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This market overview explores key trends within the document ID&V market and discusses how technology is evolving to address challenges and provide robust and trustworthy services for financial institutions. It is based on in-depth analysis of 10 vendors in this space that are participating in an Aite Matrix evaluation of global document ID&V solutions and discussions with 28 clients using these solutions. It is further augmented by research on other market players conducted by Aite Group, including vendor product demonstrations.
With these solutions, users present some form of identification (commonly a government-issued document such as a driver’s license, passport, or ID card containing the user’s photograph) and a selfie image. Solution providers perform several checks to validate the document and compare the photo on the document to the selfie to ensure they represent the same person.
Download the report to learn about the different types of solution providers, how they handle different document types, and which industries are adopting and deploying this technology.
"In 2018, there were less than 20 vendors. Today, nearly 50 vendors offer this capability."
This report provides insights into small businesses' attitudes toward fintechs, and their need for their products and services. Additionally, it helps build the business case for banks to partner with these companies and the capabilities they should seek when doing so.
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