IdRamp is live on the Indicio to meet the growing demand for digital identity solutions

From: RegTech Analyst

As the digital identity market is set for massive growth in the next five years, IdRamp is one of the companies hoping to leverage the increasing demand for these services by joining forces with Indicio.

IdRamp has created a decentralised identity products and services and is from now on providing its market-ready solutions leveraging the Indicio Network, a professionally-run network for identity.

“Part of what adds value to our customers is quick and easy integration into their various legacy ecosystems,” said Mike Vesey, CEO of IdRamp. “Without having to lift and shift anything, businesses and organizations of all shapes and sizes can use decentralised identity to improve user experience by eliminating any need for passwords, increasing privacy by removing the need to share personal data with third party services like Twitter or Facebook and improving data protection by not storing personal data in central databases.

“This reduces cost by reducing investments in monolithic identity platforms. Having an enterprise grade network to deliver decentralised services for our customers is critical. We are excited to have Indicio Network providing IdRamp customers with a dependable, reliable, and robust enterprise ready network with experienced staff at the helm. Indicio provides the best-in-class distributed network that our customers need.”

The digital identity market is expected to grow from being worth $1.3bn in 2020 to being valued at $8.1bn in 2025.

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