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

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

News

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

2024-05-21 15:02 Last Updated At:15:11

RESTON, Va.--(BUSINESS WIRE)--May 21, 2024--

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/

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.

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)

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)

Next Article

Denmark takes on Serbia in final match of a wide open group at Euro 2024

2024-06-25 01:46 Last Updated At:01:50

MUNICH (AP) — Denmark faces Serbia on Tuesday in Munich in their final Group C match. Both teams hope it’s not their last game at the European Championship. Denmark is second in the group, two points below England and level on points with third-placed Slovenia. Serbia is last but has only one less point than Denmark and Slovenia. Kickoff is at 9 p.m. local time (1900 GMT). Here’s what to know about the match:

— Denmark would advance to the round of 16 with a win and would be eliminated if it loses and Slovenia avoids defeat against England.

— If both matches end in a draw, Denmark and Slovenia will be split for second and third on overall goals scored, then disciplinary points, then European Qualifiers rankings. The first two tiebreakers are head-to-head and goal difference but that would stay equal.

— Serbia, which snatched a vital draw against Slovenia on Thursday to keep its hopes alive, will advance if it beats Denmark and Slovenia fails to win against England. It will be out if it draws and Slovenia avoids defeat.

— Other results could leave Serbia scrambling for a calculator and facing an anxious wait to see if it scrapes through as one of the four best third-place teams.

— Denmark midfielder Thomas Delaney has recovered from the illness that kept him out of the match against England.

— Serbia has no new injury concerns but winger Filip Kostic is out after injuring a knee ligament in his team’s opening loss to England.

— There has never been a draw between the two sides. Each has won five of their 10 encounters.

— But four of Denmark’s five wins have come in the last four matches, including a 3-0 victory the last time they met, in March 2022.

— Christian Eriksen has moved level with Simon Kjaer on a Denmark record of 132 national-team games. Kjaer, Denmark’s captain at Euro 2020, was an unused substitute against Slovenia and England as the defender returns to full fitness.

“I feel like I’ve congratulated Christian three of four times for the record. Again tomorrow, he’s setting a milestone. And not only in his career, but in Danish football. … He’s a great player in Danish football history. What can I say? Fantastic guy, fantastic player.” — Denmark midfielder Pierre-Emile Hojbjerg.

“I don’t like boring football. Really, I don’t like. I want to see my team attack, who create chances. I want to see Serbia with the full determination.” — Serbia coach Dragan Stojkovic.

“They have great physical strength in attack. We must minimize their opportunities to cross and get too many set pieces. It’s about being on the ball a lot so that we eliminate their greatest strengths.” — Denmark coach Kasper Hjulmand.

AP Euro 2024: https://apnews.com/hub/euro-2024

Serbia's Filip Kostic leaves the pitch after being substituted during a Group C match between Serbia and England at the Euro 2024 soccer tournament in Gelsenkirchen, Germany, Sunday, June 16, 2024. (AP Photo/Andreea Alexandru)

Serbia's Filip Kostic leaves the pitch after being substituted during a Group C match between Serbia and England at the Euro 2024 soccer tournament in Gelsenkirchen, Germany, Sunday, June 16, 2024. (AP Photo/Andreea Alexandru)

Serbia's head coach Dragan Stojkovic reacts after Slovenia scored a goal during a Group C match between Slovenia and Serbia at the Euro 2024 soccer tournament in Munich, Germany, Thursday, June 20, 2024. (AP Photo/Antonio Calanni)

Serbia's head coach Dragan Stojkovic reacts after Slovenia scored a goal during a Group C match between Slovenia and Serbia at the Euro 2024 soccer tournament in Munich, Germany, Thursday, June 20, 2024. (AP Photo/Antonio Calanni)

Serbia's Milos Veljkovic, right, celebrates with teammates his side first goal against Slovenia during a Group C match between Slovenia and Serbia at the Euro 2024 soccer tournament in Munich, Germany, Thursday, June 20, 2024. (AP Photo/Matthias Schrader)

Serbia's Milos Veljkovic, right, celebrates with teammates his side first goal against Slovenia during a Group C match between Slovenia and Serbia at the Euro 2024 soccer tournament in Munich, Germany, Thursday, June 20, 2024. (AP Photo/Matthias Schrader)

Serbia's Luka Jovic celebrates after scoring his side first goal during a Group C match between Slovenia and Serbia at the Euro 2024 soccer tournament in Munich, Germany, Thursday, June 20, 2024. (AP Photo/Matthias Schrader)

Serbia's Luka Jovic celebrates after scoring his side first goal during a Group C match between Slovenia and Serbia at the Euro 2024 soccer tournament in Munich, Germany, Thursday, June 20, 2024. (AP Photo/Matthias Schrader)

Serbia's head coach Dragan Stojkovic reacts after a missed chance to score a goal during a Group C match between Slovenia and Serbia at the Euro 2024 soccer tournament in Munich, Germany, Thursday, June 20, 2024. (AP Photo/Antonio Calanni)

Serbia's head coach Dragan Stojkovic reacts after a missed chance to score a goal during a Group C match between Slovenia and Serbia at the Euro 2024 soccer tournament in Munich, Germany, Thursday, June 20, 2024. (AP Photo/Antonio Calanni)

Denmark's head coach Kasper Hjulmand and players at the end of a Group C match between Denmark and England at the Euro 2024 soccer tournament in Frankfurt, Germany, Thursday, June 20, 2024. (AP Photo/Sergei Grits)

Denmark's head coach Kasper Hjulmand and players at the end of a Group C match between Denmark and England at the Euro 2024 soccer tournament in Frankfurt, Germany, Thursday, June 20, 2024. (AP Photo/Sergei Grits)

Denmark's head coach Kasper Hjulmand gestures after a Group C match between Denmark and England at the Euro 2024 soccer tournament in Frankfurt, Germany, Thursday, June 20, 2024. (AP Photo/Michael Probst)

Denmark's head coach Kasper Hjulmand gestures after a Group C match between Denmark and England at the Euro 2024 soccer tournament in Frankfurt, Germany, Thursday, June 20, 2024. (AP Photo/Michael Probst)

Serbia's players celebrate their sides first goal against Slovenia during a Group C match between Slovenia and Serbia at the Euro 2024 soccer tournament in Munich, Germany, Thursday, June 20, 2024. (AP Photo/Matthias Schrader)

Serbia's players celebrate their sides first goal against Slovenia during a Group C match between Slovenia and Serbia at the Euro 2024 soccer tournament in Munich, Germany, Thursday, June 20, 2024. (AP Photo/Matthias Schrader)

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