Our KYC/KYB Systems research suite provides a detailed and insightful analysis of an evolving market; enabling stakeholders such as financial institutions, eCommerce platforms, regulatory agencies and technology vendors to understand future growth, key trends and the competitive environment.
The suite includes several different options that can be purchased separately, including access to data that maps adoption and future growth of the KYC/KYB systems market. The research in this insightful study uncovers the latest trends and opportunities within the market, and provides extensive analysis of the 19 market leaders in the fight against identity fraud and money laundering. The coverage can also be purchased as a Full Research Suite, containing all of these elements, at a substantial discount.
Collectively, these documents provide a critical tool for understanding the rapidly evolving KYC/KYB systems market; allowing banks and technology vendors to shape their future strategy. Its unparalleled coverage makes this research suite an incredibly useful resource for charting the future of such an uncertain and rapidly growing market.
Key Features
Market Dynamics: The banking market share research also includes a regional market growth analysis on the current development and segment growth of KYC/KYB systems; an assessment of the global regulatory frameworks that have shaped the KYC/KYB systems realm. Also provided are a future outlook of, and insights into, key trends and market expansion challenges within the KYC/KYB systems market. The research addresses challenges posed by the increase of online transactions and financial crime and the potential benefits of increasing regulatory involvement, and an assessment of the many identity verification approaches used to digitally onboard customers and businesses through next-generation technology.
Key Takeaways & Strategic Recommendations: In-depth analysis of key development opportunities and key findings within the KYC/KYB systems market, accompanied by key strategic recommendations for stakeholders including financial institutions, regulatory bodies, eCommerce platforms and more.
Benchmark Industry Forecasts: The overview includes forecasts for total revenue for KYC/KYB systems, split by consumer vs business use cases. Also included is the global spend on KYC/KYB systems; split across five financial and five non-financial industry segments.
Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 19 KYC/KYB Systems vendors, via the Juniper Research Competitor Leaderboard.
Juniper Research Future Leaders Index: Key player capability and capacity assessment for eight KYC/KYB Systems vendors, via the Juniper Research Future Leaders Index; including:
Baselayer
Dotfile
Gatenox
Labrys
Parcha
Quadrata
TransactionLink
Vespia
Please note: the online download version of this report is for a global site license.
- 1. Key Takeaways & Strategic Recommendations
- 1.1 Key Takeaways
- 1.2 Strategic Recommendations
- 2. Market Landscape
- 2.1 Introduction
- 2.1.1 The History of Regulatory Frameworks
- Figure 2.1: Basel III Framework
- 2.1.2 The Current KYC Regulatory Landscape
- Figure 2.2: Factors Determining Customers’ Potential Risk Level
- i. KYC (Know Your Customer)
- Figure 2.4: Verification Alternatives to KYC
- iii. KYI (Know Your Investor)
- iv. KYP (Know Your Patient)
- v. KYD (Know Your Data)
- vi. Age Verification
- 2.1.3 Shifting and Emerging Regulatory Landscape
- i. EU – AI Act
- Figure 2.6: Fundamental Aims of the EU’s AI Act
- ii. China – Deepfake Legislation
- Figure 2.7: China’s Deepfake Legislation Requirements
- iii. US – Texas HB (House Bill)
- Figure 2.8: Texas House Bill 1181 Key Developments
- iv. India – Digital KYC
- v. UAE
- 2.2 Key Trends and Driver
- 2.2.1 Combatting Financial Fraud and Corruption
- 2.2.2 Increase in Digital Nomads
