“COVID has fundamentally changed trajectory of digital transformation,” Acuity Market Research Principal Analyst and Chief Strategist Maxine Most said during a keynote address at the Find Biometrics Identity Summit.

The evolution of IT and global business in general has been accelerated, and Most points to an IDC forecast that $6.8 trillion will be invested in digital transformation by 2023.

The inaugural FindBiometrics Identity Summit is a wrap, and preparations are now underway for the Enterprise Biometrics Online Summit in September.

A look back at last week’s virtual conference offers some idea of what to expect for the next one. The FindBiometrics Identity Summit was kicked off by Acuity Market Intelligence Principal Analyst Maxine Most, who delivered a rousing presentation – entitled “Harnessing the Tornado” – illustrating just how much excitement there is in the fast-rising financial services biometrics market.

According to new research from Acuity Market Intelligence, COVID-driven acceleration of digital transformation has intensified the need for secure, reliable, and trusted digital identity. Citizen and consumer embrace of “digital first” and “digital only” in the wake of pandemic safety concerns and restrictions has opened the floodgates of digitally enabled fraud. Biometric face verification and liveness detection are being widely deployed to address this unprecedented digital security threat quickly becoming synonymous with secure remote digital onboarding.

According to new research from Acuity Market Intelligence, COVID-driven acceleration of digital transformation has intensified the need for secure, reliable, and trusted digital identity. Citizen and consumer embrace of “digital first” and “digital only” in the wake of pandemic safety concerns and restrictions has opened the floodgates of digitally enabled fraud. Biometric face verification and liveness detection are being widely deployed to address this unprecedented digital security threat quickly becoming synonymous with secure remote digital onboarding.

"Acuity projects that the overall global identity verification market will see revenues in the range of $15 to $18 billion by 2024.”

Biometric Selfie-based Onboarding is Seeing 'Explosive' Growth in Wake of COVID-19: Acuity
The COVID-19 pandemic is driving ‘explosive’ growth in the face-based biometric onboarding market, according to a new report from renowned industry research firm Acuity Market Intelligence.