Report expects that by 2022, 80% of organizations will use document-centric identity proofing as part of their onboarding workflows, an increase from approximately 30% today
Jumio, the leading provider of AI-powered end-to-end identity verification and eKYC solutions, has been recognized for the third consecutive year as a Representative Vendor in the latest Gartner “Market Guide for Identity Proofing and Attribution,”1 published on September 11, 2020.
“The rampant theft of PII via large-scale data breaches continues unabated”
Citing the Report’s Criteria on Representative Vendor Selection:
Jumio was named as a Representative Vendor among several other identity proofing and corroboration providers. “The listed vendors represent what’s core in the market, what extends it and what will transform it,” stated the Market Guide.
Vendors were selected on the basis of one or more of the following criteria:
- Vendors offering capabilities that support identity proofing in ways that are unique, innovative and/or demonstrate forward-looking product strategies.
- Frequent inquiries by Gartner clients about a particular vendor for identity-proofing use cases.
- Vendors that represent particular market segments or geographic regions, thus helping to illustrate the breadth of the market.
- Fair representation from year to year, with rotation of vendors that may have previously met the above requirements, but were omitted simply due to space restrictions.
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Strategic Planning Assumptions
This year’s Market Guide for Identity Proofing and Attribution included a number of strategic planning assumptions and predictions:
- By 2022, 80% of organizations will be using document-centric identity proofing as part of their onboarding workflows, which is an increase from approximately 30% today.
- By 2022, more than 95% of RFPs for document-centric identity proofing will contain clear requirements regarding minimizing demographic bias, an increase from fewer than 15% today.
- By 2023, 75% of organizations will be using a single vendor with strong identity orchestration capabilities and connections to many other third parties for identity proofing and affirmation, which is an increase from fewer than 15% today.
These strategic planning assumptions signal significant shifts in the identity proofing market. Large-scale data breaches are rendering the checking of static data obsolete(Jumio).
“The rampant theft of PII via large-scale data breaches continues unabated,” stated the Market Guide. “Such theft enables criminals to attack static data verification methods and to impersonate people to obtain their credit and public records, thus gathering a robust set of information to circumvent most data-centric verification tools.”
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