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Jumio report highlights cross-sector growth of digital ID in response to pandemic

Banks still at the forefront
Jumio report highlights cross-sector growth of digital ID in response to pandemic
 

California-based selfie biometrics and KYC provider Jumio has published a new report highlighting new digital identity trends across a number of industries.

According to the company, providing a digital identity to create an online account or complete bank transactions is becoming increasingly common globally.

Conducted by third-party firm Opinium, the research analyzed the answers of 8,000 consumers across the UK, U.S., Singapore, and Mexico.

The report found that 57 percent of respondents globally (on average) said they ‘constantly’ or ‘often’ have to verify their digital identity. Singapore ranked at the top of the list, with 70 percent of those surveyed saying they often use digital ID, followed by Mexico (55 percent) U.S. (52 percent), and the UK (50 percent).

Further, 80 percent of consumers said they prefer identity verification measures when choosing online brands.

In terms of industries adopting digital ID solutions, Jumio said banks were ahead of the curve with robust identity verification, with 61 percent of respondents saying they felt their bank had done more to help protect them against online fraud since the pandemic.

“Consumers are increasingly confident that banks are actively implementing robust identity verification solutions,” reads the report.

At the same time, gambling and social media sites lag behind when it comes to the adoption of digital ID solutions, with only 41 percent of respondents saying they felt confident companies in these industries are doing what they can to tackle identity fraud.

Trust in age verification solutions online was also relatively low, with 39 percent of consumers having confidence in social media sites and others serving age-restricted services such as pornography (36 percent).

The last trend analyzed by the Jumio report suggests there are many opportunities for businesses to deploy identity verification measures in order to respond to consumer concerns.

“In online healthcare, one-third of consumers [32 percent] are most concerned about the identity of the healthcare practitioner they are engaging with,” Jumio writes.

Additionally, 83 percent of respondents said they think it is important for social media sites to verify identity to hold users accountable for online hate/speech.

The Digital Identity in 2022 Global Consumer Research report comes weeks after Jumio reported the highest quarterly sales ever for its digital identity proofing tech.

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