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.

COVID drives market growth of face verification and liveness detection for remote digital onboarding
Monday 22 February 2021 10:44 CET | News

COVID-driven acceleration of digital transformation has intensified the need for secure, reliable, and trusted digital identity, according to new research from Acuity Market Intelligence.

Biometric face verification and liveness detection are being widely deployed to address ‘digital first’ and ‘digital only’ needs for businesses. With global identity verification revenues projected to reach USD 15 to USD 18 billion annually by 2024, there is room for growth.

With the market heating up, Acuity Market Intelligence has published a ‘constellation report’ on the market landscape for face biometrics verification and liveness checks for remote digital onboarding.

The biometric onboarding market has become crowded, with vendors focused on digital onboarding solutions, identity verification platforms, biometric core technologies, and biometric identity platforms, as well as the “big three” biometric identity companies; Idemia, NEC and Thales. The report covers two dozen biometric technology providers, and evaluates them based on innovation and market position.

Innovatrics will host a webinar on Thursday, October 29 at 1:00pm on ‘Digital Onboarding: From Vision to Value,” featuring Acuity Market Research Principal Analyst Maxine Most.

Clear’s vision for its fingerprint, iris-scanning, and facial recognition business goes beyond kiosks in airports or sports areas — it wants to be a holistic identity verification platform, covering more intimate moments in our everyday lives.