Identity verification solutions provider Regula has reported a 52 percent year-over-year increase in its global user base, now serving 152 million online users worldwide. The growth reflects increasing demand for advanced identity verification technologies across multiple sectors, including finance, e-commerce, government services, and travel.
Latin American markets showed particularly strong adoption, with Colombia experiencing 241 percent growth and Mexico seeing a 156 percent increase in users. The expansion in Mexico aligns with the country’s ongoing digital transformation in financial services, which has been developing since the implementation of biometric banking regulations in 2018.
“The growth across these markets is a direct response to regulatory developments, digital transformation efforts, and the increasing sophistication of fraud – all the factors that make identity verification paramount,” said Henry Patishman, Regula’s Executive VP of Identity Verification Solutions.
The company’s comprehensive identity verification solution includes the Regula Document Reader SDK, which was recently updated to support new ISO facial data standards, and the Regula Face SDK. The platform currently covers over 14,800 identity document templates across 251 countries and territories.
Market analysts project significant continued growth for the identity verification sector. Dr. Sarah Chen, principal analyst at Market Research Quarterly, notes that the global identity verification market is expected to reach $40.57 billion by 2032, growing at a compound annual growth rate of 19.98 percent from its 2024 valuation of $10 billion.
Regula’s expansion comes amid increasing regulatory scrutiny of identity verification technologies, particularly in Europe where recent regulatory actions have highlighted the importance of compliance with data protection standards. The company’s solutions are currently used by more than 1,000 organizations globally, including UBS, Checkport, and Pearson VUE.
Sources: Business Wire, Think Digital Partners
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March 6, 2025 – by Ji-seo Kim
