Business Wire

42% of Companies Ready to Adopt Digital ID, New Regula Study Shows

Share

As more countries adopt the concept of digital identity, regulators are keen to showcase their plans and successes. But what do businesses think about this shift? To find out, Regula, a global developer of forensic devices and identity verification (IDV) solutions, commissioned a study to survey companies across different regions and industries to get a sense of their readiness, concerns, and expectations for digital identities.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240521226453/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Regula study shows, that the majority of companies around the world are fully aware of digital IDs. Moreover, there are organizations, that have already started integrating this technology in their IDV procedures. (Graphic: Business Wire)

Digital identity is considered to be a way to improve the efficiency and security of services, reduce fraud, and enhance access to public services, ensuring that they are delivered quickly and to the right people. A digital ID is an online representation of an individual, which contains personal information, credentials, and attributes used to establish and authenticate identity in digital spaces. As such, digital identity is already a well-recognized concept in different sectors.

Perception. According to the Forrester Consulting study “The New Imperative: Digital IDs,” 81% of large and enterprise-level companies from the Aviation, Banking, Government, IT, and Telecom sectors have at least a basic awareness of this technology, with almost half possessing a thorough understanding. Moreover, some countries and sectors, primarily those with advanced digital infrastructures and regulatory frameworks, as well as high customer online interaction frequencies, have already made a leap towards its adoption.

Implementation. Currently, 42% of organizations worldwide are actively integrating digital ID technologies into their systems, and 31% are in the early stages of implementation. Another 17% of respondents are now developing a strategic plan to begin this transformation.

The United Arab Emirates shows higher integration rates, where the majority of businesses (54%) have already moved to active integration. At the same time, places with stricter regulations, such as the US and Europe, are taking a more cautious approach, with only 37% and 39% of companies respectively claiming to be at the integration stage.

“As the Forrester experts note in the study, the complexities and disparities of global implementation across various landscapes highlight the strategic necessity of adopting a hybrid approach to digital IDs. Moreover, there is no single, universally accepted set of global standards for digital IDs that applies across all countries and sectors. Therefore, the large number of companies at the stage of active implementation demonstrates a growing need for frameworks and guidelines that aim to foster interoperability, security, and privacy across different digital ID systems. The good news is that several international organizations and standards bodies — New Technology Working Group in the International Civil Aviation Organization, the International Organization for Standardization (ISO), etc. — are working towards those standards. This seems to be a case in which slow and steady wins the race,” said Ihar Kliashchou, Chief Technology Officer at Regula.

More insights on the survey results will be revealed during an upcoming webinar with Regula and European Telecommunications Standards Institute experts. Register to join the live discussion!

Methodology:

In January 2024, Regula commissioned Forrester Consulting to conduct a survey with 226 manager-level and higher decision makers responsible for their organizations’ ID verification solutions. The respondents were primarily from Europe, North America and the Middle East, with at least 500 employees or more.

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 largest library of document templates in the world, we create breakthrough technologies in 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 was repeatedly named a Representative Vendor in the Gartner® Market Guide for Identity Verification.

Learn more at www.regulaforensics.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Kristina – ks@regulaforensics.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Negative Emotions High Across Countries in Conflict in Greater Europe25.6.2024 06:01:00 CEST | Press release

In 2023, Ukraine was engulfed in war, while a new clash erupted between Israel and Hamas in the European sphere of influence. The Gallup Global Emotions 2024 report reveals the emotional toll of these conflicts. The report offers a snapshot of Gallup’s latest measurements of people’s positive and negative daily experiences. The findings are based on nearly 146,000 interviews with adults in 142 countries and areas in 2023. While global negative emotions dipped for the first time in a decade and positive emotions rebounded to their pre-pandemic highs, many of the world’s conflict zones remained bleak. After Oct. 7 Attacks, Israel Vaulted to Top 10 in Negative Emotions Israel, surveyed by Gallup two weeks after the Oct. 7 Hamas attacks, made the top 10 list of countries with the worst Negative Experience Index scores for the first time, at 47. In 2022, Israel ranked among the countries with the lowest scores in the world on this index. Fueling this low score, Israelis saw massive increase

