BASINGSTOKE, England, Aug 30 (Bernama-BUSINESS WIRE) — A new study from Juniper Research has found spend on digital identity verification checks will reach $20.8 billion globally in 2027; up from $11.6 billion in 2022. It predicts this growth will be driven by both the increasing prevalence of digital services requiring digital onboarding journeys, and the growing requirement for more advanced and robust identity verification systems in the face of rising fraud.
Digital identity verification is where identity is checked using digitally verifiable elements, such as selfie scans, address checks and knowledge-based authentication.