Skip to main content

Secure Digital Identity Services Gain New Momentum

The concept of a 'digital identity' is now established as a high priority, in an online world that's plagued with cybercriminals and others that profit from fraudulent activities. That said, digital identity is less about presenting a digital persona, and more about sharing verified identifiable data.

A digital version of ‘you’ does have a place in the commercial ecosystems being built today. With the versatility inherent in many modern digital identity systems, life events and portable identities take on new meaning. Besides, there's a significant market opportunity for telecom service providers.

According to the latest worldwide market study by Juniper Research, mobile network operator (MNO) revenue from digital identity will reach $8.1 billion in 2025 -- that's up from just $1.3 billion in 2020.

Secure Digital Identity Market Development

Juniper analysts found that, as the online identity space evolves, MNOs will play an increasingly important role in providing verification of digital identity and universal login based on subscriber identity.

This verification role is particularly important in emerging markets around the globe where traditional banking and financial services penetration is lower.

The study identified that these capabilities would form a critical part of emerging identity networks, with MNOs able to play the role of a guarantor of identity.

The research findings, and Juniper analyst assessment, recommend that technology vendors employ robust Know Your Customer (KYC) checks to ensure the security of online identities.


The new research also found that verification needs further adoption to secure digital identities. Therefore, Juniper recommends leveraging the large availability of smartphones featuring biometric capabilities -- projected at over 5.2 billion in 2025 -- to ensure a secure digital identity environment by authorizing identity use within digital onboarding.

It's assumed that this initial verification will be critical in making a secure online identity available in high-trust environments, such as financial services and banking.

"Bringing biometric verification within digital identity requires robust orchestration capabilities and extensive partnerships, meaning that digital identity vendors must focus on building out their ecosystems," said Nick Maynard, lead analyst at Juniper Research.

Moreover, Juniper uncovered that the rise of open application programming interfaces (APIs) are stimulating the digital identity market, by providing interconnected data and allowing access to different systems.

Outlook for Digital Identity Application Growth

As such, digital identity vendors have more data than ever, but this comes with the challenges of ensuring that all the data is orchestrated correctly and that the transaction is correctly authorized or declined.

The analyst recommends artificial intelligence (AI) as critical to this orchestration but highlighted explainability around decisions as essential for supporting greater digital identity use, particularly in highly regulated markets, such as financial services and banking.

I believe that restrictions introduced to contain the COVID-19 pandemic have created many challenges for enterprise IT teams, particularly in the area of cybersecurity. Organizations that have the majority of their employees working from home must reevaluate their remote network access policies. There is a reason why a 'zero-trust' policy is now pervasive -- digital identity matters.

Popular posts from this blog

Business Technology for The Anywhere Workspace

The COVID-19 global pandemic fueled the trend of pushing executives outside of their comfort zone, while government-mandated lockdowns required their knowledge worker employees to work from home. Companies that previously avoided 'Flexible Working' models were forced to embrace the pervasive trend in a matter of weeks, as new remote working policies became a CHRO standard practice. As we enter 2022, more employers will empower their key employees to work wherever they desire and engage with customers whenever and however they prefer. Moreover, the ongoing transformation to an 'Anywhere Workspace' will drive strategic IT spending and advance cloud-based SaaS adoption. Business Technology Market Development Global enterprise IT spending is projected to total $4.5 trillion in 2022, an increase of 5.5 percent over 2021, according to the latest worldwide market study by Gartner. "Enterprises will increasingly build new technologies and software, rather than buy and imp

Top 10 Predictions for The Worldwide CIO

Chief executives are eager to accelerate a digital business growth agenda. Focused on business model reinvention, the remediation of technical debt, sustainable IT infrastructure and more, International Data Corporation (IDC) unveiled their Worldwide CIO Agenda 2022 Predictions. The key IDC predictions will likely impact CIOs and IT professionals over the next one-to-five years. IDC analysts believe IT leaders have opportunities that will not present themselves again in their lifetimes. Chief Information Officer Agenda Predictions With forward-looking insights, IDC provides senior IT leaders and Line-of-Business (LoB) executives with actionable guidance for managing IT investment priorities and implementation strategies as they continue to navigate the winds of change. The top ten IDC predictions are: 1: Through 2026, 65 percent of CIOs will sustain a cycle of tech-based empowerment, agility, and resilience through collaborative governance, new service delivery models, and a business o

National 5G Wireless Network Global Competition

Nothing can stop the continued growth of global wireless communications. Despite a slight decline in the worldwide mobile subscriber base resulting from the COVID-19 pandemic, mobile network operators across different markets continue to expand fifth-generation (5G) infrastructure deployments. By the end of 2020, 264 million subscriptions were achieved. According to the worldwide market study by ABI Research, the 5G market will continue to accelerate and reach 2.6 billion subscriptions -- that's a significant contribution to mobile network operator revenue of $942 billion in 2026. 5G Wireless Network Market Development Driven by the investment of local network operators, China is a leader of the 5G market, holding more than two-thirds of worldwide 5G subscriptions at present. The United States is second in 5G adoption with more than 50 million subscribers, followed by the leading markets in Japan and South Korea. "Operators' effort to expand 5G networks, combined with qui