E-KYC Market Is Booming So Rapidly | Acuant, Jumio, Onfido

HTF MI introduces new research on E-KYC covering the micro level of analysis by competitors and key business segments (2023-2029). The E-KYC explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled in the study are Acuant (United States), EverCompliant (United States), Jumio Corporation (United States), Onfido (United Kingdom), Financial Software & Systems Pvt. Ltd. (India), Au10tix (Israel), 63 Moons Technologies Ltd. (India), Trust Stamp (United States), Panamax Inc. (United States)

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On the off chance that you are engaged with the industry or expect to be, at that point this investigation will give you a complete perspective. It's crucial you stay up with the latest sectioned by Applications [Insurance Companies, Financial Institutions, Banks, Government Entities, Telecom Companies, E-payment Service Providers], and some significant parts of the business.

Definition:
Electronic Know Your Customer or E-KYC is a procedure wherein the customer’s identity is identified and verified. The process consists of series of checks at the first time of relationship with the customer. It basically verifies who the person is and cross-checks that he is who he says he is, taking into consideration all the documents and his personification. The electronic know your customer or E-KYC is the electronic process that is used by various organizations and enterprises like banks, offices, telecom companies, financial institutions, insurance companies, and others. In this process, the customer’s identity and the address where he is staying are verified with all the possible sources with the help of electronic technology. Because this process provides customers with a better experience rather than the manual process of verification which takes a lot of time. E-KYC is the expression used to describe the digitalization and the online conception of the KYC process. The E-KYC process also minimizes the cost while the process of verification. Falsification of identity, forging signatures and phishing is very common. Specialist businesses dedicated to technical compliance solutions have developed completely secure E-KYC processes with zero margins for the commission of these counterfeiting offenses and related crimes.

Market Trends:
• The Rising Number of Identity-Related Frauds
• Increasing Cloud Adoption, Growing Internal and External Threats, And the Internet of Things (IoT)

Market Drivers:
• Escalating Requirement for Minimizing Manual Errors
• Increase in the Services like Digital Payment and Digital Onboarding
• Increasing Importance of Compliance Management

Market Opportunities:
• Ease in Conducting Transactions & Account Opening
• Reduction in Compliance Cost Thus Making It Easier to Serve to Low-Income Customers

Which market aspects are illuminated in the report?

Executive Summary: It covers a summary of the most vital studies, the E-KYC market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.

Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the E-KYC market, the years measured, and the study points.

Company Profile: Each Firm well-defined in this segment is screened based on a product's, value, SWOT analysis, ability, and other significant features.

Manufacture by region: This E-KYC report offers data on imports and exports, sales, production, and key companies in all studied regional markets

Highlighted of E-KYC Market Segments and Sub-Segment:

E-KYC Market by Key Players: Acuant (United States), EverCompliant (United States), Jumio Corporation (United States), Onfido (United Kingdom), Financial Software & Systems Pvt. Ltd. (India), Au10tix (Israel), 63 Moons Technologies Ltd. (India), Trust Stamp (United States), Panamax Inc. (United States)

E-KYC Market by End-User/Application: Insurance Companies, Financial Institutions, Banks, Government Entities, Telecom Companies, E-payment Service Providers

E-KYC Market by Geographical Analysis:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)

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The study is a source of reliable data on Market segments and sub-segments, Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological innovations Value chain, and investor analysis.

Interpretative Tools in the Market: The report integrates the entirely examined and evaluated information of the prominent players and their position in the market by methods for various descriptive tools. The methodical tools including SWOT analysis, Porter's five forces analysis, and investment return examination were used while breaking down the development of the key players performing in the market.

Key Growths in the Market: This section of the report incorporates the essential enhancements of the marker that contains assertions, coordinated efforts, R&D, new item dispatch, joint ventures, and associations of leading participants working in the market.

Key Points in the Market: The key features of this E-KYC market report includes production, production rate, revenue, price, cost, market share, capacity, capacity utilization rate, import/export, supply/demand, and gross margin. Key market dynamics plus market segments and sub-segments are covered.

Research Objectives:
• Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
• To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
• To analyze the with respect to individual future prospects, growth trends and their involvement to the total market.
• To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
• To deliberately profile the key players and systematically examine their growth strategies.

FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

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