From: RegTech Analyst
Secure onboarding has grown in importance ever since the 2008 financial meltdown and it seems as if the identity verification market is growing in response to the rising demand.
The market is expected to grow from $7.6bn in 2020 to be worth $15.8bn by 2025, at a compound annual growth rate of 15.6% during the forecast period, according to new research from MarketAndMarkets.
The research identified growing digitalisation with initiatives, rising fraud and identity thefts as key drivers behind the growth.
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