Moreover, more than half of the financial institutions and banks have adopted identity verification systems. For instance, according to Trulioo, a global identity verification provider, around 72% of online marketplaces have expanded their adoption of ID verification technology during this global pandemic. An increase in the number of cybercrimes enables cybercriminals to hack highly advanced and sophisticated bank accounts and convert them into opening interest payment accounts, online merchant accounts, and fake mobile phone accounts using stolen credentials.ĭuring the COVID-19 pandemic, various organizations ramped up their identity verification processes in an attempt to safeguard customers from fraud. Businesses are frequently becoming dependent on computer networks and digital data to manage their daily business operations and processes. The increasing frequency of identity theft and cyberattacks is driving identity verification market growth. 21, 2022 (GLOBE NEWSWIRE) - The "Identity Verification: Global Markets 2021-2026" report has been added to 's offering.
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