RESTON, Va.: #identity--Regula, a global developer of forensic devices and identity verification (IDV) solutions, is now providing advanced IDV software technologies to 152 million online users worldwide. This new milestone marks an impressive growth of 52% compared to the previous year. Among the main drivers of wider IDV adoption, Regula points out the rising need for advanced anti-fraud solutions, regulatory shifts, and digital transformation initiatives.

The increasing adoption of Regula’s document and biometric verification solutions highlights a growing demand for secure and user-friendly IDV workflows in key sectors, including finance, e-commerce, government services, travel, and more. This strong year-to-year growth demonstrates that businesses are proactively adapting to the rapidly changing ID verification landscape with Regula’s complete IDV solution, which includes document authenticity checks, biometric verification, liveness detection, and deepfake prevention.

Regional highlights

From stricter KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations in North America and Europe to erupting digital identity initiatives in Asia to booming fintech services in Latin America and the Middle East, identity verification is becoming an essential part of digital interactions. Here’s how different markets are driving Regula’s IDV adoption growth.

North America

• Key drivers: Rising fraud incidents and threats (according to Regula’s survey,* 96% of US businesses faced identity fraud in 2024) plus regulatory pressure.
• Country highlight: The US (+55%) – Increased adoption of AI-driven fraud prevention and stronger authentication in financial services and e-commerce.

Europe

• Key drivers: Stricter regulations (GDPR, AMLD), the European Digital Identity Wallet initiative, and fintech expansion.
• Country highlights:
  • The UK (+122%) – Post-Brexit compliance shifts and growth in digital banking.
  • Germany (+123%) – Strong data privacy laws and high demand for authenticity checks in digital scenarios.

META (Middle East, Türkiye, and Africa)

• Key drivers: Digital government initiatives, fintech growth, and a push for AI-driven security.
• Country highlight: The UAE (+112%) – Rapid adoption of digital identity verification solutions due to its ambitions to become a leader in AI, fintech, and smart city innovations.

APAC (Asia Pacific)

• Key drivers: Booming digital payments, financial inclusion efforts, and strong government support for digital identity solutions.
• Country highlights:
  • Singapore (+102%) – A financial hub with widespread digital banking and government-backed digital ID systems like Singpass.
  • Australia (+188%) – AML regulations and age verification initiatives.

Latin America

• Key drivers: Explosive fintech growth, mobile banking expansion, and high fraud rates requiring stronger ID verification techniques.
• Country highlights:
  • Mexico (+156%) – Rapid adoption of digital payments and financial services.
  • Colombia (+241%) – The fastest-growing market, driven by fintech expansion and government-led digital ID initiatives.

“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. As businesses and governments worldwide accelerate their adoption of digital solutions, they face the complex challenge of ensuring security and compliance while maintaining a low-effort user experience. Additionally, the ever-rising cyber and identity fraud threats have made advanced IDV not just a regulatory requirement but a fundamental business necessity. 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,” says Henry Patishman, Executive VP of Identity Verification Solutions at Regula.

No compromise on security, efficiency, or compliance

To help businesses and government institutions fight identity fraud effectively, Regula offers a complete IDV solution, comprising Regula Document Reader SDK and Regula Face SDK. This on-premise software performs extensive document and biometric authenticity checks, enables data cross-validation to spot discrepancies that might indicate fraud, and ensures sensitive personal data privacy.

With more than 14,800 identity document templates from 251 countries and territories, Regula provides businesses with the industry’s most comprehensive ID template database. This asset allows for accurate identity verification regardless of the provided document, which is especially important for financial institutions, travel companies, and global businesses.

Regula’s ID verification software is fully compatible with most third-party document readers, allowing organizations to adopt advanced offline ID verification without investing in new hardware.

Also, Regula’s IDV technologies are inherently future-ready, supporting emerging standards such as ISO/IEC 39794-5 for biometric passport verification and Digital Travel Credentials (DTCs) aimed at streamlining travel and border crossing.

Regula’s hardware and software solutions are trusted by more than 1,000 organizations all over the world. Among them:

• UBS, the world’s largest private bank, has implemented a robust customer onboarding system powered by Regula’s comprehensive ID verification technologies.
• Checkport, a Swiss aviation security provider, utilizes Regula’s identity verification solutions to enhance passenger screening and security protocols.
• Pearson VUE, a global leader in online testing, relies on Regula to authenticate candidate identities for high-stakes remote exams.

To learn more about Regula’s technologies and offerings, please visit Regula’s website.

*The research was initiated by Regula and conducted by Sapio Research in August 2024 using an online survey of 575 business decision-makers across the Financial Services (including Traditional Banking and Fintech), Crypto, Technology, Telecommunications, Aviation, Healthcare, and Law Enforcement sectors. The respondent geography included Germany, Mexico, the UAE, the US, and Singapore. Find more insights on deepfake fraud in the survey report.

About Regula

Regula is a global developer of forensic devices and identity verification solutions. With our 30+ years of experience in forensic research and the most comprehensive library of document templates in the world, we create breakthrough technologies for document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security, or speed. Regula has been repeatedly named a Representative Vendor in the Gartner® Market Guide for Identity Verification.

Learn more at www.regulaforensics.com.

Fonte: Business Wire