revenue Forecasts
ES3.2.3.2 Biometrics for Digital Identity Verification Revenue Forecasts
ES4: Conclusion
Market and Technology Analysis
Introduction
Digital Identity Verification Services Definition
Digital On-Boarding
Market Drivers and Barriers
Market Drivers
Market Barriers
Regulation
Introduction
AML & KYC
EU Anti-Money Laundering Directive 5 (5MLD)
Thailand Digital ID Bill – Facilitating e-KYC
Government Digital Identity Initiatives
EU eIDAS
The Digital Identification and Authentication Council of Canada
European Union (EU) General Data Protection Regulation (GDPR)
Technology and Market Adoption
Market Adoption and Analysis
Financial Services
Introduction
Europe – UK
Rest of APAC – Japan
Rest of APAC – Thailand
eCommerce
Introduction
Europe – UK
North America – USA
Sharing Economy
Introduction
North America – USA
Telecommunications
eIDV Service Provider
Trulioo Mobile ID
Telecom Operator Customers
GSMA Mobile Connect
Europe – Germany
Gaming
Introduction
Europe – UK
Retail - Physical
Introduction
NCR integrates facial recognition into its “Fastlane” tills to support identity verification
Technology – Analysis and Vendors
Introduction
Pricing Models
Genuine Presence Assurance Using Biometrics
Introduction
Facial Recognition
Device-Based (local) Face Biometric Models
Introduction
Merits and Disadvantages of Device Based Biometric Authentication
Cloud-Based Biometric Models
Introduction
Merits and Disadvantages of Cloud Based Biometric Authentication
Liveness and Spoof Detection – Presentation Attack Detection
Biometric Performance and Accuracy
Facial Recognition Vendors
Applied Recognition
Daon
Interview with Clive Bourke, President – EMEA and APAC, Daon
FaceTec
IDEMIA
iProov
Interview with Andrew Bud, CEO, iProov
Document Capture and Verification
Introduction
Accuracy Rates with Document Capture and Verification
Document Capture & Verification Vendors
Acuant
GBG
Gemalto, A Thales company
IDEMIA
Interview with Guillaume Yribarren, VP Marketing at IDEMIA
Innovalo
Jumio
Microblink
Mitek
Onfido
Interview with Kevin Trilli, Chief product Officer at Onfido
Yoti
Corroboration, Risk Management and Orchestration
Introduction
The case for continuous identity verification
Behavioral Biometrics – Stopping Fraudsters at the Gate
Behavioral Biometrics - Technology Vendors and Service Providers
BehavioSec
Biometric Signature ID
BioCatch
TypingDNA
Pricing
Identity Signals and Data
Identity Signals and Data Vendors
BAE Systems AI
Interview with Enda Shirley, Product Manager CDD/KYC at BAE Systems Applied Intelligence
Callsign
Interview with Yogesh Patel, CTO & Head of AI Research at Callsign
Experian
Interview with David Britton, VP Industry Solutions, Experian
Hooyu
Socure
Trulioo
Forecasts
Methodology and Assumptions
Digital Identity & Document Verification Forecasts
Introduction
Digital Identity Verification Forecasts – Per Check
Banking, Financial Services & Insurance (BFSI) Digital Identity & Document Verification Checks
eCommerce Digital Identity & Document Verification Checks
Telecommunications Digital Identity & Document Verification Checks
Gaming Digital Identity & Document Verification Checks
Retail (Physical) Digital Identity & Document Verification Checks
Total Digital Identity & Document Verification Checks
Biometric Technology Forecasts – Digital Identity & Document Verification
Face Biometric Licenses for Digital Identity & Document Verification
Behavioral Biometric Licenses for Digital Identity & Document Verification
Biometric Chip Reads (NFC) for Digital Identity & Document Verification
Digital Identity and Document Verification Revenue Forecasts
Assumptions on revenue forecasts
BFSI Digital Identity & Document Verification Revenue Forecasts
eCommerce Digital Identity & Document Verification Revenue Forecasts
Telecommunications Digital Identity & Document Verification Revenue Forecasts
Gaming Digital Identity & Document Verification Revenue Forecasts
Physical Retail Digital Identity & Document Verification Revenue Forecasts
Total Digital Identity & Document Verification Revenue Forecasts
Face Biometrics for Identity & Document Verification Revenue Forecasts
Behavioral Biometrics for Identity & Document Verification Revenue Forecasts
Biometric Chip Reads for Identity & Document Verification Revenue Forecasts
