Future of Global Identity Verification

Among organisations with over 10,000 employees, 20% have an annual direct and indirect identity fraud cost of over $50 million.

21% of organisations reported fraud attempts against facial biometric liveness detection.

Organisations with over 5,000 employees have an annual direct identity fraud cost of $13 million on average.

58% of respondents said that they are concerned that stricter fraud controls will frustrate consumers.

70% of respondents agreed that investing in technology is the best way to mitigate the financial risk of identity fraud.

Compared to those investing at an average level, high investors into IDV solutions are 2.2x more likely to see savings compared to companies investing the same or less.

Organisations that invested in IDV solutions reported savings averaging $8 million.

Identity fraud costs organisations an average of $7 million annually.

74% of organizations plan on increasing their investments in IDV solutions in the future.

Compared to those investing at an average level, high investors into IDV solutions are 2.7x more likely to believe they have a competitive advantage.

69% of organisations reported increased fraud attempts.

Compared to those investing at an average level, high investors into IDV solutions are 1.6x more likely to report a positive impact on their brand

51% of respondents said fraud is more common when using username and password alone.

Compared to those investing at an average level, high investors into IDV solutions are 1.7x more likely to have significantly reduced identity fraud.