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The global e-KYC market reached a value of US$ XX Million in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
e-KYC is the process of electronically verifying the credentials of customers, which is mandatory to use the services of any financial institution. It comprises highly secured consent by the customers via a biometric fingerprint, an electronic key, and a written or electronic license. It is a safe and secure method of sharing confidential information while providing instant verification to prevent fraud. It is cost-effective and eco-friendly as e-KYC is a paperless system for collecting customer data compared to the traditional KYC system. In addition, it takes less time as registration and authentication are completed online without submitting the documentation physically. As a result, it is widely used in financial institutions, e-payment services, and telecom and insurance companies.
The growing incidents of identity-related frauds for committing various crimes, such as corruption, human trafficking, migrant smuggling, and terrorism, represent one of the key factors driving the market. Besides this, governments of several countries are implementing stringent regulations to prevent financial crimes and money laundering, which is contributing to the growth of the market. Moreover, the growing utilization of digital payment methods, such as banking cards, unified payments interface (UPI), mobile wallets, pre-paid cards, point of sale (POS), and internet banking, is positively influencing the market. In addition, technological advancements, such as linked devices, cloud computing, and artificial intelligence (AI), are offering lucrative growth opportunities to industry investors. Apart from this, there is a rise in data theft and cyberattacks, especially in large organizations, to steal and copy crucial data. This, along with the escalating demand for compliance management in various industries, is propelling the growth of the market. Additionally, e-KYC simplifies online transactions and aids in the management of various digital accounts, which is bolstering the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global e-KYC market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, deployment mode and end user.
Breakup by Product:
Breakup by Deployment Mode:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 63 Moons Technologies Limited, Acuant Inc., Financial Software & Systems Pvt. Ltd., GB Group plc, GIEOM Business Solutions Pvt. Ltd., Jumio, Onfido, Panamax Inc., Tata Consultancy Services Limited, Trulioo, Trust Stamp and Wipro Limited.
|Base Year of the Analysis||2021|
|Segment Coverage||Product, Deployment Mode, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||63 Moons Technologies Limited, Acuant Inc., Financial Software & Systems Pvt. Ltd., GB Group plc, GIEOM Business Solutions Pvt. Ltd., Jumio, Onfido, Panamax Inc., Tata Consultancy Services Limited, Trulioo, Trust Stamp and Wipro Limited.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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