New Seminal Research Highlights the Critical Role
of Identity Authorization Networks in
Combating Fraud and Establishing Trust in a
Digital-First World
NEW
YORK, Nov. 19, 2024 /PRNewswire/
-- Liminal, a market and competitive intelligence technology
leader, has released a new seminal report, The Market for Identity
Authorization Networks in the United
States, introducing and defining Identity Authorization
Networks (IANs) as an emerging category. The report forecasts that
the total market size for IANs in the U.S. will grow significantly,
representing $15.5 billion by 2028,
as demand grows for solutions that securely link online
transactions to verified identities. With rising digital
fraud, IANs offer a fresh approach to building trust
and enhancing the security of digital interactions through the
practical extension of identity verification into new industries
and use cases.
"As generative AI fraud and digital identity theft
escalate, the need has become apparent to solve for trust and
fraud by design vs. as an afterthought," said
Travis Jarae, CEO at Liminal. "Our
research reveals how IANs can transform digital trust, providing a
scalable, cost-efficient, and user-friendly solution that securely
links real-world identities to online actions. Businesses with the
vision, conviction, and resources to execute on the Identity
Authorization Network opportunity can seize substantial financial
and strategic gains."
The report identifies the rising need for IANs across
financial services, government, e-commerce, and fintech sectors.
These networks help businesses meet regulatory requirements,
prevent fraud, and enhance user experience by securely
verifying identity at critical points in the digital journey. By
establishing identity trust and authorization networks, industries
can ensure safe, frictionless transactions while addressing the
unique challenges of digital fraud and synthetic
identity threats.
Key Insights from Liminal's Seminal Research:
- $15.5 Billion Market
Opportunity – The Identity Authorization Network (IAN)
market in the U.S. is projected to represent $15.5 billion by 2028, fueled by a sharp increase
in digital fraud incidents and rising demand for
secure identity verification solutions.
- 90% of E-commerce Platforms Report an Increase in AI-enabled
Transaction Fraud, and lower assurance
verticals are already beginning to feel the impact of this wave of
fraud.
- 80% of Banks Expect GenAI Fraud to
Undermine their Anti-fraud Methods, and financial
services firms cite being unprepared to deal with novel
fraud vectors introduced by AI.
- 75% of Banks are Deeply Concerned about Document and
Signature Fraud, and 86% Seek Enhanced Security
Solutions. Fraud and risk executives recognize the
risks of electronic document fraud and are ready to
allocate more budget to close security gaps, making IANs a
strategic starting point.
Liminal's report on The Market for Identity Authorization
Networks equips business leaders to understand a fast-evolving
digital trust landscape, how IANs can generate tremendous value in
the face of new threats and requirements, and which digital
identity players could capture the IAN opportunity. The report
offers a detailed analysis of adoption drivers, technology trends,
and how IANs are poised to revolutionize digital identity in
the United States.
Upcoming Events:
Register for and attend our upcoming webinar on
December 11 at 11 a.m. ET to explore key findings from the
report and gain deeper insights into building and leveraging
Identity Authorization Networks.
About Liminal
Liminal is a technology company
empowering businesses with actionable market and competitive
intelligence. Our advanced platform combines AI precision with
human expertise to deliver unparalleled insights, helping
executives make informed decisions, enhance productivity, and drive
growth. Trusted by industry leaders across public and private
sectors, we provide targeted solutions for fraud and
identity, cybersecurity, trust and safety, financial crimes
compliance, and privacy management. Empower your business with the
actionable future intelligence needed to thrive in today's
market.
Visit Liminal.co for more information.
Contact:
Stacy
Schulman
Liminal Media Relations
media@liminal.co
1 (602) 616-9818
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SOURCE Liminal Strategy, Inc.