Researchdigital identitykyc kybfraud detectionfinancial services
Financial Firms Elevate Digital Identity Infrastructure
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9.1
In a new report, PYMNTS Intelligence and Trulioo find that inadequate digital identity verification now constrains financial-services growth, with over 75% of firms saying identity processes limit expansion and KYC/KYB failures costing about 3% of revenue—nearly $34 billion industrywide. The study notes more than 90% of global identity platform users see verification improve over time and recommends layered verification and ongoing monitoring.
Scoring Rationale
High industry relevance and actionable recommendations from credible survey data, limited by non-technical scope and lack of methodological detail.
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