Regula

46% of respondents reported that up to 75% of banking identity verification processes are currently automated.

38% of banks expect their identity verification budgets to grow by 21-50% in the coming years.

76% of banks and 78% of fintech companies reported needing more personnel to manage fraud risk effectively.

30% of banks reported that they face synthetic identity fraud, which blends fake and real personal data to bypass verification.

40% of fintech companies reported that onboarding is the core fraud battleground, highlighting the importance of this stage in fraud prevention.

26% of banks and 32% of fintech companies reported facing cases where users presented counterfeit or altered documents.

71% of banking respondents indicated that fraud prevention is a priority for their organization.

Adoption of multi-factor authentication (MFA) in fintech is projected to increase from 23% to 31%.

26% of companies in the crypto industry view biometric verification as their primary fraud-prevention tool.

One in three businesses worldwide has been impacted by deepfakes and other impersonation attacks.

23% of companies globally utilize behavioral biometrics for fraud prevention.

22% of companies globally employ basic biometrics such as fingerprints and face scans for fraud prevention.

40% of companies globally currently use multi-factor authentication (MFA) for fraud prevention.

26% of companies in the healthcare industry identify biometric verification as their leading fraud-prevention tool.

29% of companies in the aviation industry consider biometric verification their top fraud-prevention tool.