Providing a digital identity to create an online account or complete a transaction is becoming more commonplace globally. A digital identity is an electronic file containing a person’s identity information, often used to prove their identity online. Gartner has predicted that by 2024, “a true global, portable, decentralized identity standard will emerge in the market to address business, personal, social and societal, and identity-invisible use cases.”
It is with this backdrop that Jumio set out to uncover consumer preferences around the use of digital identity and the role of online identity verification across various platforms and services.
Conducted by a third-party research house, Opinium, the Digital Identity in 2022 Global Consumer Research exposes updated consumer views toward digital identity while uncovering thoughts on the role of digital identity across sectors.
Respondents consist of 8,000 consumers, equally represented in the UK, U.S., Singapore and Mexico. The in-depth research explored regional differences among consumers as well as their views on the use of digital identity in the health care, financial services, gaming, age-restricted sites, retail and sharing economy sectors.
The results of the research shed light on the impact of the increasing use of digital identity on consumer preferences and expectations. Our research found that over half (57%) of consumers across the globe now have to use their digital identity “constantly” or “often” to access their online accounts following the pandemic.
With this, a key finding of the research is that 80% of consumers prefer identity verification measures when choosing online brands. Therefore, verifying a digital identity may be just as important as verifying a driver’s license or other proof of identity document when it comes to ensuring online safety and security.
3 Key Findings Related to Digital Identity in 2022
Jumio’s Digital Identity in 2022 Global Consumer Research has much to offer for organizations that require identity verification for onboarding or authentication. Here are three findings we found relevant to just about any organization operating online:
- The use of digital identity is on the rise following the pandemic. 57% of respondents say they often have to verify their digital identity.
- Banks are ahead of the curve with robust identity verification. Gambling and social media sites are lagging behind. Consumers are increasingly confident that banks are actively implementing robust identity verification solutions. They don’t feel the same way about gambling and social media sites.
- Business use of digital identity verification addresses consumer concerns. There are clear opportunities for businesses to use and promote robust identity verification measures in order to respond to consumer concern.
These findings, along with supporting data, are summarized in the following infographic: