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COVID-19 Driving an Acceleration in Adoption of Identity Verification

– Security Magazine

  • News
  • Posted by Good ID team (Good ID)
  • 3 November 2020

UK and US businesses have been using identity verification more amid the COVID-19 pandemic, in order to protect customers

According to reported research, adoption of ID verification technology has been rapidly on the rise in order to verify identities of customers and users, as more transactions occur online.

“New research from Trulioo, identity verification provider, found that almost three quarters (72%) of online marketplaces have increased their adoption of ID verification technology as a direct consequence of COVID-19. And more than half (52%) of financial services organizations have done so.”

Security Magazine also note that while COVID-19 has been a key factor, companies are also adopting ID verification to improve customer trust, meet evolving needs, and address tighter regulation requirements.

Perhaps most importantly given the current focus on driving online trust during the pandemic, almost three quarters (74%) of people said the account opening process can ‘make or break’ their future relationship with an online marketplace brand

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