The company, which adheres to the US NIST digital identity management strategy guidelines, offers biometric authentication through the use of mobile phones, facilitating secure and easy-to-use identity verification for governments, public and private entities.
The total turnover generated by the digital biometric identification industry is expected to generate more than $315 billion globally, with more than 5.6 trillion transactions by 2028 according to the study ‘Biometric Digital Identity Flagship Prism Report’, driven by the growing need to identify travellers at airports, hotels and resorts, which will account for one out of three transactions.
Identy.io is already working with some of the world's leading banks, telcos and border security agencies to develop and deploy security solutions based on biometric end-user identification, reducing the cost and time required for implementation.
Identy.io, the international leading company of biometric identification and digital credential management solutions, consolidates its presence in the North American market, reinforcing security in sectors of national importance such as border security or protection against bank fraud among others through its mobile biometric identification solutions. Thus, the company presents its new alternatives for touchless identification of the user by fingerprint, facial or palm recognition with liveness, or for the generation of digital ID containers that store dynamically encrypted biographic data, facial images and fingerprint templates. All of this is managed and processed from the user's smartphone, thus ensuring the security and efficiency of the entire process.
Identy.io's commitment to the North American market comes in a context in which the digital biometric identification industry will continue to experience exponential growth in the coming years, according to the study ‘Biometric Digital Identity Flagship Prism Report’ prepared by Acuity Market Intelligence. According to this study, a total of 5.6 trillion biometric transactions will occur by 2028, generating a value of more than $315 billion globally, thanks especially to the boost in the use of these solutions in the travel industry which will account for approximately one out of every three transactions. The US will also generate approximately 35% of the global market share.
Identy.io's biometric solutions facilitates, among other critical authentication transactions, to apply for visas in advance, even before the user starts their journey, which speeds up the work for border authorities, who can check the traveller's identity as they have carried out much of the process on their own mobile phone, reducing waiting times and the risk of admitting people with unwanted police records or false documentation into the country.
Unlike other biometric identification solutions, Identy.io's solutions process all biometric information on the device itself, thus enhancing the overall security by minimizing the possibility of any potential data leakage or loss, while also increasing the cost-effectiveness for governments or public or private entities, which do not require new investments in third-party infrastructure or cloud management. On the other hand, the end user protects its privacy as he/she maintains the control over what personal information is shared at any given time, thereby increasing his or her protection against unwanted uses and facilitating the practice of operations considered higher risk.
Identy's biometric identification solutions meet the NIST (National Institute of Standards and Technology) digital identity management strategic guidelines by supporting eKYC (Electronic Know Your Client) processes and AML (Anti-Money Laundering) frameworks, as well as complying with the ISO 30107-3 standard for liveness, ensuring the security and accuracy of its biometric suite of applications.
According to Jesús Aragón, CEO and founder of Identy.io, ‘we are aware of the demands of the North American market, which increasingly requires secure, usable and cost-effective biometric identification solutions, to authenticate travelers at airports, borders and hotels. For this reason, and from our experience as co-founders of the FIDO Alliance, we have developed a series of one-stop-shop solutions that meet the highest standards of security and efficiency that respond to the needs of public and private entities and governments, while being easy and secure to use for end-users.
Identy.io is already working with some of the world's leading banks and border security agencies to develop and deploy security solutions based on biometric end-user identification, reducing the cost and time required for implementation. According to Aragón, ‘we expect to maintain our double digit business growth in the US in the coming years, which demonstrates our absolute commitment to biometric security in the country’.
About Identy.io
Headquartered in the US with offices in Brazil, Mexico, Spain and India, Identy.io is the global reference in digital identity verification using touchless mobile biometrics. At Identy.io we believe in multi-factor authentication, while advocating the need to replace traditional methods of identity verification using passwords, tokens or OTPs (One Time Passwords), which do not guarantee the user's identity.
At Identy.io we work with institutions to secure identity in their business processes by using touchless biometrics from users' mobile devices. Our liveness authentication protection makes biometrics secure and deployable on a large scale. For more information, visit https://identy.io