500 Mn Smartphone Users Will Use DIW By 2026
Due to challenges with the traditional IDV model, solutions based on portable digital identity (PDI) have emerged: Report
New Delhi: At least 500 million smartphone users globally will regularly make verifiable claims using a digital identity wallet (DIW) by 2026, a report said on Tuesday.
Identity verification establishes confidence in the identity of a person during a digital interaction when curated credentials do not exist, are not available or do not provide sufficient assurance.
However, due to challenges with the traditional IDV model, solutions based on portable digital identity (PDI) have emerged, according to a Gartner report. “The market is entering a transition period as PDI solutions are starting to mature, which in the next five years, will reduce the demand for standalone IDV,” said Akif Khan, VP Analyst at Gartner.
The current IDV model of a user being asked to do the ID-plus-selfie process repeatedly, is not ideal. Khan said that the processes in place today are focused and limited to core identity data (name, date of birth, address etc.).