iiDENTIFii Gets Luminary Status in Prism Financial Services Report

iiDENTIFii, a specialist in remote biometric identity verification, has been acknowledged as a Luminary in the latest Prism Financial Services report. The recognition highlights iiDENTIFii’s significant contributions and advancements in digital identity technologies within the sector.

In The Prism Project’s analysis, Luminary status is awarded to companies that exhibit exceptional proficiency and performance, setting trends and standards in the biometric digital identity landscape. Luminaries are distinguished by their innovation, influence, and leadership, often driving the market forward with their cutting-edge technologies and best practices.

“We are thrilled to be named a Luminary in the Prism Financial Services report,” said iiDENTIFii CEO Gur Geva.

iiDENTIFii’s remote face authentication platform stands out for its adherence to stringent global audit and assurance standards, ensuring compliance with regulatory frameworks such as Know Your Customer (KYC) and Anti-Money Laundering (AML). The company’s patented 4D Liveness technology is particularly noted for its effectiveness against deepfake and digital replay attacks, offering enhanced security for digital transactions.

The Prism report’s recognition adds to a series of awards that iiDENTIFii has received over the years, cementing its reputation as a leader in the biometric and digital identity sectors.

Released late last month, Acuity Market Intelligence’s Financial Services Prism Report reveals significant growth opportunities for biometric technology in the financial sector, projecting global revenues to grow at a 41.2% compound annual growth rate (CAGR), reaching over $40 billion by 2028.

North America is anticipated to lead in revenue, increasing from $1.181 billion in 2024 to $5.365 billion in 2028, while the Asia-Pacific region is expected to dominate transaction volumes, rising from 68.641 billion transactions in 2024 to 294.972 billion in 2028. Financial services organizations are motivated to adopt biometric technologies to enhance efficiency, automate processes, and improve fraud protection and risk mitigation.

The report also highlights challenges such as digital transformation, cybersecurity threats, regulatory requirements, and evolving customer expectations. Biometric solutions are seen as essential in addressing these challenges by streamlining processes, ensuring regulatory compliance, and enhancing customer experiences.

The report is available for download now. To hear further insights from The Prism Project lead and Acuity Market Intelligence Principal Analyst Maxine Most, check out her recent episode of the ID Talk podcast.

Source: Head Topics

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June 14, 2024 – by Tony Bitzionis

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