Identity (ID) Verification Industry Overview
The identity verification market is highly fragmented, with numerous competitors and competing technologies that provide intense rivalry among the players. Further, acquisitions and collaborations of large companies with startups are expected, focusing on innovation. Some of the players include Mastercard Incorporated, Onfido Limited, Idology Inc. (GB Group PLC), Intellicheck Inc., and Jumio Corporation.
- November 2023 - IDVerse, a digital ID verification provider, partnered with the Mastercard Engage Partner Program, aiming to offer an all-inclusive, seamless digital-first experience. As an eKYC provider in the program, IDVerse will provide Mastercard customers with a wholly automated global identity verification solution. This would aid in the fast-paced development and deployment of onboarding solutions designed with a digital-first approach.
- May 2023 - Onfido announced the acquisition of Airside Mobile, Inc., a global private digital identity-sharing technology provider. Airside’s privacy-first identity management technology, combined with Onfido’s innovative verification, enables a ‘verify once, use anywhere’ world, where consumers can manage their own digital identity stored on their smartphone and can use it to access new services without needing to verify again. This will transform the customer experiences across e-commerce, internet platforms, travel, financial services, and more, redefining the identity verification process.
Identity (ID) Verification Market Leaders
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Mastercard Incorporated
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Onfido Limited
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Idology Inc. (GB Group PLC)
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Intellicheck Inc.
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Jumio Corporation
- *Disclaimer: Major Players sorted in no particular order
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