DNP Achieved Over 85% Repulpability for High Barrier Paper Mono-Material Sheet25.6.2024 03:00:00 CEST | Press release

Dai Nippon Printing Co., Ltd. (DNP, TOKYO:7912) has successfully updated the materials and processing methods used in a proprietary mono-material sheet for packaging product to achieve over 85% repulpability1. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240620532988/en/ Image of updated packaging employing paper mono-material sheet (Photo: Business Wire) In 2022 we developed an environmentally friendly packaging sheet with high barrier properties2 that prevents the transmission of oxygen and water vapor as packaging materials for food, cosmetics, and medical products. At the same time, the use of mono-material paper facilitated increased recyclability. Development In recent years, as an indicator of eco-friendliness in the recyclability of paper packaging, efforts have been witnessed in Europe and the United States to improve the recycling effect of paper as a renewable resource, by increasing the repulpability to more th

China Hi-Tech Fair Gearing up for Its 26th Edition on November 14 in Shenzhen25.6.2024 02:00:00 CEST | Press release

China Hi-Tech Fair (CHTF), a large-scale international event and China's premier tech show showcasing innovative technologies and products, will kick off its 26th edition on November 14-16, 2024 at Shenzhen World Exhibition & Convention Center under the theme "Technology Leads Development, Industry Integrates Fusion". Covering an exhibition area of 400,000m2, CHTF 2024 is expected to attract over 5,000 exhibitors and 500,000 attendees from more than 100 countries and regions. This year, the event will feature 20 top fast-growing sectors, including China’s Leading Heavy Equipment, Top Tech Industry Chains, Clean Energy, High-end Machinery Manufacturing and Low-altitude Economy & Aerospace, etc. About 150 activities will be held concurrently. Leveraging Shenzhen's role as an international innovation center, CHTF has become an important gateway for China's high-tech sector to connect with the international community, and a top-level platform empowering tech companies to elevate their glob

Merck Provides Update on Phase III TrilynX Study in Locally Advanced Head and Neck Cancer24.6.2024 22:35:00 CEST | Press release

Merck, a leading science and technology company, today announced the discontinuation of the Phase III randomized TrilynX study evaluating xevinapant plus chemoradiotherapy (CRT) in patients with unresected locally advanced squamous cell carcinoma of the head and neck (LA SCCHN). The decision follows a pre-planned interim analysis performed by the study’s Independent Data Monitoring Committee, which found that the trial would be unlikely to meet its primary objective of prolonging event-free survival. Top-line safety data were overall compatible with the chemo-radio sensitizing properties of xevinapant. The company will conduct an in-depth review of the data and will share the results in a peer-reviewed forum. LA SCCHN has proven to be a difficult-to-treat form of cancer. CRT has remained the standard of care for decades, despite multiple studies designed to improve outcomes with new treatment approaches, including multiple immunotherapy trials. “We sincerely thank the patients, caregiv

Verimatrix To Showcase Mobile App Protection Platform at OWASP Events in Lisbon and San Francisco24.6.2024 17:45:00 CEST | Press release

Regulatory News: Verimatrix, (Euronext Paris: VMX, FR0010291245), the leader in powering the modern connected world with people-centered security, today announced its participation in two leading events organized by the Open Worldwide Application Security Project (OWASP). The following conferences will showcase the award-winning Verimatrix Extended Threat Defense (XTD) mobile app security solutions: OWASP Global AppSec Lisbon 2024 – June 24-28, 2024 Lisbon Congress Centre – Lisbon, Portugal https://lisbon.globalappsec.org/ OWASP Global AppSec San Francisco 2024 – September 23-27, 2024 Hyatt Regency San Francisco – San Francisco, California https://sf.globalappsec.org/ Bringing together those tasked with ensuring proper security for apps, the associated enterprise, as well as their app users, OWASP events serve as leading venues to illustrate the value and differentiation that comes with proactively deploying mobile app protections. Verimatrix XTD mobile app security solutions quickly a

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye