Car rental application indicator of expanding IDV market

A common dream scenario described at digital identity conferences has become a reality in Mexico, where a partnership between Avis and Clear is allowing customers to skip the rental counter and pick up their car using biometric identity verification.

Similar to Clear’s airport deployments, the Avis outlet at Cancun International Airport will have three customer service kiosks dedicated to biometric facial recognition for seamless vehicle pickup. The system is available to Avis Preferred Members and non-members, the latter of which can provide credentials in advance and receive a rental agreement with a personal QR code to be scanned at the exit gate.

Clear has been an Avis partner since 2023, and launching the get-in-your-rental-and-go system in Cancun adds a significant complement to their TSA Precheck offering. Digital ID for airports is valuable territory for biometrics and IDV providers, and establishing services at two major touchpoints gives Clear an advantage that could easily grow with expansion to more rental locations.

Clear saw its highest-ever revenues and net income in 2024, putting in on a strong growth trajectory. Its deal with Uber to provide rider verification is a good illustration of CEO Caryn Seidman-Becker’s vision for a biometric ecosystem that “has to be everywhere.”

Regula, Veriff, Ondato post wins in booming IDV market

Clear is not the only firm benefitting from a boom in demand for digital identity verification. A release from Regula says the developer of forensic devices and identity verification tools is now providing IDV software to 152 million online users worldwide – a 52 percent increase in growth over the previous year.

Spikes in the U.S. identity verification market, stricter regulations in Europe and explosive growth in fintech and digital payments globally helped account for the Latvian firm’s gains.

“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,” says Henry Patishman, executive VP of identity verification solutions at Regula. By leveraging our decades-long expertise in forensic level document and biometric verification, we deliver comprehensive, future-proof solutions and help our customers build secure and user-friendly IDV workflows.”

Estonia-headquartered IDV firm Veriff has shared that it has been named one of the top 50 vendors in the Chartis Financial Crime and Compliance 50 (FCC50) report, which evaluates the top 50 vendors in financial crime technology, looking at anti-money laundering (AML), fraud detection, sanctions screening and KYC compliance.

Veriff CEO Kaarel Kotkas says the accolade is particularly meaningful coming from market research and analyst Chartis, which has “a comprehensive knowledge base about the industry.”

Meanwhile, for the second year running, Ondato has been recognized as one of Europe’s fastest-growing companies in the Financial Times’ FT 1000 list. A blog from the Lithuanian company says the firm came in at number 420 overall, and is the only identity verification provider to make the list.

The firm says being included on the FT list two years in a row is “a testament to Ondato’s innovation, reliability and industry leadership.”

IDV market to grow by $16.2B between 2024-28

A recent report from Technavio says the global identity verification market size is estimated to grow by $16.92 billion USD from 2024 to 2028. In a release, it identifies the following firms as “key market players”: Equifax, Jumio, Thales Group, TransUnion, Experian, Trulioo, Onfido, Shufti Pro, Mitek Systems, GB Group, Gen Digital, ID Merit, Intellicheck, Mastercard, PXL Vision and LexisNexis Risk Solutions Inc.

Article Topics

biometrics  |  CLEAR  |  digital identity  |  face biometrics  |  identity verification  |  market report  |  Ondato  |  Regula  |  Veriff