- Figure 2.9: Scenarios that Utilise KYC Verification across Various Industries
- 2.2.3 Expansion of Remote Verification
- 2.2.4 Ongoing KYC Processes
- 2.3 Future Outlook
- 2.3.1 Increased Use of Advanced AI and Machine Learning
- 2.3.2 Greater Emphasis on Biometric Verification
- 2.3.3 Blockchain for Immutable Verification Records
- 2.3.4 Adoption of SSI (Self-sovereign Identity) Models
- 3. Digital Onboarding: Verification Technologies
- 3.1 Identification Verification & KYC/KYB Systems
- 3.1.1 Document Verification
- i. Document Scanning
- ii. MRZ (Machine-readable Zones)
- iii. Embedded Chips
- 3.1.2 Document Reading
- 3.1.3 Using Documents for Verification
- i. Photo IDs
- ii. Age Verification
- iii. Linked Biometrics
- 3.2 Database Verification
- 3.2.1 Common Biometrics
- i. Fingerprint
- ii. Facial
- iii. Voice
- iv. Liveness Detection
- v. Deepfake Detection
- vi. Behavioural Biometrics
- 3.2.2 Emerging Biometrics
- i. Iris
- ii. Retina
- iii. Handprint
- iv. Vein Patter Recognition
- 1. KYC/KYB Systems – Competitor Leaderboard
- 1.1.1 Why Read This Report
- KYC/KYB Systems Market Takeaways
- Table 1.1: Juniper Research Competitor Leaderboard KYC/KYB Systems Market Vendors & Product Portfolio
- Figure 1.2: Juniper Research Competitor Leaderboard KYC/KYB Systems Vendors
- Table 1.3: Juniper Research Competitor Leaderboard Vendors and Positioning
- Table 1.4: Juniper Research Competitor Leaderboard for KYC/KYB Systems Heatmap
- Table 1.4: Juniper Research Competitor Leaderboard for KYC/KYB Systems Heatmap (Continued)
- 1.2 Vendor Profiles
- 1.2.1 AU10 TIX
- i. Corporate
- Table 1.5: AU10 TIX’s Investment Rounds ($m), 2019-
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.2 ComplyAdvantage
- 1.2.3 Data Zoo
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.4 Encompass Corporation
- i. Corporate
- Table 1.7: Encompass’ Investment Rounds ($m), 2016-
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.5 Entrust
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.6 Experian
- i. Corporate
- Table 1.8: Experian’s Financial Snapshot ($m), 2021-
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.7 Fenergo
- i. Corporate
- Table 1.9: Fenergo’s Investment Rounds ($m), 2013-
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.8 Jumio
- i. Corporate
- Table 1.10: Jumio’s Investment Rounds ($m), 2010-
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.9 Know Your Customer
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.10 LexisNexis Risk Solutions
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.11 Minerva
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.12 Moody’s
- i. Corporate
- Table 1.11: Moody’s Financial Snapshot ($m), 2021-
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- Figure 1.12: Moody’s KYC ecosystem
- Figure 1.13: Moody’s GRID PEP risk rating system
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.13 Persona
- i. Corporate
- Table 1.14: Persona’s Investment Rounds ($m), 2019-
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.14 Sardine
- i. Corporate
- Table 1.15: Sardine’s Investment Rounds ($m), 2021-
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.15 Shufti Pro
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.16 Socure
- i. Corporate
- Table 1.16: Socure’s Investment Rounds ($m), 2015-
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.17 Sumsub
- i. Corporate
- Table 1.17: Sumsub’s Investment Rounds ($m), 2017-
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.18 Trulioo
- i. Corporate
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 1.2.19 Veriff
- i. Corporate
- Table 1.18: Veriff’s Funding Rounds ($m), 2018-
- ii. Geographic Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offering
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- Table 1.19: Juniper Research Competitor Leaderboard Scoring Criteria: KYC/KYB Systems
- 2. Future Leaders Index: KYC/KYB Systems
- Table 2.1: Juniper Research Future Leaders Index – KYC/KYB Systems Vendors & Product Portfolio
- Figure 2.2: Juniper Research Future Leaders Index – KYC/KYB Systems
- Table 2.3: Juniper Research Future Leaders Vendors – KYC/KYB Systems
- Table 2.4: Juniper Research Future Leaders Index Heatmap: KYC/KYB Systems
- 2.1 Future Leaders Vendor Profiles
- 2.1.1 Baselayer
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 2.1.2 Dotfile
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 2.1.3 Gatenox
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 2.1.4 Labrys
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 2.1.5 Parcha
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 2.1.6 Quadrata
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 2.1.7 TransactionLink
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 2.1.8 Vespia
- i. Corporate
- ii. Geographical Spread
- iii. Key Clients & Strategic Partnerships
- iv. High-level View of Offerings
- v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
- 2.1 Juniper Research Future Leader Index Assessment Methodology
- 2.2 Limitations & Interpretations
- Table 2.5: Juniper Research Future Leader Index: KYC/KYB Systems
- 1. Global KYC/KYB Systems Forecast
- 1.1.1 Introduction
- 1.1.2 Methodology
- Figure 1.1: KYC/KYB Systems Forecast Methodology for Financial Businesses (Banks, Fintechs, Insurance, Investment, Lending)
- Figure 1.2: KYC/KYB Systems Forecast Methodology for Professional and Other Businesses (Gambling & Gaming, eCommerce, Telco, Healthcare, and Real Estate)
- 2. Global KYC/KYB Systems Market
- 2.1 Global KYC/KYB Systems Market
- 2.1.1 Number of Businesses Using Third-party KYC/KYB Systems
- Figure & Table 2.1: Total Number of Businesses using Third-party KYC/KYB Systems, Split by 8 Key Regions, 2024-
- 2.1.2 Total Spend of Third-party KYC/KYB Systems
- Figure & Table 2.2: Total Spend on Third-party AML Systems per annum ($m), Split by 8 Key Regions, 2024-
- 3. Financial Businesses: Global KYC/KYB Systems Forecast
- 3.1.1 Total Number of Financial Businesses Using Third-party KYC/KYB Systems
- Figure & Table 3.1: Total Number of Financial Businesses Using Third-party KYC/KYB Systems, Split by 8 Key Regions, 2024 -
- Table 3.2: Total Number of Financial Businesses Using Third-party KYC/KYB Systems per annum, Split by Industry 2024-
- 3.1.2 Total Spend on Third-party KYC/KYB Systems by Financial Businesses
- Figure & Table 3.3: Total Spend on Third-party AML Systems by Financial Businesses per annum ($m), Split by 8 Key Regions, 2024-
- Table 3.4: Total Spend on Third-party KYC/KYB Systems by Financial Businesses per annum ($m), Split by Industry, 2024-
- 3.1.3 Total Number of Banks Using Third-party KYC/KYB Systems
- Figure & Table 3.5: Total Number of Banks Using Third-party KYC/KYB Systems per annum, Split by 8 Key Regions, 2024-
- 3.1.4 Total Spend on Third-party KYC/KYB Systems in the Banking Industry
- Figure & Table 3.6: Total Spend on Third-party KYC/KYB Systems in the Banking Industry per annum ($m), Split by 8 Key Regions, 2024-
- 3.1.5 Total Number of Fintechs Using Third-party KYC/KYB Systems
- Figure & Table 3.7: Total Number of Fintechs Using Third-party KYC/KYB Systems per annum, Split by 8 Key Regions. 2024-
- 3.1.6 Total Spend on Third-party KYC/KYB Systems in the Fintech Industry
- Figure & Table 3.8: Total Spend on Third-party KYC/KYB Systems in the Fintech Industry per annum ($m), Split by 8 Key Regions, 2024-
- 3.1.7 Total Number of Insurance Companies Using Third-Party KYC/KYB Systems
- Figure & Table 3.9: Total Number of Insurance Companies Using Third-party KYC/KYB Systems per annum, Split by 8 Key Regions, 2024-
- 3.1.8 Total Spend on Third-party AML Systems in the Insurance Industry
- Figure & Table 3.10: Total Spend on Third-party KYC/KYB Systems in the Insurance Industry per annum ($m), Split by 8 Key Regions, 2024-
- 3.1.9 Total Number of Investment Companies Using Third-party KYC/KYB Systems
- Figure & Table 3.11: Total Number of Investment Companies Using Third-party KYC/KYB Systems per annum, Split by 8 Key Regions, 2024-
- 3.1.10 Total Spend on the Third-party KYC/KYB Systems in the Investment Industry
- Figure & Table 3.12: Total Spend on Third-party KYC/KYB Systems in the Investment Industry per annum ($m), Split by 8 Key Regions, 2024-
- 3.1.11 Total Number of Lending Companies Using Third-party AML Systems
- Figure & Table 3.13: Total Number of Lending Companies Using Third-party KYC/KYB Systems, Split by 8 Key Regions, 2024-
- 3.1.12 Total Spend on the Third-party KYC/KYB Systems in the Lending Industry
- Figure & Table 3.14: Total Spend on Third-party KYC/KYB Systems in the Lending Industry per annum ($m), Split by 8 Key Regions, 2024-
- 4. Professional and Other Businesses: Global KYC/KYB Systems Forecast
- 4.1.1 Total Number of Professional and Other Businesses Using Third-Party KYC/KYB Systems
- Figure & Table 4.1: Total Number of Professional and Other Businesses using Third-Party KYC/KYB Systems, Split by 8 Key Regions, 2024-
- Table 4.2: Total Number of Professional and Other Businesses Using Third-party KYC/KYB, Split by Industry, 2024-
- 4.1.2 The Total Spend on Third-party KYC/KYB System by Professional and Other Businesses
- Figure & Table 4.3: Total Spend on Third-party KYC/KYB System by Professional and Other Businesses ($m), Split by 8 Key Regions, 2024-
- Table 4.4: Total Spend on Third-party KYC/KYB System by Professional and Other Businesses ($m), Split by 8 Key Regions, 2024-
- 4.1.3 Total Number of Gaming & Gambling Businesses Using Third-party KYC/KYB Systems
- Figure & Table 4.5: Total Number of Gaming & Gambling Businesses Using Third-party KYC/KYB Systems (m), Split by 8 Key Regions, 2024-
- 4.1.4 Total Spend on Third-party KYC/KYB Systems in the Gaming & Gambling Industry
- Figure & Table 4.6: Total Spend on Third-party KYC/KYB Systems in the Gaming & Gambling industry ($m), Split by 8 Key Regions, 2024 -
- 4.1.5 Total Number of eCommerce Businesses Using Third-party KYC/KYB Systems
- Figure & Table 4.7: Total number of eCommerce Businesses Using Third-party KYC/KYB Systems, Split by 8 Key Regions, 2024-
- 4.1.6 Total Spend on Third-party KYC/KYB Systems in the eCommerce Industry
- Figure & Table 4.8: Total Number of eCommerce Businesses Using Third-party KYC/KYB Systems in the eCommerce Industry ($m), Split by 8 Key Regions, 2024-
- 4.1.7 Total Number of Telco Businesses Using Third-party KYC/KYB Systems
- Figure & Table 4.9: Total Number of Telco Businesses using Third-party KYC/KYB Systems, Split by 8 Key Regions, 2024-
- 4.1.8 Total Spend on Third-party KYC/KYB Systems in the Telco Industry
- Figure & Table 4.10: Total Spend on Third-party KYC/KYB Systems in the Telco Industry ($m), Split by 8 Key Regions, 2024-
- 4.1.9 Total Number of Healthcare Businesses Using Third-party KYC/KYB Systems
- Figure & Table 4.11: Total number of Healthcare Businesses Using Third-party KYC/KYB Systems, Split by 8 Key Regions, 2024-
- 4.1.10 Total Spend on Third-party KYC/KYB Systems in the Healthcare Industry
- Figure & Table 4.12: Total Spend on Third-party KYC/KYB Systems in the Healthcare Industry ($m), Split by 8 Key Regions, 2024-
- 4.1.11 Total Number of Real Estate Businesses Using Third-party KYC/KYB Systems
- Figure & Table 4.13: Total Number of Real Estate Businesses Using Third-party KYC/KYB Systems, Split by 8 Key Regions, 2024-
- 4.1.12 Total Spend on Third-party KYC/KYB Systems in the Real Estate Industry
- Figure & Table 4.14: Total Spend on Third-party KYC/KYB Systems in the Real Estate Industry ($m), Split by 8 Key Regions, 2024 -
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