Digidentity recognised as a Representative Vendor in Gartner’s 2024 Market Guide for KYC Platforms in Banking

Digidentity is proud to announce its inclusion as a Representative Vendor in the 2024 Gartner® Market Guide for KYC Platforms for Banking. This recognition underscores our commitment to delivering innovative solutions that meet the evolving needs of the financial services sector.

Gartner’s latest report offers valuable insights into the current landscape of Know Your Customer (KYC) processes, highlighting several key trends that are shaping the future of compliance and customer verification in banking. As financial institutions face increasing regulatory pressures and a demand for enhanced customer experiences, this guide serves as a critical resource for navigating vendor solutions.

Key trends explored in the report include:
-One-stop-shop KYC Platforms vs. Best-of-breed Solutions
Banks are evaluating the trade-offs between comprehensive platforms that offer an all-in-one solution and specialised services that target specific KYC functionalities.
-Role of AI in Enhancing Document Assessment and Liveness Detection
Artificial intelligence is becoming an essential tool for improving the accuracy and efficiency of identity verification processes, streamlining the customer onboarding experience.
-Move Towards Low-effort Customer Experience
A focus on creating seamless and user-friendly interactions is driving innovation in KYC processes, ensuring that compliance does not come at the cost of customer satisfaction.
-Increasing Importance of Perpetual KYC (pKYC)
Financial institutions are shifting towards ongoing customer verification processes to better manage risk and compliance over time.
-Real-time Risk Signal Sharing Industry Networks
Collaborative networks for sharing risk signals are emerging, allowing institutions to enhance their KYC efforts through collective intelligence.
-Potential of Decentralised Identity (DCI) to Transform the Existing KYC Model
The rise of decentralised identity solutions presents new opportunities for secure and efficient KYC processes, fundamentally altering traditional approaches.

As a leader in digital identity verification, Digidentity is committed to supporting financial institutions in navigating these trends and implementing effective KYC solutions that prioritise security and customer experience.

Gartner clients can read the full Market Guide here

For more information about how we can assist you in achieving your KYC goals, please contact our team today.